Aluminum Extruded Products Market Size & Share, by Product Type (Anodized, Mill-Finished, Powder Coated); Alloy Type (1000 Series, 2000 Series, 3000 Series, 7000 Series Aluminum Alloy); End-user (Transportation & Logistics, Building & Construction, Automotive, Electrical & Electronics, Consumer Durables) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4128
  • Published Date: Mar 10, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

 Aluminum Extruded Products Market size is expected to cross USD 90 Billion by the end of 2035, witnessing around 9% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of aluminum extrusion products was USD 50 Billion. The growth of the market can be attributed to the high demand for aluminum-extruded products in the construction and automotive industry. Aluminum extrusion is the process of shaping aluminum to improve its tensile strength. Aluminum-extruded products are extremely light-weighted and perform efficiently under extreme conditions such as humidity, heat, vibrations, and abrasions. The inherent characteristics of aluminum extruded products are flexibility, high strength, and surface coating qualities. On account of expanding construction industry, the global aluminum extruded products industry is projected to witness growth over the forecast period. Furthermore, it is estimated that the construction industry would reach up to USD 15 trillion by 2030. Other than construction, there are various other domains where aluminum extruded products are used, such as air conditioning, solar panels, defense, and textile.

Moreover, aluminum extrusion is utilized in making light-weighted and strong structures and frames in the solar energy industry. According to the data released by International Energy Agency, solar PV generation increased to 821 TWh (23%) in the year 2020 and was expected to reach up to 6970 TWh by 2030 globally. On the back of the myriad uses of aluminum extruded products, the global aluminum extruded products market is expected to grow significantly over the forecast period. The market growth is also attributed to the increasing applications of extruded aluminum in various industries owing to its corrosion resistance, heat conduction, lightweight, nonmagnetic, and easy interlocking characteristics.


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 Aluminum Extruded Products Sector: Growth Drivers and Challenges

Growth Drivers

  • Soaring Construction Sector across the Globe with Rising Disposable Income – The increasing number of hospitals, and rising commercial and residential buildings with increasing population and businesses are estimated to propel the market growth. Also, the construction of buildings increases the employment opportunity for the people rising the economic standards of the population. The growing need for hospitals was on the rise from the pandemic which drives the market growth in coming years. As per the reports in 2022, the total expenditure of the construction sector was expected to increase by over 15% from 2020 in the U.S.

  • Growing Number of Solar Power Plants to Decrease the Dependency on Fossil Fuels – As of 2022, there are over 20 million homes with installation of solar panels in America as per the reports.

  • Increasing Use of Heat Radiators with Rising Need for Heat Sources – According to a report, heating radiators were made a value of ~USD 5 billion in 2021 across the world.

  • Escalating Demand for Automobiles Across the World – The number of new automobiles sold in the United States in the year 2022 was estimated to be between 13 million to 14 million.

Challenges

  • Uneven Distribution of Products and Low Production Efficiency - The increasing defects and inconsistent production of products during manufacturing are estimated to hamper the market growth. This increases the operational cost which in turn decreases the production efficiency in the industries limiting the market growth.
  • Lack of Awareness Regarding Extruded Products  
  • Increasing Availability of Alternatives for Aluminum

Aluminum Extruded Products Market - Key Insights

Base Year

   2022

Forecast Year

   2023-2035

CAGR

   ~9%

Base Year Market Size (2022)

   ~ USD 50 Billion

Forecast Year Market Size (2035)

   ~ USD 90 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Aluminum Extruded Products Segmentation

Product Type (Anodized, Mill-Finished, Powder Coated)

The global aluminum extruded products market is segmented and analyzed for demand and supply by product type into anodized, mill-finished, and powder coated. Out of the three types, the powder coated segment is estimated to gain the largest market share over the projected time frame. The powder coating is rising the lifespan and durability of steel. The powder coating provides the aesthetic look of the product, reduces UV damage, and resistance to weather, and reduces air pollution, and maintenance costs. The use of powder coated aluminum is applied for outdoor furniture, construction equipment, and exterior building features. Also, the powder coating is estimated to prevent the steel from rusting, and fading, and withstand climatic changes outdoors. All these factors are estimated to propel the market segment growth during the forecast period. The powder coating was anticipated to reach over USD 11 billion market value in 2020 with rising demand for powder coats across the world.

End-user (Transportation & Logistics, Building & Construction, Automotive, Electrical & Electronics, Consumer Durables)

The global aluminum extruded products market is also segmented and analyzed for demand and supply by end-user into transportation & logistics, building & construction, automotive, electrical & electronics, and consumer durable. Out of which, the building & construction segment is anticipated to hold the largest share in the global aluminum extruded products market owing to the rising construction sector. Additionally, with rising urbanization, more houses are being made leading to an unprecedentedly growing construction sector. The increasing consumption of extruded products in the construction of buildings for various purposes is estimated to drive market growth. The increasing repairs for monuments, establishment of new commercial spaces, and improvement in hospital infrastructure are also driving the market growth as per the market analysis. The growing demand for construction is attributed to the increasing economic standards of countries leading to the improvement of roads and railways. According to the estimations, U.S. commercial construction is expected to reach a value of over USD 100 billion between 2022-2027.

Our in-depth analysis of the global market includes the following segments:

        By Product Type

  • Anodized
  • Mill-Finished
  • Powder Coated

       By Alloy Type

  • 1000 Series Aluminum Alloy
  • 2000 Series Aluminum Alloy
  • 3000 Series Aluminum Alloy
  • 7000 Series Aluminum Alloy

        By End-User

  • Transportation & Logistic 
  • Building & Construction
  • Automotive
  • Electrical & Electronics
  • Consumer Durables
 

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Aluminum Extruded Products Industry - Regional Synopsis

APAC Market Statistics

The Asia Pacific aluminum extruded products market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the flourishing housing and construction sector. Developing economies, such as India and China are spending huge budgets on infrastructural development. It is estimated that in 2020, the construction industry in China estimated to be valued at USD 1050 billion. Moreover, many of the largest solar power plants are located in China and India. The global aluminum extruded products market is also projected to grow over the forecast period, on the back of the growing number of solar panels. The increasing fuel costs and extinction of fossil fuels are estimated to increase the use of solar power plants. The use of solar power plants for heat production, electricity, and power generation is increasing the market growth in the region.

North American Market Forecast

The global aluminum extruded products market is estimated to witness significant growth over the forecast period in the North American region on the back of flexible government guidelines in the region and on account of remarkable practices followed by governments for facilitating trade amongst businesses. Furthermore, the Aluminum Extruders Council is a trade association that is dedicated to advancing the effective use of aluminum extrusion in the North American region.

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Aluminum-Extruded-Products-Market-Region
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Companies Dominating the Aluminum Extruded Products Landscape

top-features-companies
    • Hindalco Industries Ltd.
      • Company Overview 
      • Business Strategy 
      • Key Product Offerings 
      • Financial Performance 
      • Key Performance Indicators 
      • Risk Analysis 
      • Recent Development 
      • Regional Presence 
      • SWOT Analysis 
    • China Zhongwang Holdings Limted
    • Arconic Corporation
    • Constellium SE
    • Century Extrusions Limited
    • Bonnell Aluminum
    • Gulf Extrusions Co. LLC
    • Talco Aluminium Company
    • Kaiser Aluminum Corporation
    • Qatar Aluminum Extrusion Company 

In the News

  • Hindalco Industries Ltd. announced that it has acquired the aluminum extrusion plant of Norsk Hydro ASA that is located in India. 

  • Constellium SE in association with Morf3D, Inc., announced that they have collaborated on the additive manufacturing development program, for Aheadd CP1 aluminum powder.

 

Author Credits:  Dhruv Bhatia


  • Report ID: 4128
  • Published Date: Mar 10, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The soaring construction industry and a growing number of solar plants are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 9% over the forecast period, i.e., 2023-2035.

Lack of awareness regarding aluminum extruded products and increasing availability of alternatives are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Norsk Hydro ASA, China Zhongwang Holdings Limted, Arconic Corporation., Constellium (NYSE), Century Extrusions Limited., Bonnell Aluminum, and Gulf Extrusions Co. LLC, Talco Aluminium Company, Kaiser Aluminum Corporation, Qatar Aluminum Extrusion Company.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product type, alloy type, end-user, and by region.

The building & construction segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Aluminum Extruded Products Market Report Scope
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