Aluminum Extrusion Market
Aluminum Extrusion Market Study by Shapes, Rods & Bars, and Pipes & Tubes for Building & Construction, Consumer Goods, Automotive & Transportation, and Electrical & Energy from 2024 to 2034
Analysis of Aluminum Extrusion Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Aluminum Extrusion Market Outlook (2024 to 2034)
Expanding at a CAGR of 7%, the global aluminum extrusion market size is projected to increase from its estimated size of US$ 101.1 million in 2024 to US$ 198.9 million by the end of 2034.
Rising demand for lightweight and robust extruded products in several industries is contributing to market expansion. Aluminum extruded goods are in increased demand due to their superior strength-to-weight ratio. This makes them perfect for large projects and buildings that require extra strength while being lightweight.
Along with aluminum's lightweight structure, corrosion resistance stands as the second most crucial quality of extruded aluminum items. With its exceptional corrosion resistance, aluminum extruded goods can withstand any weather condition and location, serving as a significant driver for extruded aluminum products.
- In 2021, Hindalco Industries Ltd. acquired Hydro's aluminum extrusions division in India. This acquisition aligns with Hindalco’s strategic focus on expanding its presence in the high-value segment of the market.
Aluminum, being a lightweight metal, weighs roughly one-third as much as copper or steel. Due to its high strength-to-weight ratio, aluminum extrusions serve as excellent construction materials. When properly alloyed or treated, aluminum can be up to 45 times stronger than some steel grades, with an ultimate tensile strength exceeding 85,000 psi.
Report Attributes | Details |
---|---|
Aluminum Extrusion Market (2024E) | US$ 101.1 Million |
Projected Market Value (2034F) | US$ 198.9 Million |
Global Market Growth Rate (2024 to 2034) | 7% CAGR |
China Market Value (2034F) | US$ 28 Million |
Canada Market Growth Rate (2024 to 2034) | 7.8% CAGR |
North America Market Share (2024E) | 16.8% |
East Asia Market Value (2034F) | US$ 48.9 Million |
Key Companies Profiled |
|
Don't Need a Global Report?
save 40%! on Country & Region specific reports
Which Key Factors are Contributing Aluminum Extrusion Market Growth Worldwide?
“Growing Need to Develop Lightweight Parts in Aerospace Sector”
High corrosion resistance and durability of aluminum make it an ideal material for a wide range of applications. The growth of the construction industry heavily relies on aluminum extrusions for diverse uses. Aluminum's exceptional properties, including low weight and excellent corrosion resistance, make it a favorable choice for various construction applications.
Automotive and transportation industries play a pivotal role in market expansion, with a rise in aluminum utilization in both traditional internal combustion vehicles and electric vehicles (EVs). Auto manufacturers are facing challenges related to meeting regulatory guidelines regarding the environmental impact of their vehicles. The increase in aluminum usage in vehicles is poised to enhance vehicle efficiency and deliver performance benefits. This is one of the key aluminum extrusion market trends that manufacturers are capitalizing on.
There is a rising demand for extruded products, driven by their rising adoption in producing lightweight parts across industries such as aerospace, automotive, and construction. The cost-effectiveness and lightweight nature of extrusion products are boosting their demand in various industrial applications, particularly in the automotive and aerospace & defense sectors.
What are the Challenges Restricting Expansion of Aluminum Extrusion Market Size?
“High Upfront Expenditure Associated with Establishment of Manufacturing Facilities”
High capital costs related to establishing manufacturing facilities pose significant market restraints. The substantial upfront investment needed for constructing the necessary infrastructure and machinery for the extrusion press presents a challenge for new market entrants. In addition, the growth of the market is hindered by low production efficiency, which can result in heightened operational costs, thereby impacting manufacturers' overall profitability.
Economic fluctuations can lead to reduced demand for extruded products, especially in sectors like aerospace, automotive, and construction. Negative sentiments surrounding new construction projects can lead to a decline in the volume of aluminum extrusion. Complying with environmental regulations, safety standards, and trade policies may increase operational costs and pose logistical challenges for manufacturers, particularly those operating in multiple regions with varying regulatory frameworks.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Country Wise Insights
Fact.MR, a market research and competitive intelligence provider, through its newly published analysis, asserts that North America is projected to hold 17.5% share of the global market by 2034. Market players have broadened their presence to various regions, including Southeast Asia, Central and South America, and Australia. This growth enables industry participants to cater to the increasing worldwide demand more effectively. It also allows them to diversify their supply sources and minimize reliance on a single provider.
What’s Driving Demand for Aluminum Extruded Products in the United States?
“Recovery of Construction Sector Post COVID-19 Pandemic”
Attribute | United States |
---|---|
Market Value (2024E) | US$ 12.2 Million |
Growth Rate (2024 to 2034) | 7.7% CAGR |
Projected Value (2034F) | US$ 25.6 Million |
Demand for aluminum extruded products is rising in sectors such as aerospace & defense, automotive, and construction. These sectors have faced significant repercussions from economic fluctuations, leading to a decreased demand for extruded products. Despite these challenges, demand for construction activities has recovered. This recovery is due to the announcements of mega projects such as the Gordie Howe International Bridge, Hudson Tunnel Project, and JFK Airport Expansion, among others. These projects have led to the opening of material inflow for construction purposes.
Low cost and the lightweight nature of extrusion products are contributing to their rising demand in various industrial applications. The market is driven by rising demand for extruded products and their growing adoption in producing lightweight parts in industries such as aerospace, automotive, and construction.
Why are Market Players Interested in China?
“Well-Developed Infrastructure and Robust Production Capabilities”
Attribute | China |
---|---|
Market Value (2024E) | US$ 14.7 Million |
Growth Rate (2024 to 2034) | 6.6% CAGR |
Projected Value (2034F) | US$ 28 Million |
China is estimated to account for 56.9% of the aluminum extrusion market share in East Asia in 2024. The market is driven by its well-developed infrastructure and robust production capabilities. Additionally, the availability of a large pool of skilled labor, fostered through a strong emphasis on technical education and vocational training, further strengthens the market, particularly in the building and construction sector, which is experiencing heightened demand due to population migration from rural to urban areas. Government initiatives aimed at infrastructure advancement also contribute to driving market growth.
The market in China is characterized by the presence of key players who employ various strategies such as launching new products and obtaining approvals, engaging in mergers and acquisitions, and forming partnerships and collaborations, among others, to thrive in a competitive environment. These factors collectively empower aluminum extrusion manufacturers in China to achieve increasing profits.
Category-wise Insights
Aluminum extrusion application segments are buildings & construction, consumer goods, automotive & transportation, and electrical & energy. Out of these, the automotive & transportation segment occupies a leading market share of 24.5% in 2024.
What are the Primary Benefits of Using Aluminum Extrusions for Shaping Purposes?
“Malleability of Aluminum Facilitating Creation of Complex Shapes”
Attribute | Shapes |
---|---|
Segment Value (2024E) | US$ 40 Million |
Growth Rate (2024 to 2034) | 7.1% CAGR |
Projected Value (2034F) | US$ 79.8 Million |
Malleability of aluminum facilitates the production of various complex shapes through the extrusion process. Aluminum billets are heated and then subjected to high pressure from a ram or hydraulic press against steel dies. Following this process, aluminum shapes are formed, taking on the contours of the dies.
In the automotive and transportation sector, aluminum extrusions find applications in chassis, roof rails, panels, transmission housings, and engine blocks for various vehicles such as trucks, cars, boats, and railways. With the growing demand for structural components aimed at reducing vehicle weight, there is an increasing preference for aluminum extrusions in vehicle manufacturing. As a result, by the end of 2034, shapes produced by aluminum extrusion are projected to hold a market share of 40.1%.
Why are Aluminum Extrusions Extensively Used in Construction?
“Superior Corrosion Resistance of Aluminum Extrusions”
Attribute | Building & Construction |
---|---|
Segment Value (2024E) | US$ 23.1 Million |
Growth Rate (2024 to 2034) | 7% CAGR |
Projected Value (2034F) | US$ 45.4 Million |
Usage of extruded products in construction activities has been greatly influenced by investment in the housing sector. This use is driven by their lightweight nature, corrosion resistance, and durability against environmental elements. In terms of nominal value, China has the largest construction sector in the world. The nation's focus on new housing development is projected to fuel the growth of the aluminum extrusion market during the forecasted period. The building & construction sector is forecasted to account for 25.8% market share by 2034.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
Key players in the aluminum extrusion market are Kaiser Aluminum, QALEX, Alupco, Hindalco Industries Ltd., Novelis, Norsk Hydro ASA, Constellium N.V., and Arconic Corp. Manufacturers in the aluminum extrusion industry are developing strategies to provide superior and cost-efficient solutions. They are achieving this by forming alliances with other renowned manufacturers globally.
- In 2021, Hindalco Industries Ltd. acquired Hydro’s aluminum extrusion business in India. Through this acquisition, the company is focusing on expanding its presence in the market.
- In 2022, Novelis launched a net zero lab by collaborating with HES-SO Valais-Wallis to develop carbon-neutral solutions for aluminum manufacturing. Through this, the company aims to invest in research into decarbonization to become carbon neutral by 2050.
Key Segments of Aluminum Extrusion Market Research
-
By Product :
- Shapes
- Rods & Bars
- Pipes & Tubes
-
By Application :
- Building & Construction
- Consumer Goods
- Automotive & Transportation
- Electrical & Energy
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
How big is the aluminum extrusion market size in 2024?
The global aluminum extrusion market size is valued at US$ 101.1 million in 2024.
What are the projections for the global market for the decade?
The market has been calculated to expand at 7% CAGR and reach US$ 198.9 million by 2034.
What is the projected CAGR for the North American market?
The market in North America is projected to expand at 7.4% CAGR through 2034.
What is the forecasted market share of North America by 2034?
North America is forecasted to account for 17.5% market share by 2034.
How is the East Asia market performing?
The market in East Asia is estimated to increase at 6.5% CAGR by 2034.
What is the market growth rate in South Korea?
The market in South Korea is projected to expand at 8.3% CAGR through 2034.