The aluminium extrusion market is anticipated to have grown from USD 126.67 billion in 2023 to USD 195.48 billion by 2033. Aluminum scrap can be completely recycled into new aluminum extrusions. The development of aluminum is being fuelled by the use of green activities.
Aluminum extrusion is a manufacturing process where aluminum alloy material is forced through a shaped die to create objects with a specific cross-sectional profile. This process allows for the creation of complex shapes and designs with high precision. It is widely used in various industries, including construction, automotive, aerospace, and electronics, due to aluminum’s light weight, strength, and corrosion resistance.
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Aluminum Extrusions are becoming Popular due to their Excellent Performance
Aluminum is a light metal that weighs around one-third that of steel or copper. Aluminum extrusions are suitable for the construction industry due to their high strength-to-weight ratio. Aluminium is nearly 43 times more durable than wood. It may even outlast some steel grades, with the proper treatment or alloying. The highest tensile strength of aluminum material can reach 90,000. As a result, the manufacturing industry is attempting to transition from steel to aluminum.
Because oil-based plastics harm the environment, the global manufacturing industry is gradually transitioning to a non-plastic world. Moreover, aluminum, the most prevalent metal in the world’s crust, is also one of the most well-known sustainable resources. Although steel is the most often utilized alloy worldwide, aluminum’s market has a high potential.
Scrap metal can be completely recycled into brand-new aluminum extrusions. The increasingly prevalent use of green initiatives is encouraging aluminum growth. These applications are only possible because of aluminum’s favorable properties, which include its unique combination of strength and durability, conductivity, non-magnetic properties, and ability to be recycled repeatedly without losing integrity.
Rising Building Industry Demand
One of the key factors driving market growth is the increased construction of green buildings. Green buildings are popular all over the world due to their environmental friendliness, energy efficiency, and low carbon footprint. Extruded aluminum is in high demand in the construction industry because it is widely employed in the production of windows and doors for green buildings.
Aluminum extrusion is the process of shaping aluminum by creating an opening in the die or mold to generate the desired final product. The extrusion process employs high pressure to aluminum to produce the necessary parts through directional deformation from an extrusion device.
Key Takeaways from the Aluminum Extrusion Market:
- The aluminum extrusion market was valued at USD 121.10 billion in 2022, experiencing a CAGR of 3.8% from 2018 to 2022.
- The United States is expected to play a pivotal role in driving the growth of the aluminum extrusion market.
- China leads the global aluminum extrusion market, accounting for a significant 59.5% share of the market’s total value.
- Europe, known for its diverse industrial sectors, remains a prominent player, particularly within the automotive industry.
- The surge in demand for lightweight, long-lasting products is projected to drive the market.
Key Developments in the Aluminium Extrusion Market:
- December 2021 – Aluminum Products Corporation signed a pact to become a member of the worldwide copper alliance.
- April 2021 – Arconic Corporation purchased the Group annuity contract, reducing the gross pension obligation by USD 1 billion.
- December 2020 – Hindalco announced the inauguration of a new production facility in Silvassa to strengthen the company’s market position in India’s western and southern regions.
- February 2022 – Novelis opened a net zero lab in conjunction with HES-SO Valais-Wallis to investigate carbon-neutral solutions for aluminum manufacturing. As a result, the corporation could engage in decarbonization research, to become carbon neutral by 2050.
- August 2022 – Norsk Hydro ASA (Hydro) announced a NOK 300 million investment in a new automobile extrusion press at its Tonder, Denmark, company. The new 12-inch, 6000-tonne extrusion press serves the European automotive and electric vehicle markets, increasing manufacturing capacity and enabling larger cross-section extrusions.
- March 2022 – Etem Gestamp indicated that it plans to invest 60 million euros to expand its operations in Bulgaria for electric vehicle components. Etem Group and Gestamp Group decided to form a joint venture focused on the extrusion and processing of aluminum profiles for the automotive industry.
- September 2021 – Constellium SE announced that it is going to supply aluminum structural components for the recently unveiled all-electric Ford F-150 Lightning, which might go on sale in the spring of 2022. The F-150 Lightning, like all F-Series pickup trucks, is constructed primarily of high-strength aluminum alloys. Constellium supplied the windscreen header, rocker, radiator support, and other structural components for the F-150 Lightning.
Key Segmentations
By Product:
- Automotive Chassis
- Profile for Poles
- Profile for Bridges
- Profile for Rail Tracks
- Door & Window Profiles
- Curtain Walls
- Profile for Heat Exchangers
- Machinery Components
- Others
By End User:
- Aerospace
- Building & Construction
- Railways & Seaways
- Energy
- Defense
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa
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