Aluminum Extrusion Market Size to Hit US$ 104.52 Bn by 2030

November 25, 2021

The global aluminum extrusion market was valued at USD 57.75 billion in 2020 and is projected to hit USD 104.52 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030.

/EIN News/ -- Tokyo, Nov. 25, 2021 (GLOBE NEWSWIRE) -- Precedence Research, Recently Announced Report on “Aluminum Extrusion Market - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 - 2030”.

Aluminum extrusion is the process of molding aluminium using a die with a shaped opening. A ram drives the aluminium product through the die shape throughout this process, and it emerges in the same shape as the die. After the extruded product has cooled, it is placed on a stretcher to straighten it completely. Aluminum extrusion comes in three different shapes: hollow, semi-hollow, and solid. Aluminium extrusions are widely used in the building, construction, automotive, and transportation industries, as well as in the electrical industry.

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Crucial factors accountable for market growth are:

Scope of the Aluminum Extrusion Market

Report Coverage Details
Market Size in 2021 USD 57.75 Billion
Growth Rate From 2021 to 2030 CAGR of 8.1%
Fastest Growing Market North America
Largest Market Asia Pacific
Base Year 2021
Regional Scope
  • North America
  • Europe
  • Asia Pacific
Companies Covered Hindalco Industries Limited, Arconic Corporation, Aluminium Products Company (ALUPCO), Bahrain Aluminium Extrusion Co. (BALEXCO), China Zhongwang, Constellium N. V., and Gulf Extrusion Co. LLC.

Regional Snapshots

Asia Pacific is expected to grow significantly during the forecast period and is anticipated to contribute more than 75% of the market share owing to the rapid developmental activities performed in the developing countries such as India, China, Vietnam, Japan, and South Korea. For instance, On 7th January 2021, National Aluminium Company Limited (NALCO), announced that it will invest Rs.30,000 crores for expansion and business diversification.

Report Highlights

Market Dynamics

Driver - The rapid growth in the construction sector across the globe is a primary attribute that is estimated to drive the growth of the Aluminum Extrusion Market. For instance, On 7th December 2020, Hindalco Industries Limited announced that it has plans to invest ₹7,000 crore in ‘next few years’ in order to double its production capacity.

Restraint - The major restraining factor that will negatively impact the growth of the Aluminum Extrusion Market includes high initial set up cost and low production efficiency.

Opportunity - With the help of aluminium extrusion, industry players can produce a wide range of extruded goods in a variety of shapes and sizes on the same equipment, and this aspect is likely to drive the Aluminum Extrusion Market forward. For instance, On 23rd March 2021Alcoa Corporation has announced that it will supply sustainable aluminium for the wheels of the Audi e-tron GT, the first vehicle to employ metal produced using a new technology that abolish all direct carbon dioxide emissions from the typical smelting process.

Challenges - The slow extrusion process of aluminum will prevent it to be used in continuous production processes and this attribute is estimated to be a major challenge that will hamper the market growth.

Recent Developments

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Segments Covered in the Report

By Product

By Application

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