The Global Extruded Aluminum Profiles Market was valued at US$ 72000.0 million in 2021, according to the Global Extruded Aluminum Profiles Market Report, by Alloy Type (1000 Series Alloy, 3000 Series Alloy, 6000 Series Alloy, and Others), by Product Type (Pipes & Tubes, Rods & Bars, and Shapes), by Finish Type (Mechanical, Anodized, Powder Coated, and Others), by End-use Industry (Construction, Automotive, Artificial Intelligence Infrastructure, Solar Energy, Transportation, Electrical, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East & Africa), published by Coherent Market Insights..
Global extruded aluminum profiles was valued at US$ 72000.0 Million in 2021. Extruded aluminum profiles market is expected to register a CAGR of 5.67 % over the forecast period (2022–2030), to reach US$ 118175.5 Million by 2030.
The demand for aluminum is increasing from the construction sector across the globe. For instance, according to the 2020, Industry Statistics by Aluminum Association, total aluminum demand across North America surged by 0.7% as compared to 2019. The escalating consumption of extruded aluminum in the construction industries for production of window and door frames is driving the growth of the extruded aluminum profiles market. The demand for aluminum in the construction sector is increasing, owing to various benefits it offers such as reduced heat effect, durability, and lightweight nature. Moreover, extruded aluminum profiles provide noise control and moisture resistance, which are major drivers for market growth.
The global market for extruded aluminum profiles has been negatively impacted due to the ongoing COVID-19 pandemic. This can be attributed to the increasing number of preventive measures such as lockdown and cease in economic activities which have severely impacted the construction sector. Moreover, shutting down of automotive, electrical, and solar infrastructure industries are expected to hamper the demand for extruded aluminum profiles market. For instance, as per the CAR (Center of Automotive Research) report published on April 13, 2020, shut down of Ford Motor Co. since the imposition of lockdown is expected to result in a loss of US$ 600 million for the first quarter of 2020. Despite the pandemic situation, several countries have decided to continue the construction activities. For instance, in April 2020, the U.K. government approved the continuation of the construction of High-Speed 2 (HS2) rail project. This in turn, is expected to create demand for extruded aluminum profiles in the coming years.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/extruded-aluminum-profiles-market-4500
Browse 50 market data tables* and 40 figures* on "Global Extruded Aluminum Profiles Market” - Forecast to 2030.
Key Trends and Analysis of the Global Extruded Aluminum Profiles Market:
- Among regions, Europe accounted for a significant market share in 2021. The automotive sector of the European market have played a vital role in the rise and expansion of the extruded aluminum profiles market. The lightweight and easy molding capabilities of the extruded aluminum have made it a material of choice in the automotive industry. With the introduction of electrical vehicles, the extruded aluminum profiles market has been further estimated to witness growth in the coming years. According to Coherent Market Insights’ analysis, the number of plug-in electric cars in Iceland, Norway, and U.K. in 2019 was 145,898 and has increased to 193,316 in 2020.
Key Takeaways of the Global Extruded Aluminum Profiles Market:
- According to Coherent Market Insights in 2021, among product type, shapes segment held the largest revenue share of 78.7% in the global extruded aluminum profiles market in There has been an increasing demand for various shapes such as open seam squares, structural angles, various beams, and others that have contributed to the rising demand for extruded aluminum profiles market across the globe. The easy molding ability of the extruded aluminum helps in the formation of various shapes which has further favored its market across the globe.
- Key players operating in the extruded aluminum profiles market are focusing on various strategies such as mergers & acquisitions in order to strengthen their market presence and expand their product portfolio. For instance, in January 2021, Constellium, a manufacturer of extruded products, aluminium rolled products, and structural parts fabricated of a large variety of advanced alloys, and Groupe Renault, a multinational automobile manufacturer in French, entered into partnership for research and development in project for development of sustainable automotive aluminum solutions
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the extruded aluminum profiles market are key strategies adopted by players in the global extruded aluminum profiles market. For instance, in February 2022, Novelis Inc., a leading producer of flat-rolled aluminum products a launched a research and development laboratory for aluminium manufacturing in Sierre, Switzerland.
