Portland, OR, March 10, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the India aluminum extrusion market generated $1.3 billion in 2019, and is expected to generate $2.5 billion by 2027, witnessing a CAGR of 8.3% from 2020 to 2027. The report offers a detailed analysis of changing market trends, top winning strategies, key segments, value chain, major investment pockets, and competitive landscape.
Increase in demand for lightweight products in construction activities and high corrosion resistance and durability drive the growth of the India aluminum extrusion market. However, high initial cost restrains the market growth. On the other hand, rise in demand for customized extrusion presents new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities of aluminum extrusion were stopped due to lockdown imposed by the government. Moreover, the supply chain is disrupted and issues such as lack of sufficient workforce occurred.
- Restrictions on cross-border import and export activities postponed the lead time for replenishing raw materials. This, in turn, negatively affected the upstream process.
- Though there has been reduced demand during the pandemic, increase in prominence of intelligent mining and digital transformation would raise the demand slowly.
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The report offers detailed segmentation of the India aluminum extrusion market based on product type and end user.
Based on product type, the mill-finished segment accounted for the highest market share, contributing to nearly three-fifths of the total share in 2019, and will maintain its leadership position in terms of revenue during the forecast period. However, the anodized segment would register the highest CAGR of 9.5% from 2020 to 2027.
Based on end user, the building & construction segment held the highest market share in 2019, accounting for more than three-fifths of the India aluminum extrusion market, and is expected to continue its leadership status during the forecast period. However, the industrial segment is expected to witness the largest CAGR of 11.7% from 2020 to 2027.
Leading players of the India aluminum extrusion market discussed in the research include Arkema S.A., Celanese Corporation, BASF SE, Covestro AG, Solvay SA, and Sabic.
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