Rapid increase in infrastructure activities and increasing investments in construction & building sector to drive the demand for Global Aluminium-Extruded Products Market through 2026.
According to TechSci Research report, “Global Aluminium-Extruded Products Market – By Product Type (Mill-Finished, Anodized and Powder-Coated), By End-Use Industry (Building & Construction, Automotive & Transportation, Electrical & Electronics, Consumer Durables and Others), By Alloy Type (1000 Series, 2000 Series, 3000 Series, 5000 Series, 6000 Series and 7000 Series), By Shape (Composite Shapes, Rods & Bars and Pipes & Tubes), By Region, Competition Forecast & Opportunities, 2016-2026” Global Aluminium-Extruded Products Market was valued at USD53073 million in 2020 and is expected to reach USD79536.24 million by 2026 at a CAGR of 6.71%.Aluminium Extruded products perform efficiently under extreme conditions like humidity and heat and therefore, find application in numerous end use industries such as electronics, automotive, mass transit, bridge decking, telecommunications, and solar/renewable energy industries among others.
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Based on End-Use Industry the market is segmented into Building & Construction, Automotive & Transportation, Electrical & Electronics, Consumer Durables and Others. Building & Construction is the leading End-Use Industry in the Aluminium-Extruded Products Market with a share of 54.38% in 2020. This is due to the wide applications of aluminium-extruded products in window frames, panels, domed roofs and other wide-span infrastructure. Also, countries like the US, China, Japan, Germany, Spain, India and Australia have invested in major construction projects such as high-speed rail construction project, mega city developments, ports and airport construction, and construction for oil-field development, which is expected to increase the demand for aluminium-extruded products, globally.
Based on Alloy Type the market is segmented into (1000 Series, 2000 Series, 3000 Series, 5000 Series, 6000 Series and 7000 Series). In 2020, 6000 series alloy segment dominated the market with a share of 35.35% and is expected to grow at a CGAR of 6.32% from 2021-2026. High resistance to corrosion, and versatility make it perfect for fabrication in ladders, pipelines & platforms, tubing in furniture products, etc. Usage in trucks, trailers, automotive, bus, rail components augmented the demand for 6000 series alloy in recent times. Moreover, excellent machinability and increased corrosion resistance make it a perfect material for valves, screw machine parts, marine fittings, marine hardware, oil & gas fitting, nuts, hinges and coupling components.
In the year 2020, to prevent the spread of COVID-19, the whole world was under the lockdown which impacted the Global Aluminium-Extruded Products Market. According to TechSci Research’s estimates, the market suffered a decline of 8.34% in terms of value. This decline left a remarkable depreciation in the market, but the market is currently reviving and is set to overcome the descent in 2021-2022, owing to the shift in focus of all the organizations towards the construction sector, due to which the demand for aluminium extruded products is expected to increase.
Based on the region, Asia-Pacific accounted for the largest share of 50.58% in 2020 in the aluminium-extruded products market owing to well-established automobile and construction industries in this region. The use of aluminium-extruded products in construction reduces the load on foundations which makes it popular among real estate developers. Exterior cladding and panelling, roofing as well as facades and windows make use of its ability to resist environmental corrosion and accept decorative and protective finishes and with the increasing demand for better mileage for both passenger and commercial vehicles and environmental benefits demand in automobile is increased. Moreover, there are several mega projects undergoing in Asia-Pacific region, such as China Belt and Road Initiative in China and Smart Cities Project in India, which are expected to propel the demand for aluminium-extruded products in the forecast period.
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Some of the major players operating in the Global Aluminium-Extruded Products Market are United Company RUSAL, Alcoa Corporation, Aluminium Corporation of China Limited, Rio Tinto, Hindalco Industries Limited, Norsk Hydro ASA, Century Aluminum Company, Aluminium Bahrain B.S.C, Constellium SE, among others. Companies operating in the market are using organic strategies such as product development through addition of new features, partnerships, mergers and collaborations to boost their share in Global Aluminium-Extruded Products Market.
Extruded aluminium is used for busbars and electrical equipment as it is a good conductor of electricity. Aluminium-extruded with fins makes an excellent radiator or heat exchanger which is easy to mount and color and does not weigh too much when mounted overhead. Many automobile manufacturers such as autos, buses, trucks, and trailers are turning towards aluminium-extruded products to improve their fuel economy, enhance performance and increase their load-carrying capacity are expected to drive the Global Aluminium-Extruded Products Market in the coming years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Aluminium-Extruded Products Market – by Product Type (Mill-Finished, Anodized and Powder-Coated), By End-Use Industry (Building & Construction, Automotive & Transportation, Electrical & Electronics, Consumer Durables and Others), By Alloy Type (1000 Series, 2000 Series, 3000 Series, 5000 Series, 6000 Series and 7000 Series), By Shape (Composite Shapes, Rods & Bars and Pipes & Tubes), By Region, Competition Forecast & Opportunities, 2016-2026,” has evaluated the future growth potential of Global Aluminium-Extruded Products Market and provides statistics information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Aluminium-Extruded Products Market.
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