The global aluminum extrusion market is anticipated to grow significantly at a CAGR of 3.6% during the forecast period. As the automotive manufacturer has to maintain their impetus for improved fuel economy, and reduced emissions, aluminum extrusion make a significant contribution. Aluminum is a material choice for the automotive manufacturer due to its environmental benefits, according to a report, around 90% of vehicle’s aluminum scaps are recovered, and recycled. Aluminum’s use in automobiles and commercial vehicles is speeding up as it provides a cost-effective way to raise performance and it also is recyclable so reducing environmental effect. Additionally, the aluminum extrusions reduce emissions and increase fuel economy while maintaining stability, and safety.
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The players are collaborating with emerging companies in order to develop new technologies. For instance, in January 2021, Oslo-based energy and aluminum producer Norsk Hydro ASA announced that the company is working on the new technology of aluminum, with a startup company named Nuvosil, the trial project can lead to a process that eases processing costs considerably and energy consumption around 90%.
Market Coverage
- Market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- By Product and By Application
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Hindalco Industries Ltd., Arconic Corp., Norsk Hydro ASA, Constellium, Qatar Aluminium Extrusion Co. (QALEX), Balexco Bahrain Aluminium Extrusion Co.
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in base year?
- Which segment/region will project fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from pre-COVID-19 forecast
- Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Aluminum Extrusion Market – Segmentation
By Product
- Shapes
- Rods & Bars
- Pipes & Tubes
By Application
- Building & Construction
- Automotive & Transportation
- Consumer Goods
- Machinery and equipment
- Others
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