The Global Aluminum Extrusion Market is expected to grow from USD 59.44 Bn in 2020 to USD 107.34 Bn by 2027, at a CAGR of 8.2%.
The global aluminum extrusion market is driven by the increasing demand for extruded aluminium from the (BIPV) sector. In the BIPV Sector structured aluminum frame is used for mounting PV modules with adhesives. Silicon bead is inserted in between adjacent panels as a water seal. The demand for aluminum extrusion in this BIPV sector is expected to drive the market growth throughout the forecast period. For instance, at the end of 2019, the globally PV installed capacity reached 623.2 GW of cumulative PV installations. Additionally, the rising demand for clean energy is poised to adopt the building integrated photovoltaics in commercial, industrial, & residential buildings. For instance, In 2019, a solar PV system integrated into a building was installed at a data centre in Mumbai, India. This project had a capacity of approximately 1 MW and used custom fabricated Aluminum rails as the module mounting system, and it was completed by U-Solar Clean Energy Solutions Pvt. Ltd.
Based on product type, the market has been segmented into anodized, powder coated, and mill finished. Mill finished segment is anticipated to hold the largest market share during the forecast period owing to excellent finishing properties, such as, superior corrosion resistance, and weldability are poised to support the market growth in the near future. Moreover, these aluminum extrusions are used in home appliances, building items, bumpers, food processing equipment, hospital and medical equipment, kitchen equipment, postal boxes culinary utensils, electronic chassis, electronic panels, fan blades, and others. Furthermore, the use of aluminum in furniture is expected to drive the market growth. Outdoor aluminum, and its corrosion resistant characteristics are expected to increase the demand for aluminum extrusions. Moreover, aluminum seems to be a good material for furniture, due to its flexibility in production and high strength to weight ratio.
Global Aluminum Extrusion Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geography, Asia-Pacific is expected to dominate the aluminum extrusion market during the forecast period owing to the growing population rapid urbanization, and their increasing demand for electronic home appliances. For instance, the global consumption of household appliances was estimated to be USD 580 billion in 2020, Additionally, the growing demand for electric vehicles is anticipated to drive the demand for aluminum extrusion. Aluminum battery housing is expected to create huge demand for aluminum extrusion in this region. For instance, Alibaba.com offers 31,356 box aluminum battery products which can be utilized in battery housing of EVs
Moreover, North America is expected to have a significant market share in the aluminum extrusion market during the forecast period owing to the increasing demand for aluminum extrusion from the electric vehicle segment & construction is expected to bolster the market growth. Aluminum is a critical component in military applications ranging from vehicle and naval vessel armour plating to aircraft and other aerospace applications. For instance, In November 2020, demand for Aluminum semi-fabricated (mill) products in the United States and Canada totalled an estimated 1,491 million pounds. (2055 USD Million)
The Global Aluminum Extrusion Industry Segmentation:
Global Aluminum Extrusion Market by Extrusion Profile Industry Outlook (Revenue, USD Million, 2021-2027)
Global Aluminum Extrusion Market by Product Type Industry Outlook (Revenue, USD Million, 2021-2027)
Global Aluminum Extrusion Market by Application Industry Outlook (Revenue, USD Million, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the aluminum extrusion market are: