Aluminum Extrusion Market is Rising at a CAGR of 7% to Cross US$ 175 Billion by 2032: Fact.MR Report

Rockville, Aug. 10, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, the Aluminum Extrusion Market is projected to achieve a market value of US $89 billion in 2022 in terms of its global sales. By the end of 2021, the global market for aluminium extrusion had sales that exceeded US$ 85 billion. Research estimates that throughout the aforementioned historical period, the industry expanded at a CAGR of 6.2% by 2032.

Sales of aluminium extrusion are anticipated to increase as demand for EVs and the automotive & transportation sectors both rise. Additionally, there is growing pressure on automakers to comply with laws and regulations governing how cars affect the environment.

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Key Driving Forces Accelerating the Market Growth

Moreover, the increasing use of aluminum extrusions in consumer electronics, such as smartphones, tablets, laptops, and LED displays, has contributed to market growth.

Vital I ndicators S haping the F uture of the I ndustry

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Challenges H indering the M arket G rowth

Aluminum prices can be volatile due to factors like global supply-demand imbalances, trade tensions, and geopolitical issues, making it challenging for manufacturers to stabilize costs and maintain competitive pricing. Moreover, the market faces competition from other materials like steel, composites, and plastics, which may offer different characteristics and cost advantages, leading to market share challenges. Moreover, aluminum extrusion manufacturing requires a significant amount of energy, and fluctuations in energy prices can impact production costs, affecting the overall market competitiveness.

How C ompetition I nfluences the M arket

Intense competition among aluminum extrusion manufacturers can lead to price wars, where companies lower their prices to gain a competitive edge. Price competition can be beneficial for consumers as it drives down product costs, but it can also put pressure on profit margins for manufacturers.

Key Companies Profiled

Aluminum Shapes Gaining Momentum in Automotive and Tran sportation Sales Aluminum's inherent malleability renders it highly conducive to shape production through the extrusion method. This involves the heating of aluminum billets, followed by their forceful compression using a ram or hydraulic press against sturdy steel dies. This process yields aluminum shapes that mirror the contours of the dies.

In the automotive and transportation sector, aluminum extrusions find extensive application in an array of components including chassis, roof rails, panels, transmission housings, and engine blocks for various vehicles such as trucks, cars, boats, and railways. The growing emphasis on reducing vehicle weight has surged the demand for lightweight structural elements. Consequently, shapes are poised to capture a substantial market share, accounting for approximately 80% of the total.

Key Segments Covered in the Aluminium Extrusion Market Report

Checko ut M ore R elated S tudies P ublished by Fact.MR Research:

Aluminum Castings Market : The global aluminum castings market stands at a valuation of US$ 93.5 billion in 2023 and is forecasted to climb to US$ 171 billion by the end of 2033. This Fact.MR research report predicts global demand for aluminum castings to increase at a healthy CAGR of 6.2% over the next ten years.

Aluminum Sheet Market : The demand for aluminum sheet market has been growing steadily over the years due to distinct factors such as the growth of the automotive sector and propelled use for packaging.

Aluminum Powder Market : The global aluminum powder market is estimated to be valued at US$ 533.0 million in 2023 and it is anticipated to grow at a CAGR of 6.4% to reach a valuation of US$ 992.3 million by the end of 2033.

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