Aluminium Extrusion Market Outlook
According to a new report by Expert Market Research titled, “Aluminium Extrusion Market Outlook, Share, Size, Analysis, Report and Forecast 2023-2028″, the global aluminium extrusion market reached a volume of about 22.38 million metric tons in 2022. Aided by the growth of the construction industry and a push towards green building adoption, the market is projected to further grow at a CAGR of 5% between 2023 and 2028 to reach a volume of around 29.99 million metric tons by 2028.
Aluminium extrusion, a process through which aluminium alloy is transformed into a myriad of shapes and sizes, has gained considerable traction in a variety of applications due to its lightweight, durable, and corrosion-resistant properties. Serving as an efficient thermal and electrical conductor, aluminium extrusions are highly versatile, catering to a broad spectrum of industrial requirements, from structural frameworks to heat sinks.
The driving force behind the aluminium extrusion market growth is largely the rapid urbanisation and infrastructural developments observed globally. As modern architecture continues to embrace sleek design coupled with durability, aluminium extrusions have become the material of choice, offering aesthetic appeal without compromising on strength.
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Growing adoption for sustainable and environmentally friendly building materials is one of the major aluminium extrusion market trends. Aluminium, being 100% recyclable without loss of property, positions aluminium extrusions as a sustainable option, further accelerating its demand in green construction projects. Concurrently, the automotive industry, with its aim to improve fuel efficiency, is increasingly resorting to lightweight materials, with aluminium extrusions fitting the bill perfectly.
The aluminium extrusion market analysis showcases the material’s growing role in the renewable energy sector, specifically in solar panel installations. Aluminium extruded frames not only offer the required strength to hold the panels but also provide cost-effective solutions due to reduced maintenance and longevity.
Furthermore, the electronics sector is continually on the lookout for effective heat management solutions. These extrusions, with their superior thermal management properties, are increasingly being used in devices like LED lights and consumer electronics, further bolstering the aluminium extrusion market demand.
The market for aluminium extrusion is constantly growing driven by its widespread applications across diverse industries. Its characteristics, ranging from lightweight to high strength and recyclability, make it a go-to material in an increasingly eco-conscious world. As industries continue to innovate, aluminium extrusion’s role as a facilitator of these innovations becomes even more prominent.
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Aluminium Extrusion Market Segmentation
The market can be divided based on product type, alloy type, end use, and region.
Market Breakup by Product Type
- Mill Finished
- Anodized
- Powder Coated
Market Breakup by Alloy Type
- 1000 Series Aluminium Alloy
- 2000 Series Aluminium Alloy
- 3000 Series Aluminium Alloy
- 5000 Series Aluminium Alloy
- 6000 Series Aluminium Alloy
- 7000 Series Aluminium Alloy
Market Breakup by End Use
- Building and Construction
- Transportation
- Machinery and Equipment
- Consumer Durables
- Electrical
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global aluminium extrusion market. Some of the major players explored in the report by Expert Market Research are as follows:
- W.W. Grainger, Inc.
- Orange Aluminium Extrusions Stock
- Norsk Hydro ASA
- Aluminium Extrusion Company
- Others
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