Market Overview
In its research report,
Market Research Future (MRFR), emphasizes that the Global Aluminum-Extruded
Products Market 2020 is expected to grow
significantly, securing a substantial market valuation of USD 68.5 Billion by
2025, and a healthy 6.5% CAGR over the review period.
Competitive Analysis
The major market players
operating in the global market as acknowledged by MRFR are China Zhongwang
Holdings Limited (China), Hydro Extruded Solutions (Norway), Arconic (US),
Hindalco Industries Limited (India), Century Extrusions Limited (India),
Constellium (The Netherlands), QALEX (Qatar), Bonnell Aluminium (US), Gulf
Extrusions Co. LLC (UAE), and TALCO (India), among others.
Drivers and
Restraints
Growing demand in the
automotive industry for extruded aluminum products is expected to fuel the
global market over the forecast period. Modern devices such as sensors and
batteries in cars also increased the vehicles' total weight. The main problems
are environmental issues such as global warming due to increased CO2 emissions
and fossil-fuel oil depletion. Within the Asia-Pacific developing countries,
the growing demand for aluminum extruded products in the construction industry
is expected to fuel global market growth during the forecast period. Factors
such as rapidly rising construction and transportation sectors, increasing
spending in infrastructure development, and increasing disposable income are
also likely to support the growth of the global economy in the coming years. In
the buidling of bridge railings and coverings, road signs and light poles, and
pedestrian bridges, the use of aluminum extruded products is growing due, among
other things, to its ease of manufacture, low maintenance costs, and
lightweight.
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Segmental Analysis
Based on product
type, the mill-finished segment accounted for the largest market share of 40%
in 2017 and is estimated to secure the highest CAGR of 5.5% over the review
period. This is largely accredited to the high strength and cost-effectiveness
of the mill-finished product. It finds extensive applications in the automotive
and construction industries. In addition, they display exceptional performance
in high and low temperatures, and humidity.
On the basis of
alloy type, the 6000 series aluminum alloys sector led the global Aluminum-Extruded
Products Market with a market share of
42% in 2017 and was valued at USD 17.01 billion. This is accredited
to its high strength, versatility, and superior corrosion resistance.
Based on the
end-use, the construction segment accounted for the major market share of 44%
in 2017 and is assessed to exhibit a CAGR of 6.63% in the following years.
This is accredited to the structural integrity and soundproof properties, and
low cost of the product. Aluminum extruded products are extensively used in new
construction projects, airports, and residential and commercial buildings.
Regional Analysis
The geographical
overview of the global Aluminum-Extruded
Products Market has been conducted in four major regions,
comprising North America, the Asia Pacific, Europe, and the rest of the world.
The Asia-Pacific market led the global Aluminum-Extruded Products Market with the largest share of 63% in 2017 and is
estimated to record the highest CAGR of 7% by the end of 2025. This is due
to the development of the China, India, and Indonesia automotive and building
and construction industries. Increasing investments for infrastructural
development in developing countries in South-East Asia such as Indonesia,
Myanmar and Thailand are further expected to drive regional demand growth.
The European market
accounted for the second-largest 15 percent market share in 2017 and is
predicted to show a significant 5.5 percent CAGR during the evaluation period
due to the strict regulations on greenhouse gas emissions. In addition,
increased demand for the commodity in the structural components and battery
enclosures in electric vehicles is anticipated to fuel the regional market
growth.
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Details @ https://www.marketresearchfuture.com/reports/aluminum-extruded-products-market-3034
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