Aluminum Extrusion Market Is Expected To Reach $ 146.82 Billion By 2030


 San Francisco, 16 April 2024: The Report Aluminum Extrusion Market Size, Share & Trends Analysis Report By Product (Tubes & Pipes, Rods & Bars Shapes), By Application (Building & Construction, Electrical & Energy), By Region, And Segment Forecasts, 2024 - 2030

The global aluminum extrusion market size is anticipated to reach USD 146.82 billion by 2030, expanding at a CAGR of 8.2% from 2024 to 2030, according to a new report by Grand View Research, Inc.Growing infrastructure and residential construction activities, particularly in the booming Asia Pacific, Latin America, and MENA regions, are poised to be major growth drivers in the coming years. Rapid urbanization, rising disposable incomes, and population surge are fueling massive investments in infrastructure and construction sectors.

In the budget for 2023 - 2024, the Indian government allocated INR 16,000 crores (~USD 1931.5 million) to develop “sustainable cities of tomorrow”. Such initiatives are anticipated to transform multiple cities in India by improving their infrastructure and mobility and creating urban sustainability. There exists a substantial deficit in infrastructure investment on a global scale, prompting governments worldwide to actively address and reduce this gap. This concerted effort is anticipated to have a positive impact on this market through 2030.

The construction sector’s boom is not the only driver for market expansion. Aluminum's flexibility, strength, and rust resistance make it popular application in automotive industry, especially with the changing dynamics of automotive vehicles. The booming automotive & transportation application segment is expected to drive the demand for aluminum extrusion over the coming years.

Stringent environmental regulations, particularly around carbon emissions, are driving automakers to embrace aluminum over steel. Car manufacturers face a mounting pressure to comply with laws like those from the EPA, CARB, and NHTSA, pushing them to adopt lighter and more fuel-efficient materials. Aluminum extruded parts offer an enticing solution here by significantly reducing vehicle weight, thereby lowering emissions and meeting regulatory requirements. This, in turn, is expected to reduce weight and drive significant demand for aluminum extruded parts.

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

Aluminum Extrusion Market Report Highlights

  • Shapes dominated the product segment with more than 79.0% revenue share in 2023, owing to excellent malleability properties and rising demand for aluminum shapes in prominent end-use industries
  • In terms of product, the rods & bars segment is expected to register a significant CAGR over the forecast period
  • Buildings & construction application held the largest revenue share of over 60.0% in 2023. Aluminum extrusion products find a wide range of applications in the construction sector and are anticipated to witness significant demand growth over the forecast period, owing to infrastructural developments
  • Increased spending on R&D activities in the automotive industry by leading players has led to a substantial spike in demand for lightweight aluminum parts in electric vehicle segment
  • Asia Pacific dominated the market for aluminum extrusion in 2023, owing to factors such as growing construction & automotive industry in this region due to the presence of rapidly developing economies such as China, India, and other Southeast Asian countries
  • In November 2023, Norsk Hydro ASA announced an agreement with Watt Electric Vehicles (WEVC), an automotive start-up in the UK, to deliver low-carbon and recycled aluminum extrusion chassis for the latter’s upcoming commercial electric vehicle to be produced from the beginning of 2025

Aluminum Extrusion Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 91.38 billion

Revenue forecast in 2030

USD 146.82 billion

Growth rate

CAGR of 8.2% from 2024 to 2030

Base year for estimation

2023

Historical data

2018 - 2022

Forecast period

2024 - 2030

List of Key Players in the Aluminum Extrusion Market

  • Alupco
  • Arconic Corp.
  • Bahrain Aluminum Extrusion Company
  • Constellium N.V.
  • Gulf Extrusions Co. LLC
  • Hindalco Industries Ltd.
  • Kaiser Aluminum
  • Norsk Hydro ASA
  • QALEX

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

 

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