Aluminum extrusion is widely used in building and construction sector for window frames, door frames and load-bearing structures owing to characteristics such as corrosion resistance, high strength and longevity. The growing construction sector for both residential and commercial buildings is estimated to fuel the demand for aluminum extrusion and associated products. This rising construction activity is being driven by the rapid rate of urbanization, increasing population and changing lifestyles.
Market key trends:
The increasing demand from the building and construction industry is one of the key trends accelerating the growth of the aluminum extrusion market. Rapid urbanization and rising population have boosted construction activities around the world. According to the United Nations, by 2050, nearly 68% of the world population will be living in urban areas from current 55%. This surge in urban population has created demand for new residential and commercial infrastructure like schools, hospitals, shopping malls, offices etc. Aluminum alloy is widely used in this industry for window frames, door frames, roofing, cladding, structures and other components owing to its lightweight, durability, corrosion resistance and recyclability properties. The continued growth of the global construction sector in the coming years will drive the consumption of aluminum extrusion products thereby influencing the market growth during the forecast period.
Segment Analysis
The global aluminum extrusion market is dominated by the construction segment. This segment accounts for over 50% share of the overall market as aluminum extrusions are highly used in window frames, door frames, architectural panels & sheets etc. in commercial as well as residential construction projects across the globe. The construction industry has seen steady growth especially in developing countries of Asia pacific and Latin America which has fueled the demand for aluminum extrusions for constructions.
Key Takeaways
The Global Aluminum Extrusion Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Aluminum Extrusion Market is estimated to be valued at US$ 110 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
Regional analysis related content comprises- The Asia Pacific region currently dominates the global Aluminum Extrusion market with over 35% share. The growth in this region can be attributed to rising construction activities and automotive production in major economies like China and India.
Key players related content comprises- Key players operating in the Aluminum Extrusion market are Emirates Global Aluminium PJSC, Arconic Corporation, Hindalco Industries Ltd., Constellium SE, Gulf Extrusions Co. (LLC). Global aluminum extrusion major players are focusing on strategic partnerships and expanding their production capacities in high growth regions to cater to the rising demand.
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