Aluminum-Extruded Products Global Market Report 2024

The global aluminum-extruded products market has grown strongly in recent years. It will grow from $43.89 billion in 2023 to $46.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The expansion observed during the historical period can be ascribed to the influence of the industrial revolution, advancements in the aviation industry, widespread applications in architecture, increased adoption within the automotive sector, and the utilization of aluminum extruded products in the electrical industry.

The global aluminum-extruded products market is expected to see strong growth in the next few years. It will grow to $60.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period is linked to key factors such as the emphasis on recycling and the circular economy, cost-effectiveness measures, compliance with energy efficiency standards, bolstering supply chain resilience, and the surge in urbanization and construction projects. Noteworthy trends projected in the forecast period encompass the widespread adoption of sustainable solutions, increased applications in architecture, advancements in technology, and the growing significance of the renewable energy sector.

The expansion of the aluminum-extruded products market is being propelled by the growth observed in the automobile sector. The automotive industry, encompassing the development of various vehicles, heavily utilizes automotive aluminum extruders in crafting crucial components such as radiators, instrument panels, energy absorption boxes, and structural elements for vehicles. For instance, the Society of Indian Automobile Manufacturers (SIAM) reported that in the fiscal year from April 2021 to March 2022, approximately 23 million vehicles were manufactured, indicating growth compared to the previous year's roughly 22.6 million units. This growth trend highlights the increased demand for aluminum extruded products within the automotive domain.

A notable driving force in the aluminum-extruded products market is the escalating demand stemming from the construction industry. Construction, a key economic sector encompassing building, renovation, and infrastructure projects, highly relies on aluminum extruded products. These materials are widely used in construction and manufacturing industries. For instance, data released by the Office for National Statistics indicated a 5.6% increase in annual construction production in 2022 compared to the preceding year. This uptick in demand from the construction sector underscores its significant contribution to the aluminum extruded product market's growth.

Technological advancements within the aluminum industry are emerging as a pivotal trend in the aluminum-extruded products market. Key players in this sector are focused on technological progressions, leveraging innovations like blockchain technology to maintain market presence. An example of this is Rio Tinto's introduction of the START sustainability label for aluminum in February 2021. Utilizing blockchain technology, START facilitates consumer access to information about the manufacturing process of products, empowering informed choices based on environmental, social, and governance considerations. This innovation enables consumers to discern and opt for products with recognized sustainability credentials, contributing to a more sustainable future.

Major companies within the aluminum-extruded products market are innovating their product lines by introducing billet extrusion products. These products are integral in shaping various materials, particularly aluminum, for diverse applications. An illustration of this innovation is Vedanta Aluminium, an India-based producer of aluminum and value-added products, which unveiled their High-Speed Billets for the extrusion industry in December 2022. These billets, manufactured using advanced technologies such as the wagstaff hot-top air slip casting system and hertwich continuous homogenizing furnace, offer a notable enhancement in extrusion speed by a minimum of 25%. Vedanta's High-Speed Billets boast superior metallurgical properties, achieved through stringent process control and optimized chemistry, enabling remarkable extrusion speed without compromising the strength of the resulting profile.

In April 2021, Kaiser Aluminum Corporation, a US-based entity involved in aluminum production, made a strategic move by acquiring Alcoa Warrick LLC for $670 million. This acquisition signifies Kaiser Aluminum Corporation's strategic re-entry into the aluminum packaging sector, demonstrating an anticipation of considerable growth prospects in this segment. Alcoa Warrick LLC, based in the US, specializes in producing high-quality aluminum, including various value-add castings such as billet, foundry, rod, slab, and a portfolio of patented alloys. This strategic acquisition aligns with Kaiser Aluminum Corporation's aim to expand its market presence and capitalize on the potential within the aluminum packaging industry.

Major companies operating in the aluminum-extruded products market report are RUSAL, Aluminum Corporation of China Limited, Rio Tinto Group, Norsk Hydro ASA, Aluminium Bahrain B.S.C, Kaiser Aluminum Corporation, Sapa Inc., China Zhongwang Holdings Limited, Hindalco Industries Limited, Constellium SE, Talco Aluminium Company, Gulf Extrusions, China Hongqiao Group Limited, Alcoa Corporation, Bahrain Aluminium Extrusion Co., Century Extrusions Ltd., Bonnell Aluminium, Arconic Corporation, Qatar Aluminum Extrusion Company, Hydro Extrusion USA LLC, Western Extrusions Corp., Crystal Finishing Systems Inc., Universal Alloy Corp., Erbsloeh Aluminum Solutions Inc., Tower Extrusions Ltd., Alexandria Extrusion Co., Taber Extrusions LLC, Bristol Aluminum, Custom Aluminum Products Inc., Futura Industries Corporation

Asia-Pacific was the largest region in the aluminum-extruded products market analysis in 2023. The regions covered in the aluminum-extruded products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aluminum-extruded products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

These aluminum-extruded products come in three main types such as mill finished, powder coated, and anodized. Mill-finished products are utilized for interior embellishments and components in finished items. This type refers to extrusions without surface treatments, maintaining the natural silvery appearance of aluminum. These products are available in a range of alloy types, including 1000-series, 2000-series, 3000-series, 5000-series, 6000-series, and 7000-series, catering to diverse industries such as construction, automotive, electric and electronics, machinery and equipment, mass transport, as well as energy, telecom, and consumer durables.

This report provides aluminum-extruded products market statistics, including aluminum-extruded products industry global market size, regional shares, competitors with an aluminum-extruded products market share, detailed aluminum-extruded products market segments, market trends and opportunities, and any further data you may need to thrive in the aluminum-extruded products industry. This aluminum-extruded products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The aluminum-extruded products consist of sales of electrocoated aluminum, color coated aluminum, and wood finish aluminum. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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