Expanding at a CAGR of 4.4%, the global aluminum extrusions market is projected to increase from a valuation of US$ 121.1 Bn in 2022 to US$ 163.3 Bn by 2029.
Over 2022-2029, the global aluminum extrusions market revenue is anticipated to grow at a CAGR of 4.4%, according to the report of Future Market Insights (FMI). Curtain walls and door & window profiles will remain the highest selling product category, whereas building & construction industry is likely to remain top consumer industry in aluminum extrusions market.
The performance of the aluminum extrusions market in a region is observed to be closely associated with the GDP per capita of the geography. The increasing economy of a country leads to the development of a nation, urbanization, and results into the rise in demand for infrastructure along with demand for vehicles. As building & construction and automotive industries are two of the prominent end-user industries for aluminum extrusions, the GDP of a geography has a strong impact on the aluminum extrusions market.
Although considerably high consumption of aluminum extrusions prevails in the automotive industry, specifically within developed regional markets, it will be more prominent in the building and construction industry, according to FMI’s analysis.
China’s Primacy in Aluminum Extrusions Market to Persist through the Next Decade
China, the leading market for aluminum extrusions, registers over 60% of the total market value share. Furthermore, China accounts for more than a quarter of the world’s manufacturing output and the manufacturing sector in the country is rising at a significant pace.
China currently accounts for nearly 30% of the global motor vehicle production in 2021. The automotive industry that has been a prominent end-use vertical of aluminum extrusions will continue to thrive at a high pace – propelling demand for aluminum extrusions further, in coming years.
Despite the huge production capacity of aluminum extrusions installed in the country, China is the largest importer in the world to suffice its ever-increasing domestic demand. Strong manufacturing capabilities of China and the further increasing GDP of the country have propelled the aluminum extrusions market within the country in recent past.
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Key Segments of Aluminum Extrusions Industry Survey
Aluminum Extrusions Market by Product:
- Automotive Chassis
- Profile for Poles
- Profile for Bridges
- Profile for Rail Tracks
- Door & Window Profiles
- Curtain Walls
- Profile for Heat Exchangers
- Machinery Components
Aluminum Extrusions Market by End User:
- Building & Construction
- Railways & Seaways
Excellent Growth Outlook Foreseen for APEC, Europe & North America
Asia Pacific (excluding China) is also anticipated to create a significant incremental revenue opportunity in the aluminum extrusions market through the next decade, on the backdrop of the rapidly expanding manufacturing industry, particularly in India and ASEAN countries.
Japan is estimated to account for around 1/3rd of APEC’s market value share estimated for 2022. However, Japan will witness sluggish growth due to the stagnant economy of the country. India, one of the prominent producers of motor vehicles globally, will register significantly increasing demand for aluminum extrusions. However, the country’s motor vehicle production will be around five times less than that in Europe or the Americas.
Europe, led by Germany, is anticipated to witness excellent growth in the aluminum extrusions market size, by around 26% over the next 10 years. While Germany will account for more than a quarter of the Europe’s total consumption of aluminum extrusions forecast for 2019, Poland will reportedly mark the highest growth rate. The report has attributed Poland’s market growth to the spectacular growth of the country’s manufacturing industry.
Key Companies: Global Aluminum Extrusions Market
Key manufacturers operating in the global aluminum extrusions market include Hindalco Industries, Jindal Aluminium Limited, China Zhongwang Holdings Limited, Constellium N.V., Hydro Extrusions, Arconic Inc., Gulf Extrusions Co. (LLC), TALCO Aluminum Company, Zahit Aluminum, Bahrain Aluminium Extrusion Co. (Balexco), Qatar Aluminium Extrusion Company, Bonnell Aluminum, SKM Co., Ltd., Keymark Corporation, Kaiser Aluminum Corp., Norinco International Cooperation Ltd., Hulamin Ltd., Sankyo Material Company, Hammerer Aluminium Industries GmbH, and WISPECO Aluminium.
In this report, Future Market Insights has presented the strategies of the key players tracked by an analysis of the current developments related to the aluminum extrusions product segments by these manufacturers. To provide a comparative analysis of the profiled manufacturers of the aluminum extrusions products, a competitive landscape is provided in the report.