Market Research Future asserts that the global aluminum extruded products market to garner a significant 6.5% compound annual growth rate during 2017-2025 and grow to a market valuation worth USD 68.5 billion by 2025 end.
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In the process of aluminum extrusion, the aluminum alloy is molded into objects that possess characteristic cross-sectional profile. These products are called aluminum extruded products which due to their strong physical properties and definitive shape are extensively used in the construction and automobile industry. Owing to the high flexibility, high strength, high durability, and high sustainability of aluminum extruded products, they find numerous applications in the construction industry, like construction of pedestrian bridge, poles, railings, and others. Aluminum extrusion products are capable of withstanding severe conditions, like heat, abrasion, humidity, and others. These properties of the products are successfully replacing the use of steel in automobile industry. Aluminum extrusion products are used in manufacturing electric vehicles, due to its light weight and corrosion resistive nature. The products also curb down heat flow, leading to an increase in energy efficiency, thereby reducing the manufacturing and maintenance charge of these electric automobiles. Rising air pollution and stringent government regulation regarding gas emission are increasing the adoption of electric vehicles, hence triggering manufacturing of more aluminum extrusion product. These factors are identified to augment the global aluminum extrusion market growth.
However, there are certain daunting challenges which can interfere the market expansion. MRFR predicts that lack of awareness about numerous benefits of the products, and health and environmental hazards concerning bauxite mining are possible constraints that can impede the global aluminum extrusion market proliferation.
Global Key Players:
Hydro Extruded Solutions
China Zhongwang Holdings Limited
Gulf Extrusions Co. LLC
Hindalco Industries Limited
Century Extrusions Limited
MRFR’s segmental analysis of the global Aluminum Extruded Products Industry provides a holistic understanding of the market. The global aluminum extruded products market study has been segmented into product type, alloy type, and end use.
Based on the product type, the market has been segmented into mill-finished, anodized, and powder-coated. Owing to the extensive use of mill-finished aluminium extruded products in the construction and automotive industries due to its high strength, affordability, supreme strength to sustain high temperature and pressure, the mill-finished segment is estimated to attain the highest 5.5% CAGR in the upcoming years.
Based on the alloy type, the market is divided into 6000 series aluminum alloys, 7000 series aluminum alloys, 5000 series aluminum alloys, 1000 series aluminum alloys, 2000 series aluminum alloys, and 3000 series aluminum alloys. The 6000 series aluminum alloys are excellent corrosion resistive and possess high versatility that is expected to impel the market registering a 6.7% CAGR in the forthcoming years.
Based on the end use, the market has been classified into construction, automotive, transportation & logistics, electrical & electronics, and others. The aluminum extruded products are widely used in windows and doors, production of aluminum glass frames, photovoltaic panel framing, and others. Hence, the construction segment of the market is expected to exhibit a 6.6% CAGR during the forecast period.
The regional segmentation of the global aluminum extruded products market provides a vivid knowledge about the regional market status, proffering clients to prepare strategies which can augment the market growth. The market has been segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
MRFR forecast, the Asia Pacific aluminum extruded products market to be the premier market which is expected to proliferate with an outstanding 7% CAGR by 2025 holding the premier position. Followed by the lead, the European market is anticipated to expand to a market size worth USD 9,756.5 million 2025 end. The North American market is predicted to exhibit a rapid growth.
In May 2019, Alexandria Industries, a innovative contract manufacturer to invest in a new aluminum extrusion press, that will make aluminum components to use in products people see and use daily.
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