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Forecast Period
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2024-2028
|
|
Market Size (2022)
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USD 1.63 Billion
|
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Largest Market
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Riyadh
|
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CAGR (2023-2028)
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5.48%
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Fastest Growing Segment
|
Automotive & Transportation
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The global Steel Long Products Market has valued at USD 1.63 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.48% through 2028. Saudi Arabia Aluminium-Extrusion
market is expected to register a robust CAGR during the forecast period. Increase
in demand for lightweight and durable extrusion products in various industries
is expected to drive the market growth of Saudi Arabia aluminium extrusion
during the forecast period.
Aluminium
extrusion is the process of shaping Aluminium using a mold cavity. In the
extrusion process, the ram pushes the Aluminium product out of the mold and
comes out with the same shape as the mold. After the Extrusion product has
cooled, it is moved to a certain distance so that it is perfectly straight.
There are basically three shapes of Aluminium extrusions: Hollow, Semi-Hollow
and Solid. Aluminium extrusions are widely used in the building and
construction, automotive and transportation, and electrical industries.
Increase in Demand for Housing Boosts Aluminium-Extrusion
Market in the Forecast Period
Saudi Arabia residential market grew in the third
quarter of 2022, and apartment prices in Riyadh increased at the highest rate
in at least five years by 17% 2017-2022. During the same time, villa prices
increased by close to 10%.
The arrival of Saudi nationals and expatriates moving
to Riyadh from other cities is directly fuelling the rising demand, which is
being fuelled by a growing urban population. Apartment prices in Jeddah, like
those in Riyadh, increased by 11.7%, in 2022.
The increase in demand for housing in Saudi Arabia has
significantly boosted the aluminium-extrusion market. As the country
experiences population growth and urbanization, there is a rising need for
residential construction, which drives the demand for aluminium extrusions.
Aluminium extrusions are widely used in the construction industry for window
frames, door frames, curtain walls, and other structural components. The
lightweight, durability, and versatility of aluminium, make it a preferred
choice for building materials. The surge in housing demand in Saudi Arabia has
created a robust market for aluminium extrusions, stimulating growth and
opportunities for manufacturers in the industry.
Increase in Demand of Lightweight Materials in
Automotive Will Propel the Market in the Forecast Period
The automotive industry is seeing an increase in the
development of lightweight materials like aluminum, which makes it possible to
make vehicles with lighter bodies. Client prerequisites, like style, tasteful
appearance, decreased NVH (commotion, vibration, and cruelty), and solace, are
additionally impacting lightweight materials innovation. New manufacturing
processes, secondary mass effects, and integrated vehicle system design have
all contributed to a weight reduction of nearly 30% in high-strength steel-intensive
vehicle bodies and nearly 40% in aluminum-intensive vehicle bodies thanks to
mass-optimized design technology. Even
though aluminium has been used for a long time in automotive, the market is
driven by innovations in aluminium industry such as increase in aluminium’s
strength and ductility and related casting machinery. For instance, Tesla CEO
Elon Musk announced in September 2020 that a single aluminium casting
machine-made module would replace 70 components that were bonded and riveted
into the rear underbody of the new Model Y.
In general, EVs use aluminium extrusion products to
increase range of vehicle, safety, and overall driving aesthetics, along with
improving fuel economy (in PHEVs). The parts where aluminium extrusions can be
used are Space frames, doors, hoods, hang-on parts, trunk lids, bumpers, crash
boxes, bodies in white, and car bodies, among other components. Regulatory
authorities emphasized on fuel efficiency and light weight of the body, due to
which market is expected to expand over the forecast period as they implement
laws to cut carbon emissions and materials costs through constant R&D.
Giga Infrastructure Projects in Saudi Arabia to Boost
the Construction Market Sector
Saudi Arabia's many Giga projects in progress, such as
transportation and mobility initiatives like the Riyadh Metro, social
infrastructure developments like the Ministry of Housing's Sakani program, and
energy megaprojects like the state-owned Aramco's Berri and Marjan Oil Fields,
highlight the significance of construction and many more in the list.
The Saudi Arabia big cities, which are currently under
construction, will provide future growth as the nation's economy enters a
post-oil era. More than 5,200 construction projects worth USD819 billion are
underway in Saudi Arabia. The value of these ongoing projects in the Gulf
Cooperation Council (GCC) is approximately 35% of the total value. Neom, the
Red Sea Project, Qiddiya entertainment city, Amaala, Jean Nouvel's Sharaan
resort in Al-Ula, Makkah Grand Mosque – Third Expansion, Jeddah Tower, Ministry
of Housing's Sakani homes, Jabal Omar, Al Widyan, Riyadh Metro, Riyadh Rapid
Bus Transit System, King Fahd Medical City Expansion, King Abdullah Bin
Abdulazi, among others, are some of the major Infrastructure projects that are
currently active or some will be started in near future. As per rising projects,
the demand of Aluminium-Extrusion in manufacturing process is positively
impacted. However, all Giga Infrastructure Projects in Saudi Arabia that are
explained above, will boost the market in the forecast period.
Emerging Technologies and Innovations in Saudi Arabia
Aluminium-Extrusion Market
Extrusion of aluminium is a tried-and-best method for generating
intricate designs and forms out of aluminium alloys. It is used extensively in
construction, automotive, aerospace, consumer goods, and other sectors. Since
years, aluminium extrusion has undergone numerous improvements, resulting in a
more cost-effective and efficient method. New technologies that promise to
further alter the process have emerged in recent years.
Some of the Emerging
Technologies and Innovations are:
- Three-dimensional
printing: The ability of 3D printing
technology to produce very complicated designs quickly and affordably has
grabbed interest in a wide range of sectors. The necessary extrusion dies can
be made using 3D printing in aluminium extrusion. This technology can produce
detailed shapes and geometries that are difficult to achieve using other
die-making methods. Its flexibility can make it possible to make new designs
and cut down on the amount of time and money spent making traditional dies.
- Hot Extrusion: The
modern innovation known as hot expulsion includes extruding aluminum at higher
temperatures than those utilized in more routine strategies. The aluminum gets
to be more adaptable because of the tall temperatures, making it conceivable to
expel more slender dividers and more troublesome plans. By utilizing hot
expulsion, aluminum parts can be made more grounded and more complicated,
decreasing the requirement for extra fabricating steps.
- Artificial Intelligence: The
prominent field of artificial intelligence (AI) has the potential to transform
numerous industries, including aluminium extrusion. AI can be used to make the
extrusion process work better, resulting in less waste of materials and good
products. Extrusion component flaws can also be detected by AI, reducing the
need for manual inspection, and improving quality control.
- Robotics: An
emerging trend in aluminium extrusion is robotic technology. The extrusion
process can be automated with robots, reducing the need for human labour, and
increasing productivity. Material handling and product inspection are two other
areas where robotic technology can be used to improve quality control and
shorten lead times in Aluminium Extrusion. All the above-mentioned technologies
are gaining traction, due to which the market is expected to register a high
CAGR in the future time frame.
The process of aluminium extrusion has a bright future
due to new developments and technologies that assure to further modernize it.
The aluminium extrusion industry's future will be shaped by new technologies
like 3D printing, hot extrusion, hybrid extrusion, nanostructured aluminium,
recycling, artificial intelligence, and robotics. The aluminium extrusion
process is even more interesting because these technologies make it possible to
increase design flexibility, efficiency, cost-effectiveness, and quality
control.
Market Segments
Saudi Arabia Aluminium-Extrusion Market is segmented based on Product Type, End-Use Industry, Alloy Type, and
Shape. Based on Product Type,
the market is fragmented into Mill-Finished, Anodized, and Powder-Coated. Based
on End-Use Industry, the market is
further fragmented into Building & Construction, Automotive &
Transportation, Electrical & Electronics, Consumer Durables, and Others. Based
on Alloy Type, the market is fragmented
into 1000 Series, 2000 Series, 3000 Series, 5000 Series, 6000 Series and 7000
Series. Based on Shape, the market is fragmented into
Composite Shapes, Rods & Bars, and Pipes & Tubes.
Market Players
The market players in the Saudi Arabia Aluminium-Extrusion Market include
Aluminium Products Company Ltd., Eastern Aluminium Extrusion, Emirates Global
Aluminium, Gulf Extrusion Company LLC, Al Taiseer Aluminium Company, Taweelah
Aluminium Extrusion Company LLC, National Aluminium Products Company, Elite
Extrusion LLC, Emirates Extrusion Factor LLC, Arabian Extrusions Factory.
|
Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic Data
|
2018–
2021
|
|
Estimated Year
|
2023
|
|
Forecast Period
|
2024
– 2028
|
|
Quantitative Units
|
Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
|
|
Report coverage
|
Revenue
forecast, company share, growth factors, and trends
|
|
Segments covered
|
Product Type
End-Use Industry
Alloy Type
Shape
Region
|
|
Regional scope
|
Riyadh,
Makkah, Eastern Province, Rest of Saudi Arabia
|
|
Key companies profiled
|
Aluminium Products Company Ltd., Eastern Aluminium Extrusion,
Emirates Global Aluminium, Gulf Extrusion Company LLC, Al Taiseer Aluminium
Company, Taweelah Aluminium Extrusion Company LLC, National Aluminium
Products Company, Elite Extrusion LLC, Emirates Extrusion Factor LLC, Arabian
Extrusions Factory
|
|
Customization scope
|
10%
free report customization 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
|
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, Saudi Arabia Aluminium-Extrusion
Market has been segmented into the following categories, in addition to
the industry trends which have also been detailed below:
·
Saudi Arabia Aluminium-Extrusion Market, By Product Type:
o
Mill-Finished
o
Anodized
o Powder-Coated
·
Saudi Arabia Aluminium-Extrusion Market, By End-Use Industry:
o
Building &
Construction,
o
Automotive &
Transportation
o
Electrical &
Electronics
o
Consumer Durables
o Others
·
Saudi Arabia Aluminium-Extrusion Market, By Alloy Type:
o
1000 Series
o
2000 Series
o
3000 Series
o
5000 Series
o
6000 Series
o 7000 Series
·
Saudi Arabia Aluminium-Extrusion Market, By Shape:
o Composite Shapes
o Rods & Bars
o Pipes & Tubes
·
Saudi Arabia Aluminium-Extrusion Market, By Region:
o
Riyadh
o
Makkah
o
Eastern Province
o
Rest of Saudi Arabia
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in the Saudi Arabia Aluminium-Extrusion
Market.
Available Customizations:
TechSci Research offers customizations
according to a company's specific needs. The following customization options
are available for the report:
Company Information
·
Detailed analysis and profiling of additional
market players.
The Saudi Arabia Aluminium-Extrusion
Market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]