Aluminium-Extruded Products Market to Grow at 6.71% CAGR By 2026
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.
Browse 169 market data Figures and 13 data tables
spread through 217 Pages and an
in-depth TOC on " Global Aluminium-Extruded Products Market”
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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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