Aluminum Extrusion Market Size, Share & Trends Report

Aluminum Extrusion Market Size, Share & Trends Analysis Report By Product (Pipes & Tubes, Shapes), By Application (Electrical & Energy, Building & Construction), By Region (MEA, APAC), And Segment Forecasts, 2021 - 2028

  • Published Date: Mar, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-3-68038-700-1
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 120

Report Overview

The global aluminum extrusion market size was valued at USD 57.29 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.8% from 2021 to 2028. 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 EPA, California Air Resource Board (CARB), and NHTSA, have enacted rules and regulations regarding Greenhouse Gas (GHG) emissions.

U.S. aluminum extrusion market size, by product, 2017 - 2028 (USD Billion)

For instance, emission regulations issued by the National Highway Traffic Safety Administration (NHTSA). As per these regulations, stringency for carbon dioxide standards and fuel economy increases 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.

Although, 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.

Product Insights

The shapes product segment accounted for the largest revenue share of 80% in 2020. 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 a 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, such 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 body panels and extruded shapes consist of the major portion of the body weight. Rods & bars are made with the help of the extrusion process, through the use of dies.

Rods are circular while bars have any number of flat sides. In the extrusion process, aluminum billets are heated and passed through 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.

Application Insights

The building & construction sector accounted for the revenue share of over 60% in 2020. The use of extruded products in construction activities has been greatly influenced by the 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 largest volume share in 2020 and is expected to grow at a lucrative CAGR over 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.

Global aluminum extrusion market share, by application, 2020 (%)

Consumer goods accounted for the lowest market share in 2020, 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.

Regional Insights

Asia Pacific dominated the global market and accounted for the largest revenue share of over 74% in 2020. The region will retain its dominant position throughout the forecast years due to the 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 aluminum extrusion market growth over the forecast period.

North America is projected to grow at a significant growth rate from 2021 to 2028, in terms of revenue. The resumption of industrial operations post Covid-19 lockdown 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 create 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.

Key Companies & Market Share Insights

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.

  • QALEX

Aluminum Extrusion Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 63.73 billion

Revenue forecast in 2028

USD 104.15 billion

Growth Rate

CAGR of 7.8% from 2021 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Volume in kilotons, Revenue in USD million/billion, and CAGR from 2021 to 2028

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.; QALEX

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope

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Segments Covered in the Report

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 2028. 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:

  • Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

    • Shapes

    • Rods & Bars

    • Pipes & Tubes

  • Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

    • Automotive & Transportation

    • Building & Construction

    • Consumer Goods

    • Electrical & Energy

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)

    • 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

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