βŒ› Aluminum Extrusion Market Present Scenario and Growth Prospects

Aluminum Extrusion Market Present Scenario and Growth Prospects

Aluminum Extrusion Industry Overview

The global aluminum extrusion market size was valued at USD 87.84 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030.

The automotive & transportation sector is witnessing an increase in aluminum content in internal combustion as well as Electrical Vehicles (EVs), which is likely to boost the market growth over the forecast period. Automobile manufacturers are under increasing pressure to meet the regulatory requirements pertaining to the environmental impact of vehicles. Agencies, such as the U.S. Environmental Protection Agency (EPA), California Air Resource Board (CARB), and National Highway Traffic Safety Administration (NHTSA), have enacted rules and regulations regarding Greenhouse Gas (GHG) emissions.

Gather more insights about the market drivers, restrains and growth of the Global Aluminum Extrusion Market

 

For instance, emission regulations issued by the NHTSA. As per these regulations, stringency for carbon dioxide standards and fuel economy increased by 1.5% from model years 2021 to 2026. This is projected to boost the demand for various aluminum components in automobiles over the coming years. The U.S. is a prominent producer and consumer of aluminum extrusion. The country is one of the severely hit countries due to the COVID-19 pandemic, which has resulted in major consequences in the manufacturing activities, thereby, negatively affecting the product demand. In the first half of 2020, various non-essential businesses were compelled to operate at lower capacity, thereby affecting the demand for raw materials and creating disruptions in the supply chain.

 

The aerospace & defense, automotive, and construction industries have been majorly impacted due to the pandemic in the U.S., observing a decline in demand for extruded products. However, construction activities were provided some relaxation post the first quarter of 2020. The construction activities were acknowledged under essential businesses, which led to the opening of material inflow for construction purposes. Depressing sentiments in new construction activities directly reduced the volume flow of aluminum extrusion in the U.S. during FY 2020. Low costs and weight of extrusion products contribute to their rising demand in various industrial applications, mainly in the automotive and aerospace & defense sectors.

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Key Companies Profile

Some of the prominent players in the global aluminum extrusion market include:

  • Hindalco Industries Ltd.
  • Arconic Corp.
  • Norsk Hydro ASA
  • Constellium N.V.
  • Kaiser Aluminum
  • QALEX

 

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Nayara Rajput N
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Nayara Rajput

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