Aluminum-extruded Products Market to Exceed 47.61 Billion USD by 2021

From: MarketsandMarkets
Published: Wed Aug 29 2018

The report "Aluminum-extruded Products Market by Product Type (Mill-finished, Powder-coated, and Anodized), End-use Industry (Construction, Automotive, Electrical & Electronics, Mass Transport, and Machinery & Equipment), Alloy Type, and Region - Global Forecast to 2021", The market for aluminum-extruded products is projected to grow from USD 34.48 Billion in 2016 to USD 47.61 Billion by 2021, at an estimated CAGR of 6.67%.

Browse 128 market data tables and 47 figures spread through 172 pages and in-depth TOC on "Aluminum-extruded Products Market by Product Type (Mill-finished, Powder-coated, and Anodized), End-use Industry (Construction, Automotive, Electrical & Electronics, Mass Transport, and Machinery & Equipment), Alloy Type, and Region - Global Forecast to 2021"

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The market for aluminum-extruded products is growing due to increasing demand in end-use industries such as construction, automotive, and aerospace & defense and growing demand for light-weight but durable products.

Mill-finished aluminum-extruded products to gain maximum traction during the forecast period.

The mill-finished products segment accounted for the largest market share in 2015; this trend is projected through the forecast period. The mill-finished aluminum-extruded products are highly preferred in the construction and automotive industries. These products are preferred because of their high strength and cost effectiveness. Additionally, mill-finished aluminum-extruded products deliver excellent performance in extreme conditions such as high and low temperatures and humidity.

The automotive industry is projected to be the most rapidly growing end use application for these products during the forecast period.

The aluminum-extruded products market is segmented on the basis of end-use industry into construction, automotive, electrical & electronics, mass transport, machinery & equipment, and others (which include energy, telecom, and consumer durables). In 2015, the construction segment accounted for the largest share of all end-use industries in 2015, in terms of both value and volume. However, the automotive segment is projected to grow at the highest CAGR during the forecast period. The increase in demand from the automotive industry, rise in urbanization & industrialization in emerging countries, growth in concerns of greenhouse gas emissions, emphasis on the light-weight cars, and governments’ initiatives to encourage FDIs are the main drivers for the aluminum-extruded products market.

Asia-Pacific is to play a key role in the market for aluminum-extruded products.

Low labor costs, rise in industrialization, large scope for FDI, emerging economic conditions, , and an excellent hold on industries such as construction, automotive, mass transport, and aerospace have played a crucial role in the growth of the market for aluminum-extruded products in the Asia-Pacific region.

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Aluminum-extruded products are light-weight but perform efficiently under extreme conditions such as heat, humidity, abrasion, and vibrations. However, the lack of awareness regarding aluminum-extruded products poses as a potential restraint in the aluminum-extruded products market. Hence, many constructions do not consider the lucrativeness of using aluminum-extruded products, which includes reduction of heat flow, energy efficiency, and cost-effectiveness.

Strategies such as mergers & acquisitions and agreements & expansions were largely adopted by most of the players in this market. Companies such as United Company Rusal (Russia), Alcoa Inc. (U.S.), Aluminum Corporation of China Limited (China), Rio Tinto Plc (U.K.), BHP Billiton Ltd. (Australia), Norsk Hydro ASA (Norway), Centaury Aluminum Corporation (U.S.), China Hongquiao Group Limited (China), Aluminum Bahrain B.S.C (Bahrain), and Hindalco Industries Limited (India) have adopted this strategy. Along with the same, these players have a strong distribution network and influencing presence in developed as well as developing economies.

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