Global Aluminum Extrusion Market
The global Aluminum Extrusion Market will expand at a rate of 7.8% over the next seven years. The expansion in the automotive industry and the extensive usage of extruded aluminum in the production of windows and doors will compel market growth.
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Aluminum Extrusion Market Dynamics
The augmenting application of aluminum extrusion across several end-use industry verticals such as automotive, transport, electronics, and building & construction is the major reason responsible for the growth of the global aluminum extrusion market. Also, the increasing prominence of aluminum as the fastest flourishing automotive material has raised the demand for electronic vehicles. Thus, the demand for vehicles that need extrusion products which include, roof rails, engine blocks, car chassis, and transmission housing, has strengthened the market growth. For example, the IEA stated that over 10 million automotive were sold by 2020. The registration of automotive raised by 41% in 202, in spite of the pandemic situation where the international car supply reduced by 16% throughout the nation. Moreover, the increasing establishment of the building and construction industry has complemented the market growth. For example, as per the IBEF, the government of India, in march 2021, upgraded its policy to raise the involvement in the infrastructure industry, leading to the public-private partnership model. Thus, India has programmed to disburse US$ 1.4 trillion on infrastructure projects via the National Infrastructure Pipeline from 2019 to 2023 to ensure a viable development in the country.
However, the growing agitation towards the asymmetrical structure of the extrusion may obstruct the market growth. Also, the slow extrusion process has raised the amount of overall force required for the extrusion procedure.
End-User Segment Drivers
Based on the End-User, the building and construction segment is likely to boom at a significant rate over the coming years. This is because of the accelerating urban population and infrastructural projects where aluminum extrusion is used in curtain walling, roofing, and exterior cladding in buildings & construction. Moreover, the elevated strength and reduced weight make it more appropriate for large buildings. This is likely to complement the market growth.
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