Aluminum Alloy Extrusion Profile Market By Type (Forward Extrusion, Backward Extrusion, Composite Extrusion, and Others), By Application (Automotive, Construction, Manufacturing, and Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
The global aluminum alloy extrusion profile market was valued at USD 16.23 Billion in 2022 and is projected to reach USD 24.75 Billion by 2031 , expanding at a CAGR of 4.8% during the forecast period (2023-2031). Aluminum alloy is a chemical composition in which elements such as zinc, manganese, magnesium, copper, silicon, and iron are added to pure aluminum in order to enhance its strength and other properties. Aluminum extrusion is an aluminum alloy transformation process which is used in a variety of applications for having defined the cross-sectional profile. The method of aluminum extrusion releases large amounts of heat; therefore, temperatures monitoring of aluminum alloy extrusion is essential to ensure properties such as tensile strength are met to make an effective component.
Market Dynamics
The market is driven by factors such as increasing construction of green buildings, rising use of aluminum as the replacement for steel, rapid urbanization and industrialization boosts market growth, and growing use of sustainable and recyclable metal. However, high costs of aluminum alloy extrusion, low production efficiency of conventional extrusion method, and rising energy cost and environmental pollution are key restraints of this market. Growing usage of aluminum alloy extruded profile in the automotive industry and rising use of aluminum alloy extrusion profile in solar panels are expected to boost the market in the future.
Segmental Outlook
In terms of types, the aluminum extrusion profile market is segmented into forward extrusion, backward extrusion, and composite extrusion. Forward extrusion is projected to account for a 46.1% of the market share in 2019, as it has a simplistic design and it allows more flexibility in the manufacturing of profiles. The use of forwarding extrusion is increasing in the industries because the total length of the extrudate is generally limited by the size of metal billet due to which the process of forward extrusion has high productivity.
Based on applications, the aluminum alloy extrusion profile market is segmented into construction, automotive, manufacturing, other. The construction segment holds a major share of the market and automotive segment is estimated to expand at a significant CAGR of 5.3% during the forecast period. Automobile manufacturers are using aluminum alloy extrusion in an effective way to slim down electric vehicles and to lightened their combustion-engine lineup. Automotive company are using high-strength aluminum alloy to deliver light-weighting vehicle as they are intended to continue to use the distinct capabilities of extruded profile to make the electric vehicles more energy-efficient without sacrificing its performance.
Market Trend
Rising urbanization and growing demand for pre-engineered buildings are fueling the aluminum alloy extruded profiles market. These profiles are used in the roofing of pre-engineered buildings. Pre-engineered buildings are prefabricated factory-built steel structure engineered that are transported to the construction site for assembly. Rising construction of warehouses due to the growing online retail industry has increased the demand for pre-engineered buildings. The growth of industries such as pharma, retail, automotive, logistics, and fast-moving consumer goods is boosting the demand for pre-engineered buildings. This, in turn, is projected to drive the demand for aluminum alloy extruded profiles.
By Type
Definition
Forward Extrusion: Forward extrusion is also called direct extrusion or in-line compounding, it is mostly used in the production of semi-finished products such as profiles, plates, films, and tubes. This type of extrusion occurs when the direction of the flow of metal is the same as the movement of the ram. Direct extrusion is one of the most common processes that is used in aluminum alloy extrusion profiles among all the extrusion processes. In this process, a metal billet (work-piece) is pressed in the same direction as the die orifice and the pressure is applied on the billet. The main benefit of this process is its high efficiency and total time duration of extruders, as they are usually limited by the thickness of the metal billet. One of the major drawbacks of the forward extrusion is that it requires a high amount of force to extrude billet. The force which is used in forward extraction is very high compared to the indirect extrusion due to which high frictional forces are developed by the movement of billet across the entire length of containers.
By Application
Automotive Segment: The automotive segment is anticipated to grow at a rapid pace during the forecast period due to the increasing demand for automobiles and the need for electronic vehicles. Using aluminum extrusions allows automobile manufacturers to use different profile geometries and aluminum alloys to maximize light-weighting and to manage specific applications in the vital aspect of energy absorption and crash-management requirements. Moreover, aluminum alloy extrusions have a distinct ability of cost-effectiveness which is helping automobile makers to meet the stringent 2025 fuel economy and emissions targets as compared to other materials. Aluminum alloy extrusions also offer solutions that increase vehicle safety as verified by numerous vehicles in production. Hence, manufacturers are using aluminum alloy extrusions as they provide high-yield strength, excellent crash performance, and reduced weight. These factors are fueling the growth of the segment.
Regional Outlook
On the basis of regions, the global aluminum alloy extrusion profile market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is expected to hold 41.8% of market share due to an increase in the construction sector in this region. Construction of green buildings is increasing across the globe, as these buildings are environment-friendly and energy-efficient. This, in turn, is boosting the market growth, as aluminum alloy extruded profile is used in the construction of green buildings. The market in Europe is anticipated to grow during the forecast period owing to the rising industrial consumption of extruded aluminum and the growth in the automobile industry. Additionally, increasing demand for products in the battery casing and structural component of electrical vehicles is expected to fuel the market.
Key Benefits for Industry Participants & Stakeholders
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In-depth Analysis of the Global Aluminum Alloy Extrusion Profile Market
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Historical, Current and Projected Market Size in terms of Value
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Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
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Industry Drivers, Restraints and Opportunities Covered in the Study
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Recent Industry Trends and Developments
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Competitive Landscape & Strategies of Key Players
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Neutral Perspective on Global Aluminum Alloy Extrusion Profile Market Performance
Video Summary for Aluminum Alloy Extrusion Profile Market :
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Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Aluminum Alloy Extrusion Profile Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Aluminum Alloy Extrusion Profile Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.2.4 Market Trends
4.3 Aluminum Alloy Extrusion Profile Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Global Aluminum Alloy Extrusion Profile Market Size & Forecast, 2017-2027
4.4.1 Aluminum Alloy Extrusion Profile Market Size and Y-o-Y Growth
4.4.2 Aluminum Alloy Extrusion Profile Market Absolute $ Opportunity
Chapter 5 Global Aluminum Alloy Extrusion Profile Market Analysis and Forecast By Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Type
5.1.2 Basis Point Share (BPS) Analysis By Type
5.1.3 Absolute $ Opportunity Assessment By Type
5.2 Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Type
5.2.1 Forward Extrusion
5.2.2 Backward Extrusion
5.2.3 Composite Extrusion
5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Aluminum Alloy Extrusion Profile Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Application
6.2.1 Construction
6.2.2 Automotive
6.2.3 Manufacturing
6.2.4 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Aluminum Alloy Extrusion Profile Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Aluminum Alloy Extrusion Profile Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Impact Analysis
Chapter 9 North America Aluminum Alloy Extrusion Profile Analysis and Forecast
9.1 Introduction
9.2 North America Aluminum Alloy Extrusion Profile Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Type
9.6.1 Forward Extrusion
9.6.2 Backward Extrusion
9.6.3 Composite Extrusion
9.7 Basis Point Share (BPS) Analysis By Type
9.8 Absolute $ Opportunity Assessment By Type
9.9 Market Attractiveness Analysis By Type
9.10 North America Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Application
9.10.1 Construction
9.10.2 Automotive
9.10.3 Manufacturing
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis By Application
9.12 Absolute $ Opportunity Assessment By Application
9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Aluminum Alloy Extrusion Profile Analysis and Forecast
10.1 Introduction
10.2 Europe Aluminum Alloy Extrusion Profile Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Type
10.6.1 Forward Extrusion
10.6.2 Backward Extrusion
10.6.3 Composite Extrusion
10.7 Basis Point Share (BPS) Analysis By Type
10.8 Absolute $ Opportunity Assessment By Type
10.9 Market Attractiveness Analysis By Type
10.10 Europe Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Application
10.10.1 Construction
10.10.2 Automotive
10.10.3 Manufacturing
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Aluminum Alloy Extrusion Profile Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Aluminum Alloy Extrusion Profile Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Type
11.6.1 Forward Extrusion
11.6.2 Backward Extrusion
11.6.3 Composite Extrusion
11.7 Basis Point Share (BPS) Analysis By Type
11.8 Absolute $ Opportunity Assessment By Type
11.9 Market Attractiveness Analysis By Type
11.10 Asia Pacific Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Application
11.10.1 Construction
11.10.2 Automotive
11.10.3 Manufacturing
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Aluminum Alloy Extrusion Profile Analysis and Forecast
12.1 Introduction
12.2 Latin America Aluminum Alloy Extrusion Profile Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Type
12.6.1 Forward Extrusion
12.6.2 Backward Extrusion
12.6.3 Composite Extrusion
12.7 Basis Point Share (BPS) Analysis By Type
12.8 Absolute $ Opportunity Assessment By Type
12.9 Market Attractiveness Analysis By Type
12.10 Latin America Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Application
12.10.1 Construction
12.10.2 Automotive
12.10.3 Manufacturing
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Aluminum Alloy Extrusion Profile Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Aluminum Alloy Extrusion Profile Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Type
13.6.1 Forward Extrusion
13.6.2 Backward Extrusion
13.6.3 Composite Extrusion
13.7 Basis Point Share (BPS) Analysis By Type
13.8 Absolute $ Opportunity Assessment By Type
13.9 Market Attractiveness Analysis By Type
13.10 Middle East & Africa (MEA) Aluminum Alloy Extrusion Profile Market Size & Volume Forecast By Application
13.10.1 Construction
13.10.2 Automotive
13.10.3 Manufacturing
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
14.1 Aluminum Alloy Extrusion Profile Market: Competitive Dashboard
14.2 Global Aluminum Alloy Extrusion Profile Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Arconic
14.3.2 Bonnell Aluminum
14.3.3 China Zhongwang Holdings Limited
14.3.4 Constellium
14.3.5 Hulamin
14.3.6 Hydro Extrusions
14.3.7 Jindal Aluminium
14.3.8 Kaiser Aluminum
14.3.9 Norinco International
14.3.10 Sankyo Tateyama, Inc.