Aluminum Extrusion Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Aluminum Extrusion Market Size and Forecasts (2021 - 2031), Global and Regional Growth Opportunity Analysis, and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPMC00002732
  • Category : Chemicals and Materials
  • Status : Upcoming
  • No. of Pages : 150
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MARKET ANALYSIS

Aluminum extruded products are manufactured by forcing heated aluminum alloy material through a die with a specific cross-sectional profile. These include pipes and tubes, rods and bars, angles and panels, engine blocks, roof rails, chassis of vehicles, among others. Aluminun extruded parts come with different finishes such as mill finished, anodized, powder coated, mechanical finish, among others. They are widely used in various end-use industries such as construction, automotive, aerospace and defense, energy, and power, and electrical and electronics.

GROWTH DRIVERS AND CHALLENGES

The growing demand for aluminum extruded products across various end-use industries especially construction, automotive and aerospace, and energy and power is one of the key factors driving the aluminum extrusion market growth. The rising sustainability concerns is driving the demand for lightweight automotive parts. Aluminum extrusion helps in designing lightweight yet high strength automotive parts. Also, these parts are highly resistant to corrosion and abrasion. These properties are driving the demand for aluminum extruded products across the automotive industry.

Similarly in the construction sector, aluminum extruded parts are being used extensively due to their durability, high corrosion resistance, high chemical and stability, and aesthetic appeal. Further, in the energy and power sector, aluminum extruded products are widely used in solar and wind sector as they are resistant to extreme weather conditions such as rain, storms, and humidity. Thus, growing usage of aluminum extruded products across various end-use industries due to their favorable properties is driving the growth of the aluminum extrusion market.

REPORT SEGMENTATION AND SCOPE

The "Global Aluminum Extrusion Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global aluminum extrusion market trends and growth opportunities. The report aims to provide an overview of the global aluminum extrusion market with detailed market segmentation by product type, finish type, end-use industry, and geography. The global aluminum extrusion market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of aluminum extrusion worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the aluminum extrusion market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the aluminum extrusion market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative aluminum extrusion market opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global aluminum extrusion market, which helps understand the entire supply chain and various factors affecting the market growth.

SEGMENTAL ANALYSIS

The global aluminum extrusion market is segmented on the basis of product type, finish type, and end-use industry. Based on product type, the aluminum extrusion market is segmented as pipes and tubes, rods and bars, angles and panels, and others. The aluminum extrusion market is categorized on the basis of finish type into mill finished, powder coating, anodizing, and others. Based on end-use industry, the aluminum extrusion market is segmented into automotive and aerospace, construction, energy and power, electrical and electronics, healthcare, and others

Based on end-use industry, the construction segment accounted for a significant market share in 2022. Nowadays, sophisticated architecture relies heavily on aluminium extrusions. Aluminium extrusions are used in load-bearing structures, facades, claddings, windows, shop fronts, partitions, curtain walling, patent glazing, conservatories, glass houses, roofing scaffolding, architectural hardware, expansion joints, solar panel frames, etc. The global construction industry is growing at a rapid pace due to rising population, increasing urban population, and rising government and private sector investments for infrastructural development. Thus, the growth of the construction industry coupled with increasing demand for aluminum extrusions across the industry are driving the market growth.

REGIONAL ANALYSIS

The report provides a detailed overview of the global aluminum extrusion market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific hold the significant share in the aluminum extrusion market in 2022. Countries such as China and India are among the largest producers of aluminum extrusion products across the globe. Also, the automotive, construction, and energy sectors in the Asia Pacific countries are emerging strongly. These factors provide strong growth potential to the aluminum extrusion market across Asia Pacific over the forecast period.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnership, acquisitions and new product launches were found to be the major strategies adopted by the players operating in the global aluminum extrusion market.

In December 2021, Hindalco Industries Limited acquired Hydro’s aluminum extrusions business in India with an aim to serve robust portfolio of reputed customers across the country

 In November 2021, Extruded Aluminum Corporation invested US$ 30.4 million to expand its manufacturing facility in Michigan, the US.

IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

The covid-19  The COVID-19 pandemic adversely impacted the global economy and slowed the growth of various industries. The shutdown of multiple manufacturing plants and factories in North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Further, various companies announced possible delays in product deliveries and a slump in sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia Pacific, and North America affected business collaborations and partnership opportunities. All these factors negatively affected the growth of the aluminum extrusion market across the globe. The construction industry was also hampered as some infrastructure projects as well as residential constructions were cancelled or postponed. This factor resulted in decline in demand for construction materials and parts including aluminum extruded products, hampering the market growth. However, with the introduction of vaccine and relaxation of restrictions by the governments, the marketplace witnessed recovery. Manufacturers started working with full capacity which helped them to overcome the demand and supply gap.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the aluminum extrusion market include Banco Aluminium Limited, Jindal Aluminium Limited, Norsk Hydro ASA, Arconic, Constellium, Gulf Extrusions Co. LLC., Aditya Birla Management Corporation Pvt. Ltd., Century Aluminum Company, Capital Aluminium Extrusions Limited, and Hulamin Limited  among others.

REGIONAL FRAMEWORK
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. Galco Group
2. Banco Aluminium Ltd
3. Norsk Hydro Asa
4. Arconic
5. Constellium
6. Gulf Extrusions
7. Barrak Al-Fares
8. Capital Aluminium Extrusions Limited
9. Hindalco-Novelis
10. Aluminium Products Company

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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