Aluminum Extrusion Market Size Worth 20 Million Tons by 2026
Acumen Research and Consulting, Recently Published Report On “Aluminum Extrusion Market Size, Share, Growth Opportunities, Trends and Forecast 2019 - 2026”.
LOS ANGELES, Dec. 18, 2019 (GLOBE NEWSWIRE) -- The global aluminum extrusion market is expected to reach the market volume of more than 20 million tons by 2026 and is anticipated to grow at a CAGR of more 3% in terms during the forecast period 2019 to 2026.
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Aluminum removal is the process by which an aluminum alloy bar is melted and shaped into a specific shape by moving the bar across the cross section. In terms of aluminum extrusion consumption, shapes have dominates the global aluminum extrusion market and is expected to show similar trend over the forecast period. Rods and pipes have accounted for a minimum market share since they are less sensitive to the overall economy. While cyclic influences are currently evident, structural change could lead to applications for transport equal to construction in the next five years.
Regional Insight
The use of extruded aluminum goods in India rises annually. To sustain the growth rate, the extrusion industry must produce quality products at competitive prices. In order to satisfy rising demand, China and the Gulf countries will only be glad to export aluminum products and components to India. Therefore, Indian Aluminum Industry, Primary as well as Recycling, is offering an excellent opportunity to dramatically expand capacity to meet growing domestic demands for high-quality aluminum extrusions. Also, the production of rail cars for the modernization of Indian railways, which is the priority list of the Government of India, is an important area for the downstream growth.
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North America is also showing huge interests in the aluminum extrusion market. Aluminum extrusion in various shapes has dominated the North America's extrusion market. However, there is not much demand for rods and pipes made of aluminum. However, optimistic aspects of aluminum are projected to uplift the demand of rods and pipes over the foreseeable future. The supply structure in North America is likely to be more concentrated and more industrial in comparison with past few years. Key players across North America comprise of SAPA, Kaiser, Bonnell, UMEX, Extrudex, Shapes, Western, Alcoa, and Sierra.
Key Takeaways
- India is likely to witness huge surge in the consumption of aluminum extrusion products over the foreseeable future. Growing construction and automation industry will maintain this growth over the forecast period.
- Aluminum consumption in India is projected to cross more than 6 million tons by the end of 2022
- Asia Pacific dominated the global aluminum extrusion market and is likely to show similar trend over the forecast period.
- Construction and automotive production are an important factor in the growth of aluminum extrusion markets worldwide.
- Roughly 14% of North America soft alloy presses belong to manufacturers those re vertically integrated.
Key Players
Key players present in this market include Hindalco, Sapa, Aluminium Products, Hulamin Extrusions, Tajik Aluminum, YKK Corporation, Zahit Aluminium, Al-Taiseer Aluminium Factory, Balexco, Alcoa, Constellium, Gulf Extrusions.
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