Aluminum Extruded Products Market: Overview
- Extrusion is a process used to produce fixed cross-sectional profile in bulk quantities. Extrusion enables formation of a workpiece with highly complex cross-sections with good surface finish.
- Aluminum is a metal widely used for extrusion, as it is sustainable, durable, flexible, and strong. Aluminum alloys are pre-heated at a high temperature and then, they are further extruded with the help of a die.
- Aluminum extruded products are recyclable in nature and they emit a minimal amount of harmful gases while processing. Also, these products are light in weight and they can withstand extreme conditions such as abrasion, vibrations, heat, and humidity. These conditions result in high energy efficiency, cost effectiveness, and reduction in heat flow.
- The global aluminum extruded products market is likely to expand significantly, owing to increasing investments and growth of end-user industries. Increasing awareness about favorable properties and applications of aluminum extruded products is likely to drive the global market in the next few years.
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Key Drivers of Global Aluminum Extruded Products Market
- Rise in the adoption of aluminum extruded products in the automobile sector is likely to drive the global aluminum extruded products market during the forecast period. Aluminum extruded products are replacing steel products in transportation and automobile industries. Use of aluminum products makes the vehicle light in weight, which results in risen fuel efficiency and less greenhouse gas (GHG) emissions.
- Also, use of aluminum extruded products in the building & construction sector is anticipated to increase in applications such as doors, panels, frames, windows, and ladders. This factor is likely to drive the global aluminum extruded products market in the near future.
- On April 1, 2019, UACJ Corporation announced to have established the automotive parts business division in order to further strengthen its business of aluminum materials for vehicles. By establishing this business division, the company would be facilitating consistency from planning and design stages to manufacturing, sales, and quality assurance stages.
Asia Pacific to Hold a Major Share of Global Aluminum Extruded Products Market
- Based on region, the global aluminum extruded products market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global aluminum extruded products market in 2018. The region is projected to be a highly attractive market for aluminum extruded products during the forecast period. The trend is anticipated to continue during the forecast period, as the region is a major producer and consumer of aluminum.
- Also, the region has a well-established automobile industry, which is a major consumer of aluminum extruded products. This is especially evident in countries such as Japan, China, and India.
- North America is anticipated to hold a major share of the global aluminum extruded products market during the forecast period. This is attributable to presence of a well-established automobile industry and rising investments in industrial automation and infrastructure, which are major end-users of aluminum extruded products.
- Europe is likely to hold a moderate share of the global aluminum extruded products market from 2019 to 2027. The market in the region is likely to expand at a significant pace during the forecast period.
- The markets in Latin America and Middle East & Africa are projected to expand at a sluggish pace during the forecast period
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Key Players Operating in Global Aluminum Extruded Products Market
Leading companies operating in the global aluminum extruded products market are:
- Alcoa Corporation
- Aluminum Corporation of China Limited
- Rio Tinto Limited
- Norsk Hydro ASA
- UACJ Corporation
- Century Aluminum Company
- Indo Alusys Industries Limited
- Century Extrusions Limited
- CHINA ZHONGWANG HOLDINGS LIMITED
- Aditya Birla Management Corporation Pvt. Ltd.
- Norsk Hydro ASA
Global Aluminum Extruded Products Market: Research Scope
Global Aluminum Extruded Products Market, by Product Type
Global Aluminum Extruded Products Market, by End-use Industry
- Machinery & Equipment
- Electrical & Electronics
- Mass Transport
Global Aluminum Extruded Products Market, by Type
- 1000-series Aluminum Alloy
- 2000-series Aluminum Alloy
- 3000-series Aluminum Alloy
- 5000-series Aluminum Alloy
- 6000-series Aluminum Alloy
- 7000-series Aluminum Alloy
Global Aluminum Extruded Products Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.