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Global Aluminum Extrusion Market to Witness Steady Growth During 2020-2025, Spurred by Increasing Need for Eco-Friendly Construction Materials

According to the latest report by IMARC Group, titled “Aluminum Extrusion Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global aluminum extrusion market size reached 20.3 Million Tons in 2019. Aluminum extrusion refers to the process of transforming aluminum alloys into a specific shape with the help of a cross-sectional die. The extruded alloy is exceptionally light in weight and has a smooth surface finish that can be further buffed, polished, painted or powder-coated for diverse applications. The alloys are highly malleable in nature with high ductility and good electrical and thermal conductivity. Since extruded aluminum is very stable and durable in nature, it can be recycled numerous times without losing its integrity. Owing to the several benefits offered by the alloys, they form an essential component across the electrical, automotive, transportation, consumer durables and construction industries.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Aluminum Extrusion Market Trends:

The global market is primarily driven by increasing green construction across the globe. There has been an increase in the utilization of eco-friendly and energy-efficient construction materials with improved structural strength and low maintenance requirements, which is boosting the sales of extruded aluminum. These aluminum alloys meet the green building standards of numerous countries, and the Leadership in Energy and Environmental Design (LEED), which has led to their widespread utilization for the construction of doors, windows and panels across various ongoing projects. The market is further driven by the rising demand for extruded aluminum from the automotive industry. Manufacturers are utilizing the metal for designing key automobile components to reduce the overall weight, which, in helps improve fuel efficiency and reduce greenhouse gas emissions. This is further supported by the numerous initiatives undertaken by various governments to promote the use of eco-friendly vehicles. However, the overall demand for extruded aluminum has experienced a significant downfall due to the sudden outbreak of the novel coronavirus disease (COVID-19) across the globe. The deaccelerating growth of the construction industry is also expected to negatively impact the market growth. On account of the aforementioned factors, the market is expected to witness steady growth during 2020-2025.

Market Summary:

  • Based on the product type, the market has been categorized into mill finished, anodized and powder coated. At present, mill finished represents the leading segment.
  • On the basis of the alloy type, the market has been divided into 1000, 2000, 3000, 5000, 6000 and 7000 series aluminum alloys. Among these, the 6000 series alloy exhibits a clear dominance in the market.
  • Based on the end user, the market has been segmented into building and construction, transportation, machinery and equipment, consumer durables, electrical and others. The building and construction segment currently accounts for the majority of the total market share.
  • On the geographical front, Asia Pacific holds the leading position in the market. Other major regions include Europe, North America, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been studied in the report with the detailed profiles of the key players operating in the market.

 

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