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Aluminum-Extruded Products Market Research Report 2019 published By Market Research Future, provides information on Global Aluminum-Extruded Products Industry Size, Share, Trends, Growth and Opportunity Assessment with Regional Analysis and Segmentation By Product Type (Mill-Finished, Anodized, and Powder-Coated), Alloy Type (6000 Series Aluminum Alloys, 7000 Series Aluminum Alloys), End-Use (Construction, Automotive), and Region — Global Forecast till 2025Overview
The global aluminum extruded products market is projected to register a healthy CAGR of 6.5% to reach USD 68.5 billion by 2025.
Aluminum extrusion is a technique to transform aluminum alloy into extruded products with a definitive cross-sectional profile. The malleability of aluminum alloys helps in machining and casting them into extruded products of complex shapes. After the extrusion process, various options are available to adjust the texture, color, and brightness of the aluminum products. Custom aluminum extruded products have longer shelf life than other materials, such as steel and plastic, owing to its high strength, lightweight, and corrosion resistant property.
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The surging demand for aluminum extruded products in the construction industry in the emerging countries of Asia-Pacific is expected to boost the global market growth during the forecast period. Factors such as rapidly growing construction and transportation industries, growing investments for infrastructural development, and increasing disposable income are also likely to favor the global market growth in the coming years. There is a rise in consumption of aluminum extruded products in the construction of bridge railings and coverings, road signs and light poles, and pedestrian bridges, among others due to its ease of fabrication, low maintenance cost, and lightweight.
Key Players
The prominent players in the global aluminum extruded products market are-
• Hydro Extruded Solutions (Norway)
• China Zhongwang Holdings Limited (China)
• Arconic (US)
• Hindalco Industries Limited (India)
• Constellium (The Netherlands)
• Century Extrusions Limited (India)
• QALEX (Qatar)
• Bonnell Aluminium (US)
• Gulf Extrusions Co. LLC (UAE)
• TALCO (India)
• others
Market Dynamics
The rising demand for aluminum extruded products in the automotive industry is likely to boost the global market during the forecast period. Advanced systems in automobiles such as sensors and batteries have increased the overall weight of the vehicles. Environmental issues such as global warming due to increasing CO2 emissions and depletion of fossil fuel oil are the major concerns. Stringent automotive fuel efficiency and emission standards have favored the consumption of the product in automobiles due to its lightweight, high strength, and cost-effectiveness.
The growing popularity of aluminum extruded products in electric vehicles (EVs) is likely to create immense growth opportunities for global market players. The growing environmental concerns have resulted in the adoption of electric vehicles, is expected to favor the global market growth. Developments such as Fuel Cell Electric Vehicles (FCEVs), Hybrid Electric Vehicles (HEVs), and Battery Electric Vehicles (BEVs), are likely to boost the demand for the product in the production of lightweight battery enclosures. The leading EV manufacturers such as Tesla, BMW, and Nissan are increasing using aluminum-based battery enclosures.
Segmentation
Based on product type, the mill-finished segment held the largest market share of 40% in 2017 and is estimated to register the highest CAGR of 5.5% during the review period. This is largely attributed to the high strength and cost-effectiveness of the mill-finished product. It finds widespread applications in the automotive and construction industries. In addition, they exhibit excellent performance in high and low temperatures, and humidity.
On the basis of alloy type, the 6000 series aluminum alloys segment dominated the global market with a market share of 42% in 2017 and was valued at USD 17,010 million. This is attributed to its high strength, versatility, and superior corrosion resistance. Some of the common alloys used are 6026, 6061, 6063, and 6082.
By end-use, the construction segment accounted for the largest market share of 44% in 2017 and is estimated to exhibit a significant CAGR of 6.63% in the following years. This is attributed to the structural integrity and soundproof properties, and low cost of the product. Aluminum extruded products are widely used in new construction projects, airports, and residential and commercial buildings.
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Regional Analysis
The Asia-Pacific market dominated the global market with the largest share of 63% in 2017 and is estimated to register the highestCAGR of 7% by the end of 2025. This is attributed to the growth of the automotive and building and construction industries in China, India, and Indonesia. The growing investments in the developing countries in South-East Asia such as Indonesia, Myanmar, and Thailand for infrastructural development is further expected to fuel the regional market growth.
The European market accounted for the second-largest market share of 15% in 2017 and is likely to exhibit a notable CAGR of 5.5% during the assessment period owing to the stringent regulations pertaining to the emission of greenhouse gases. Furthermore, the rising demand for the product in the structural components and battery casings in electric vehicles is expected to fuel the regional market growth.
Some of the key strategies followed by the players operating in the global aluminum extruded products market are expansion, acquisitions, and investments.
In September 2018, Hydro Extruded Solutions expanded its manufacturing capacity by building a 96,000-square-foot facility adjacent to its existing plant in Cressona, US. This facility has started the production of precision parts for lightweight vehicles and other applications in the automotive industry.
In September 2018, Hindalco invested USD 559.3 million to set up India’s largest aluminum extrusion and recycling plant in Gujarat. Of which, USD 326.23 million was used for the extrusion plant with a capacity of 137,000 tons per annum. This investment will help to serve the rising demand for the product in architectural, electrical, and consumer durables industries.
In September 2017, China Zhongwang acquired 99.72% stake of Aluminiumwerk Unna AG (Alunna), a German company specializing in high-end aluminum extrusion products. This development will help the company to expand its operational capabilities in seamless tube extrusion.
Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
2.5 Key Takeaways
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
5 Market Dynamics
5.1 Introduction
5.2 Drivers
5.2.1 High Demand for Aluminum Extruded Products in the Construction Industry in Asia-pacific
5.2.2 Increasing Demand for Aluminum Extruded Products in the Automotive Industry
5.2.3 Drivers Impact Analysis
5.3 Restraints
5.3.1 Environmental and Health Hazards Associated With Bauxite Mining
5.3.2 Restraints Impact Analysis 36
5.4 Opportunities
5.4.1 Growing Popularity of Aluminum Extruded Products in the Electric Vehicles
5.5 Challenges
5.5.1 Defects During the Production of Extruded Products Impact the Overall Operational Cost
Continued.......
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Release ID: 515120
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