The global aluminum extrusion market size was valued at USD 87.84 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030. The automotive & transportation sector is witnessing an increase in aluminum content in internal combustion as well as Electrical Vehicles (EVs), which is likely to boost the market growth over the forecast period. Automobile manufacturers are under increasing pressure to meet the regulatory requirements pertaining to the environmental impact of vehicles. Agencies, such as the U.S. Environmental Protection Agency (EPA), California Air Resource Board (CARB), and National Highway Traffic Safety Administration (NHTSA), have enacted rules and regulations regarding Greenhouse Gas (GHG) emissions.
For instance, emission regulations issued by the NHTSA. As per these regulations, stringency for carbon dioxide standards and fuel economy increased by 1.5% from model years 2021 to 2026. This is projected to boost the demand for various aluminum components in automobiles over the coming years. The U.S. is a prominent producer and consumer of aluminum extrusion. The country is one of the severely hit countries due to the COVID-19 pandemic, which has resulted in major consequences in the manufacturing activities, thereby, negatively affecting the product demand. In the first half of 2020, various non-essential businesses were compelled to operate at lower capacity, thereby affecting the demand for raw materials and creating disruptions in the supply chain.
The aerospace & defense, automotive, and construction industries have been majorly impacted due to the pandemic in the U.S., observing a decline in demand for extruded products. However, construction activities were provided some relaxation post the first quarter of 2020. The construction activities were acknowledged under essential businesses, which led to the opening of material inflow for construction purposes. Depressing sentiments in new construction activities directly reduced the volume flow of aluminum extrusion in the U.S. during FY 2020. Low costs and weight of extrusion products contribute to their rising demand in various industrial applications, mainly in the automotive and aerospace & defense sectors.
The shapes product segment accounted for the maximum revenue share of more than 79.5% in 2021. Aluminum has excellent malleability, which makes it easy to produce shapes using the extrusion process. Under this process, aluminum billets are heated and forced with ram or hydraulic press with high pressure on steel dies. Aluminum shapes are formed after this process, which contains the shape of dies. In the automotive & transportation sector, aluminum shapes are used in chassis, roof rails, panels, transmission housings, and engine blocks for trucks, cars, boats, and railways. Demand for structural components is increasing in vehicles to make them lighter.
For instance, the F-150 of Ford is constructed using large aluminum materials, wherein aluminum body panels and extruded shapes consist of a major portion of the body weight. Rods are circular while bars have any number of flat sides. In the extrusion process, aluminum billets are heated and passed through a series of rolls and then coiled and are drawn into rods, bars, and tubes through thinned dies. Rods & bars are widely used in construction activities, especially in the forming of scaffolding systems. These lightweight scaffolding systems offer numerous advantages over traditional systems, in terms of stability, weight, and flexibility.
The building & construction sector accounted for the largest revenue share of over 60% in 2021. The use of extruded products in construction activities has been greatly influenced by investment in the housing sector. The largest construction sector, in terms of nominal value, is dominated by China. The country’s drive to invest in new housing development is likely to aid the segment growth over the forecast period. The automotive & transportation sector accounted for the second-largest volume share in 2021 and is expected to grow at a lucrative CAGR during the forecast period. In vehicles, aluminum extrusions have wide applications in cross rails, anti-intrusion beams, fuel distribution pipes, radiator beams, engine mounts, longitudinal beams, seat tracks, underbody space frame rockers, roof rails, and tailgate frames, among others.
Consumer goods accounted for the lowest market share in 2021 as the aluminum applications in consumer goods are lesser compared to other sub-segments. However, increasing production of consumer goods is expected to boost the demand for aluminum extrusions for use in furniture, sporting & athletic goods, toys, refrigerators & freezers, and other major appliances during the forecast period. Extruded sections, such as sheets, customized shapes, and bars, are widely used in the consumer goods industry. Customized extruded shapes have wide application scope in computer devices, audio & video systems, and other appliances. Increasing production of the aforementioned devices and appliances is likely to fuel the product demand in the coming years.
Asia Pacific dominated the global market in 2021 and accounted for the largest revenue share of more than 69%. The region will retain its dominant position throughout the forecast years due to the presence of major manufacturing sectors in countries, such as China, India, Vietnam, Japan, and South Korea. Among these countries, China is projected to play a key role in promoting industry growth through its extensive construction sector. The plan of the Chinese government to invest in transport and energy infrastructure is likely to positively influence the market growth over the forecast period. North America is projected to grow at a significant growth rate from 2022 to 2030 in terms of revenue. The resumption of industrial operations post-pandemic is projected to provide a push to the market growth.
Government initiatives regarding economic development are also expected to help recover the regional market. For example, in October 2020, Canada unveiled a new infrastructural plan worth CAD 7.5 billion (~USD 5.8 billion) for pushing an array of renewable energy initiatives and creating jobs in the country, which were impacted by the pandemic. The declining growth and production of the Europe automotive industry, owing to the pandemic, is affecting the demand for aluminum and its products. With an aim to recover from the loss, producers in the region have come together for the development of the automotive industry by supporting certain schemes, such as the vehicle-renewal scheme that focuses on sales of eco-friendly vehicles, such as clean ICEs and EVs.
Most of the market players are focused on the development of lightweight materials for downstream sectors. The players are focused on capturing new contracts from various end-use industries. For instance, recently, China Zhongwang Holdings Ltd. supplied aluminum body parts to urban rail projects in Shanghai, Guangzhou, Xiamen, Hangzhou, Hefei, and Jinhua and Beijing-Zhangjiakou Smart High-speed Rail. The company also grabbed contracts through cooperation with CRRC to supply aluminum extruded train body parts to projects in Thailand and Nigeria. Some of the prominent players in the global aluminum extrusion market include:
Hindalco Industries Ltd.
Arconic Corp.
Norsk Hydro ASA
Constellium N.V.
Kaiser Aluminum
QALEX
Report Attribute |
Details |
Market size value in 2022 |
USD 91.86 billion |
Revenue forecast in 2030 |
USD 168.88 billion |
Growth rate |
CAGR of 7.5% from 2022 to 2030 |
Base year for estimation |
2021 |
Historical data |
2017 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Revenue in USD million/billion, volume in kilotons, and CAGR from 2022 to 2030 |
Report coverage |
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, application, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; Canada; Mexico; Germany; France; U.K. China; India; Japan; Brazil; Saudi Arabia |
Key companies profiled |
Hindalco Industries Ltd.; Arconic Corp.; Norsk Hydro ASA; Constellium N.V.; Kaiser Aluminum; Alupco; Gulf Extrusions Co. LLC; Balexo Bahrain Aluminium Extrusion Company; QALEX |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global aluminum extrusion market report on the basis of product, application, and region:
Shapes
Rods & Bars
Pipes & Tubes
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
Building & Construction
Automotive & Transportation
Consumer Goods
Electrical & Energy
Others
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Asia Pacific
China
India
Japan
Central & South America
Brazil
Middle East & Africa (MEA)
Saudi Arabia
b. The global aluminum extrusion market size was estimated at USD 87.84 Billion in 2021 and is expected to reach USD 91.86 Billion in 2022.
b. The global aluminum extrusion market is expected to grow at a compound annual growth rate of 7.5% from 2022 to 2030 to reach USD 168.88 Billion by 2030.
b. The Asia Pacific dominated the aluminum extrusion market with a volume share of over 76% in 2021, owing to increasing demand in infrastructure and architectural applications supported by government funding for infrastructure projects and subsidiaries for first home buyers.
b. Some of the key players operating in the aluminum extrusion market include Hindalco Industries Limited, Arconic Corporation, Norsk Hydro ASA, Constellium N.V., Kaiser Aluminum, Alupco, Gulf Extrusions Co. LLC, Balexo BAHRAIN ALUMINIUM EXTRUSION COMPANY, and QALEX.
b. The key factors that are driving the aluminum extrusion market include increasing aluminum content in vehicles owing to the focus towards improvement of fuel efficiency by original equipment manufacturers (OEMs).
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The mining industry accounts for a vital share of the global economy and is responsible for supplying key raw materials for several applications and end-use industries, thus being a key sector of focus amidst the ongoing pandemic outbreak. Mining industries in China are expected to return to normal operations by Q3 of 2020 as enterprises indicated towards the returning of their workers soon. Moreover, Iron ore producers are known to be the least impacted. Major players such as BHP and Vale reported experiencing no major influence on their operations due to the COVID-19 virus. The iron ore prices reached above USD 90 per ton amidst the pandemic situation which may negatively impact the end-use industries. The report will account for COVID-19 as a key market contributor.
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