Aluminum Extrusion Market To Witness A Significant Growth Of USD 104.15 Billion By 2028

 San Francisco, 23 Dec 2021: The Report Aluminum Extrusion Market Size, Share & Trends Analysis Report By Product (Pipes & Tubes, Shapes), By Application (Electrical & Energy, Building & Construction), By Region (MEA, APAC), And Segment Forecasts, 2021 - 2028

The global aluminum extrusion market size is expected to reach USD 104.15 billion by 2028, expanding at a CAGR of 7.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing investments in infrastructure and residential construction is projected to drive the market growth over the forecast period. Emerging economies of Asia Pacific, Central & South America, and Middle East & Africa are witnessing increasing investments in the residential and infrastructure sector owing to the rapid urbanization, rising per capita income levels, and growing population.

For instance, in the economic budget of FY 2020-21, the Indian government announced around USD 1.41 trillion funding for infrastructure projects in the country. The Indian government is set to develop 6,500 projects under its National Infrastructure Pipeline (NIP) over the next five years. Besides the construction industry, growth in the automotive & transportation sector is also expected to play a crucial role in driving the market growth. Aluminum, being a lightweight material, helps in curbing emissions from automobiles. Also, due to various stringent government regulations regarding carbon emissions, automobile companies are preferring this material over steel for automotive manufacturing.

The Covid-19 pandemic has created disruptions in the value chain of the industry across various countries, such as China. However, the country is all set for a strong rebound in its economic activities, following the relaxation of economic and social controls since April 2020. Where the other major economies of the world reported a negative GDP for the second quarter (April-June) of 2020, China registered a GDP growth of 3.2%. The economic growth of the country has helped soften the impact of the pandemic for the remainder of 2020.

Access Research Report of Aluminum Extrusion Market @ https://www.grandviewresearch.com/industry-analysis/aluminum-extrusion-market

Aluminum Extrusion Market Report Highlights

• The shapes product segment generated the largest revenue share of 80% in 2020 and is estimated to retain the leading position over the forecast period
• The growth of this segment is attributed to the increasing demand for channels, tubing, and angles in various applications, such as construction, architectural and automotive components, computers, and domestic appliances
• In terms of revenue, the automotive & transportation application segment is expected to grow at a steady CAGR of 6.9% from 2021 to 2028
• Properties, such as flexibility, durability, and corrosion-resistance, enable usage of aluminum extrusion in automotive & transportation applications, thereby driving the segment growth
• Asia Pacific was the dominant regional market in 2020, in terms of revenue, and is expected to maintain its position growing at the fastest CAGR over the forecast period
• Stable Foreign Direct Investment (FDI) in the manufacturing sectors of China, India, South Korea, Indonesia, and Singapore is one of the key factors driving the APAC regional market
• The market is highly competitive in which most of the players are focusing on creating their differentiation factors. The establishment of an efficient sales channel is of key significance for the manufacturers in the market

List of Key Players of Aluminum Extrusion Market

• Hindalco Industries Ltd.
• Arconic Corp.
• Norsk Hydro ASA
• Constellium N.V.
• QALEX

Access Press Release of Aluminum Extrusion Market @ https://www.grandviewresearch.com/press-release/global-aluminum-extrusion-market