Aluminum Extrusion Global Market Report 2023

LONDON, GREATER LONDON, UK, November 16, 2023 /EINPresswire.com/ -- The global aluminum extrusion market, which experienced substantial growth from $86.16 billion in 2022 to $92.8 billion in 2023, is expected to maintain a steady Compound Annual Growth Rate (CAGR) of 7.7%. Despite the short-term setbacks resulting from the Russia-Ukraine conflict's impact on the global economic recovery from the COVID-19 pandemic, the market is anticipated to expand further, reaching a projected valuation of $124.73 billion by 2027. This trajectory is primarily attributed to the rise in the construction of green buildings, further fueling the demand for aluminum extrusions.

Factors Driving Market Expansion

The increase in the construction of green buildings worldwide has emerged as a critical catalyst for the aluminum extrusion market’s growth. With a focus on sustainability and energy efficiency, green buildings are designed to have minimal environmental impact while conserving energy and reducing carbon emissions. Aluminum has become an indispensable material in the construction of green buildings due to its unparalleled characteristics, including durability, recyclability, corrosion resistance, lightness, and malleability, making it ideal for sustainable architecture. Notably, the U.S. Green Building Council (USGBC) reported India's significant progress in Leadership in Energy and Environmental Design (LEED) in 2021, with 146 LEED-certified buildings and spaces, representing approximately 2.8 million gross area square meters (GSM) of space. This substantial growth underscores the increasing demand for aluminum extrusions in the construction of environmentally sustainable structures.

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Key Players and Strategic Partnerships

Leading players such as Hindalco Industries Limited, Hydro, and Arconic Corp. are actively engaging in strategic partnerships and collaborations to gain a competitive advantage and expand their presence across various regions. Notably, in January 2020, SMS Group and R.L. Best entered into a partnership to provide spare parts, modernizations, field services, and installation skills to extruders. SMS Group, based in Germany, specializes in supplying plants to the metallurgical industry for steel, aluminum, copper, and metals, while R.L. Best, headquartered in the United States, focuses on aluminum extrusion.

Segments:

• Product Type: Mill Finished, Anodized, Powder Coated
• Alloy Type: 1000 Series Aluminum Alloy, 2000 Series Aluminum Alloy, 3000 Series Aluminum Alloy, 4000 Series Aluminum Alloy, 5000 Series Aluminum Alloy, 6000 Series Aluminum Alloy, 7000 Series Aluminum Alloy
• End-Use: Building And Construction, Transportation, Machinery And Equipment, Consumer Durables, Electrical, Other End-Uses

Geographical Insights: Asia-Pacific Leads the Market

In 2022, Asia-Pacific emerged as the largest region in the aluminum extrusion market and is expected to maintain its dominant position throughout the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Aluminum Extrusion Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Aluminum Extrusion Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on aluminum extrusion market size, aluminum extrusion market drivers and trends, aluminum extrusion market major players, aluminum extrusion market competitors' revenues, aluminum extrusion market positioning, and aluminum extrusion market growth across geographies. The aluminum extrusion market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the aluminum extrusion market report and tap into segments with the highest growth potential.

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