Aluminum extrusion: Key market research findings
- Green initiatives drive the market growth
- Increasing use of aluminum extrusion in crash management systems
- Key vendors—Alcoa, Constellium, Gulf Extrusions, Hindalco, and Sapa
Technavio’s market research analysts expect the global aluminum extrusion market to grow at a CAGR of almost 7% between 2016 and 2020. The increased adoption of green initiatives is the primary driving force behind growth in the market. Several governments across the globe are encouraging the use of aluminum in an attempt to bring down the pollution levels. As a result, there has been a substantial rise in the number of companies shifting towards aluminum instead of steel for manufacturing vehicles. Besides, vendors are increasingly making use of aluminum extrusions in buildings and construction activities to achieve the green status. In 2015, China accounted for more than 60% of the market share to dominate the global aluminum extrusion market. Growing demand from the industrial sector because of increased production of automobiles, emission control equipment, power generation and distribution equipment, and air conditioning units is likely to boost growth in the aluminum extrusion market in China during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the aluminum extrusion segments based on end-user.
“The use of aluminum in crash management systems is an upcoming trend in the market. A crash management system is a structural automobile model that consists of bumpers and other attachments connected to a longitudinal beam of the car to minimize loss during accidents. Extruded aluminum is ideal for crash management system as it stays intact even during high impact collisions and has the potential to absorb crash energy. Moreover, aluminum-based crash management systems are lightweight and cost-effective,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
The building and construction sector occupied almost 62% of the market space during 2015 to dominate the global aluminum extrusion market. The sustainable and energy-efficient, recyclable nature of aluminum as a construction material is the fundamental driver for growth in this segment. The APAC region drives the market with China being the major revenue contributor. The increasing use of aluminum in various building and construction applications such as doors, windows, panels, windows frames, ladders, and bridges is likely to propel growth in the global aluminum extrusion market in the building and construction sector by 2020.
The key vendors in the global aluminum extrusion market include Alcoa, Constellium, Gulf Extrusions, Hindalco, and Sapa. The market is highly competitive and is dominated by the leading players who use expansion strategies to increase their market share. Technavio expects the market competition will intensify during the forecast period with an increase in product extensions and innovative solutions. The firm position of the major vendors will restrict the entry of new players in the market.
A more detailed analysis is available in the Technavio report, Global Aluminum Extrusion Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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