The Aluminum Extrusion Market is expected to surpass US$ 195.48 billion by 2033, North America Dominated the Aluminum Extrusion Industry | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Increasing Popularity of Automation and lightweight Electric Vehicles is likely to Open up Lucrative Aluminum Extrusion Market Potential. FMI Records a CAGR of 4.6% from 2023 to 2033. China, the leading market for aluminum extrusions, accounts for 59.5% share of the global market value.
DUBAI, United Arab Emirates, March 06, 2023 (GLOBE NEWSWIRE) -- By 2033, the aluminium extrusion market is anticipated to have grown from US$ 126.67 billion to US$ 195.48 billion. Aluminum scrap can be completely recycled into new aluminum extrusions. The development of aluminum is being fuelled by the use of green activities
Aluminum Extrusions are becoming Popular due to their Excellent Performance
Aluminum is a light metal that weighs around one-third that of steel or copper. Aluminum extrusions are suitable for the construction industry due to their high strength-to-weight ratio. Aluminium is nearly 43 times more durable than wood. It may even outlast some steel grades, with the proper treatment or alloying. The highest tensile strength of aluminum material can reach 90,000. As a result, the manufacturing industry is attempting to transition from steel to aluminum.
Because oil-based plastics harm the environment, the global manufacturing industry is gradually transitioning to a non-plastic world. Moreover, aluminum, the most prevalent metal in the world's crust, is also one of the most well-known sustainable resources. Although steel is the most often utilized alloy worldwide, aluminum's market has a high potential.
Scrap metal can be completely recycled into brand-new aluminum extrusions. The increasingly prevalent use of green initiatives is encouraging aluminum growth. These applications are only possible because of aluminum's favorable properties, which include its unique combination of strength and durability, conductivity, non-magnetic properties, and ability to be recycled repeatedly without losing integrity. Due to these characteristics, aluminum extrusion is a viable and versatile solution for an increasing range of industrial requirements.
Hindalco Industries, Jindal Aluminium Limited, China Zhongwang Holdings Limited, Constellium N.V., Hydro Extrusions, Arconic Inc., Zahit Aluminum, Bonnell Aluminum, SKM Co., Ltd., Keymark Corporation, Kaiser Aluminum Corp., Hulamin Ltd., WISPECO Aluminium and others are the top market players in the aluminum extrusion market
Key Points from theAluminum Extrusion Market:
The surge in demand for lightweight, long-lasting products is projected to drive the market.
The aluminum extrusion market is expected to hold a CAGR of 4.6% during the forecast period 2023 to 2033.
North America dominated the aluminum extrusion market.
Key Developments in theAluminium Extrusion Market:
December 2021 - Aluminum Products Corporation signed a pact to become a member of the worldwide copper alliance.
April 2021 - Arconic Corporation purchased the Group annuity contract, reducing the gross pension obligation by US$ 1 billion.
December 2020 - Hindalco announced the inauguration of a new production facility in Silvassa to strengthen the company's market position in India's western and southern regions.
February 2022 - Novelis opened a net zero lab in conjunction with HES-SO Valais-Wallis to investigate carbon-neutral solutions for aluminum manufacturing. As a result, the corporation could engage in decarbonization research, to become carbon neutral by 2050.
August 2022 - Norsk Hydro ASA (Hydro) announced a NOK 300 million investment in a new automobile extrusion press at its Tonder, Denmark, company. The new 12-inch, 6000-tonne extrusion press serves the European automotive and electric vehicle markets, increasing manufacturing capacity and enabling larger cross-section extrusions.
March 2022 - Etem Gestamp indicated that it plans to invest 60 million euros to expand its operations in Bulgaria for electric vehicle components. Etem Group and Gestamp Group decided to form a joint venture focused on the extrusion and processing of aluminum profiles for the automotive industry.
September 2021 - Constellium SE announced that it is going to supply aluminum structural components for the recently unveiled all-electric Ford F-150 Lightning, which might go on sale in the spring of 2022. The F-150 Lightning, like all F-Series pickup trucks, is constructed primarily of high-strength aluminum alloys. Constellium supplied the windscreen header, rocker, radiator support, and other structural components for the F-150 Lightning.
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