Aluminum Extrusion Market (By Product: Shapes, Rods & Bars, Pipes & Tubes; By End Use Application: Automotive & Transportation, Building & Construction, Consumer Goods, Electrical & Energy, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 - 2032
The global aluminum extrusion market was estimated at USD 78 billion in 2022 and is expected to reach over USD 149.88 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 6.80% during the forecast period 2023 to 2032.
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The Asia Pacific aluminum extrusion market was valued at USD 54.60 billion in 2022 and is projected to be worth around USD 106.90 billion by 2032, growing at a CAGR of 7% between 2023 to 2033.
Asia Pacific dominated the aluminum extrusion market with a revenue share of more than 75% in 2022 and is expected to grow significantly over the forecast period owing to the rapid developmental activities performed in the developing countries such as India, China, Vietnam, Japan, and South Korea. China, in this region leads the market due to the extensive growth of the construction sector. Also, the objective of the Chinese government to invest heavily in transport and energy infrastructure is estimated to drive the market growth. For instance, On 16th April 2021, The Utkal-E coal block has been granted to National Aluminium Company Limited (NALCO) as a mining lease. This mining lease for the Utkal-E coal block spans 523.73 hectares in the villages of Nandichhod, Gopinathpur Jungle, KundajhariJungle, Kosala, and Korada in Angul District's ChendipadaTahasil. The Utkal-E coal block has an initial capacity of 2 million tonnes per year and a total mineable resource of 70 million tonnes.
North America is also estimated to grow significantly during the forecast period owing to the surge in industrial operations and the Government initiatives regarding economic developments. For example, Canada announced a new infrastructure plan worth CAD 7.5 billion (USD 5.8 billion) in October 2020 to support a variety of renewable energy initiatives and create jobs in the country. All these factors are anticipated to fuel the growth of the Aluminum Extrusion Market.
Aluminum extrusion market expansion is expected to be fueled by a spike in demand for lightweight and robust extruded products in a variety of industries. Aluminum's small weight and excellent strength-to-weight ratio make it ideal for usage in large structures and buildings to provide greater strength while reducing weight. Aluminum has a high tensile strength and stiffness, making it extremely resistant to deformation. Extruded aluminum's strong corrosion resistance and ease of maintenance are two more aspects that are predicted to propel the market forward.
The rise in demand for flexible design is expected to provide profitable prospects for aluminum makers. Furthermore, aluminum extrusion is utilized to produce a wide range of extruded goods in a variety of forms and sizes using the same equipment, which helps the aluminum extrusion market growth.
The huge growth of construction sector across the world is a major factor that boosts the market growth. Moreover, the demand for automobiles has increased across the globe and this factor is anticipated to drive the market growth.
Aluminum extrudes are cost-effective, lightweight, corrosion-resistant, low-maintenance, and have paramagnetic properties; as a result of these properties, aluminum is widely used in the aerospace and defense industry, and the aerospace and defense industry's rapid growth will contribute positively to the growth of the market.
Report Highlights | Details |
Market Size in 2023 | USD 82.91 Billion |
Market Size by 2032 | USD 149.88 Billion |
Growth Rate from 2023 to 2032 | CAGR of 6.80% |
Largest Market | Asia Pacific |
Fastest Growing Market | North America |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Segments Covered | Product, Application, Region |
Companies Mentioned | The major market player includes Hindalco Industries Limited, Aluminium Products Company (ALUPCO), Arconic Corporation, Bahrain Aluminium Extrusion Co. (BALEXCO), China Zhongwang, Constellium N. V., and Gulf Extrusion Co. LLC. |
Based on the Product, the aluminum extrusion market is divided Shapes, Rods & Bars and Pipes & Tubes. The Shapes Product segment expected to hit largest market share of over 80.5% in 2022 and will retain its dominance during the forecast period. Because of aluminum's great malleability, it is simple to construct forms using the extrusion technique. Aluminum billets are heated and driven through steel dies using a ram or hydraulic press with high pressure. After this procedure, aluminum shapes in the shape of dies are created.
Chassis, panels, transmission housings, roof rails, and engine blocks for trucks, vehicles, boats, and trains are all made from such shapes in the automotive and transportation industry. Furthermore, the demand for structural components in cars is increasing in order to make them lighter; for example, the Ford F-150 is made of aluminum materials, with the body panels and extruded shapes accounting for the majority of the body weight.
Rod and bar product segment is also estimated to grow remarkably during the forecast period owing to their extensive use in construction activities, especially in the forming of scaffolding systems. Rods and bars are formed using the extrusion process, which involves heating aluminum billets and passing them through a series of rolls, after which they are coiled and dragged into rods, bars, and tubes using thinning dies. The materials formed using the extrusion process possess the beneficial features such high stability, light weight, and flexibility. All these factors are expected to foster the market growth.
Based on the application, the building & construction segment accounted revenue share of 60.4% in 2022 owing to rise in use of extruded products in construction activities, greatly influenced by the investment in the housing sector. China, leads the market in the construction sector and invests heavily in the infrastructure development and this will accelerate the market growth.
The extensive use of aluminum extrusions in diverse applications such as anti-intrusion beams, cross rails, engine mounts, fuel distribution pipes, radiator beams, longitudinal beams, underbody space frame rockers, seat tracks, roof rails, and tailgate frames is expected to drive significant growth in the automotive & transportation sector over the forecast period.
The Consumer goods segment accounted for contributing the lowest market share among other applications owing to availability of less aluminum applications in consumer goods segment compared to other sub-segments. Although, the rise in production of consumer goods such as furniture, sporting & athletic goods, toys, refrigerators & freezers, and other major appliances are expected to boost the growth of the Aluminum Extrusion Market.
In the consumer goods business, extruded items including as sheets, bespoke forms, and bars are widely employed. Extruded shapes that have been customized have a wide range of applications in audio and video systems, computers, and other appliances. These attributes are expected to drive the growth of the market.
Key Companies Profiled
The global Aluminum Extrusion Market is characterized by the presence of various small and big players. The major market player includes Hindalco Industries Limited, Aluminium Products Company (ALUPCO), Arconic Corporation, Bahrain Aluminium Extrusion Co. (BALEXCO), China Zhongwang, Constellium N. V., and Gulf Extrusion Co. LLC. As the market is competitive in nature, the players are indulged in rapid adoption of advanced technologies to improve the aluminum extrusion propertiesand in raising their competitive share by means of strategic initiatives like mergers, new product and acquisitions.
Segments Covered in the Report
By Product
By Application
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Aluminum Extrusion Market
5.1. COVID-19 Landscape: Aluminum Extrusion Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Aluminum Extrusion Market, By Product
8.1. Aluminum Extrusion Market, by Product Type, 2023-2032
8.1.1. Shapes
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Rods & Bars
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Pipes & Tubes
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Aluminum Extrusion Market, By Application
9.1. Aluminum Extrusion Market, by Application, 2023-2032
9.1.1. Automotive & Transportation
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Building & Construction
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Consumer Goods
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Electrical & Energy
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Aluminum Extrusion Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.3.2. Market Revenue and Forecast, by Application (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Application (2020-2032)
Chapter 11. Company Profiles
11.1. Hindalco Industries Limited
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Aluminium Products Company (ALUPCO)
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Arconic Corporation
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Bahrain Aluminium Extrusion Co. (BALEXCO)
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. China Zhongwang
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Constellium N. V.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Gulf Extrusion Co. LLC.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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