Aluminum Extrusion Market to Garner $118.7 Billion, Globally, By 2027 at 5.4% CAGR, Says Allied Market Research

Increase in demand for lightweight and durable extruded products and high corrosion resistance and durability fuel the global aluminum extrusion market growth

PORTLAND, Ore., May 18, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Aluminum Extrusion Market by Product Type (Mill-finished, Anodized, and Powder Coated), and End-User (Building and Construction, Electrical and Electronics, Automotive & Transportation, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global aluminum extrusion industry garnered $77.8 billion in 2019, and is expected to generate $118.7 billion by 2027, manifesting a CAGR of 5.4% from 2020 to 2027.

Prime determinants of growth

Increase in demand for lightweight and durable extruded products and high corrosion resistance and durability fuel the global aluminum extrusion market growth. However, high capital cost restrains the growth. Contrarily, rise in demand for customized extrusion create new opportunities in the next few years.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/9366

Covid-19 Scenario

• The aluminum extrusion market witnessed a temporary downfall, owing to decline in demand from the automotive and construction sectors.
• Furthermore, extended lockdown across the globe negatively affected the global supply chain of alumina and bauxite mining. Regulations on imports and exports further delayed the lead time for replenishment of raw materials, thereby affecting the upstream process.
• Presently, the second wave of Covid-19 is wreaking havoc in most of the nations, and government bodies are implementing strict regulations and lockdown again. This may lead to dwindled growth of the market.

The mill-finished segment to maintain its lead position during the forecast period

By product type, the mill-finished segment accounted for the largest share in 2019, contributing to nearly three-fifths of the global aluminum extrusion market, and is estimated to maintain its lead position during the forecast period. This is due to rise in demand for low-cost extruded aluminum products for electrical and automotive applications such as cylinder heads, blocks, and covers. However, the anodized segment is expected to witness the largest CAGR of 6.7% from 2020 to 2027, owing to its high durability and clean appearance.

Get Detailed COVID-19 Impact Analysis on the Aluminum Extrusion Market @ https://www.alliedmarketresearch.com/request-for-customization/9366?reqfor=covid

The industrial segment to grow at the fastest CAGR

By end user, the industrial segment is estimated to portray the fastest CAGR of 8.5% from 2020 to 2027, owing to rise in demand of lightweight aluminum profiles in various industrial applications. However, the building and construction segment held the highest market share in 2019, contributing to around three-fifths of the global aluminum extrusion market, and is estimated to maintain its dominance in terms of revenue during the forecast period. This is attributed to large number of smart city projects and rapid urbanization.

Asia-Pacific to maintain its leadership status by 2027, North America to grow at a significant pace

By region, Asia-pacific contributed to the highest market share in 2019, accounting for more than two-third of the global aluminum extrusion market, and is projected to maintain its leadership status by 2027. Furthermore, the region is projected to portray the highest CAGR of 5.9% from 2020 to 2027. This is attributed to rise in demand from automotive and transport sectors. On the other hand, North America is expected to grow at the CAGR of 3.4% by 2027.

Leading Market Players

• Hindalco Industries Limited
• Aluminium Products Company (ALUPCO)
• Arconic Corporation
• Bahrain Aluminium Extrusion Co. (BALEXCO)
• China Zhongwang
• Constellium N. V.
• Gulf Extrusion Co. LLC

Interested in Procuring This Report? Visit Here:
https://www.alliedmarketresearch.com/aluminum-extrusion-market/purchase-options

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

• Aluminum Market: Global Opportunity Analysis and Industry Forecast, 2019-2026
• High Purity Alumina Market: Global Opportunity Analysis and Industry Forecast, 2020-2026
• Honeycomb Sandwich Material Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
• Polyethylene Films Market: Global Opportunity Analysis and Industry Forecast, 2017-2023

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg