Reports And Data

The rising demand in the energy sector and growing construction industry are driving the need for the market.

NEW YORK CITY, NY, UNITED STATES, March 10, 2022 /EINPresswire.com/ -- According to a new report by Reports and Data, the global Aluminum Extrusion Market is forecast to reach USD 119.89 Billion by 2027. In the construction industry, demand for pre-engineered buildings is growing, as they can be quickly assembled, dismantled, and transported easily. Aluminum extruded products are commonly used in various applications, in particular for pre-engineered building roofing. One of the key trends in the aluminum extrusion market will be the growing adoption of pre-engineered buildings, positively impacting the market’s growth.

In the automotive and aerospace and defense industries, demand for lightweight and high-performance materials such as aluminum, carbon fiber, and composites is growing. In the automotive industry, aluminum extruded goods are utilized to reduce emissions and increase vehicle fuel efficiency. Besides, the aluminum extruded products' high temperature and thermal shock resistance properties make them suitable for use in high-performance vehicles and high-performance engine applications. Also, extruded aluminum items have a high rate of recycling and exhibit excellent resistance to creep, fatigue resistance, and corrosion resistance.

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The aluminum extrusion market is driven by a rise in government incentives to use aluminum extrusions in Building Integrated Photovoltaic (BIPVs), which are used in renewable energy generation. One of the major factors driving the aluminum extrusion market is rapid growth in the building & construction industry.

Market Overview:
The chemical industry is expected to register significant revenue growth over the coming years driven by a recovery in domestic demand due to rising prices of crude oils and better exports. The chemical and material industry has undergone radical changes owing to long-term trends such as the evolution of advanced technologies such as the industrial internet of things (IIoT), artificial intelligence, machine learning, automation, and efficient data management tools. Increasing demand for novel chemical products such as soaps and detergents, particularly amid the COVID-19 pandemic, improvements in operational efficiency, and development of energy-efficient manufacturing and production processes are some other factors expected to drive market revenue growth going ahead. In addition, rapid adoption of trends such as sustainability and digitalization have further contributed to revenue growth of the materials and chemicals industry.

Key participants include Jindal Aluminum Ltd., Arconic, Century Aluminum, Global Aluminium Pvt. Ltd., Novelis, Constellium, QALEX, TALCO, Norsk Hydro ASA, and Gulf Extrusions, among others.

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Further key findings from the report suggest

The production of motor vehicles in India and Thailand is rising at a considerable pace, along with the increasing use of aluminum extrusions per vehicle. This has given rise to lucrative opportunities in the APAC aluminum extrusions market and is growing with a CAGR of 5.2% in the region.

Owing to its properties, such as good weldability, corrosion resistance, machinability, and electrical conductivity, aluminum extrusion plays a vital role in the aerospace industry. The extrusion is used in the compartments for galleys & trolleys, instruments, seats, and baggage.

Recyclability and oxidation resistance of extrusion materials made from aluminum guarantees the reliability of the overall device in which they are used. Nevertheless, low awareness of these items will be impeding market growth during the forecast period. Combined with the ease of recycling aluminum, the relatively low cost of manufacturing aluminum extrusions has broadened in many industrial, transportation, household, and everyday applications.

The demand for extrusion of aluminum is limited. Most of the large and existing market players sell and distribute widely to clients worldwide. Conversely, most of the smaller players are based on their regional markets.

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For the purpose of this report, Reports and Data have been segmented into the global Aluminum Extrusion market on the basis of product design, product type, application, and region:

Product Design Outlook (Revenue, USD Billion; 2017-2027)

Shapes

Rods & Bars

Pipes & Tubes

Product Type Outlook (Revenue, USD Billion; 2017-2027)

Mill finished

Powder Coated

Anodized

Application Outlook (Revenue, USD Billion; 2017-2027)

Building & Construction

Consumer Goods

Automotive & Transportation

Electrical & Energy

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Regional Outlook (Revenue, USD Billion; 2017-2027)

North America

Europe

Asia Pacific

MEA

Latin America

Thank you for reading our report. The report can be customized according to the clients’ requirements. To know more about the report, kindly get in touch with us and our team will ensure the report is customized to meet your needs.

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

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