Portland, OR, April 26, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global aluminum extrusion industry was pegged at $77.8 billion in 2019, and is anticipated to garner $118.7 billion by 2027, registering a CAGR of 5.4% from 2020 to 2027.
Rise in demand for lightweight and durable extruded products and its high corrosion resistance and durability drive the global aluminum extrusion market growth. On the other hand, high capital cost limits the growth. Moreover, growth in demand for customized extrusion offers an array of opportunities in the next few years.
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Covid-19 Scenario
- The aluminum extrusion market undergone a temporary downfall, due to decrease in demand from the automotive and construction sectors.
- At the same time, extended lockdown across the globe negatively impacted the global supply chain of alumina and bauxite mining. Restrictions on imports and exports further hindered the lead time for replenishment of raw materials, thereby affecting the upstream process.
- Currently, the second wave of Covid-19 is wreaking havoc in most of the nations, and government bodies are executing strict regulations and lockdown again. This may lead to dwindled growth of the market.
The global aluminum extrusion market is segmented on the basis of product and end user. Based on product type, the mill-finished segment dominated with the largest share in 2019, holding nearly three-fifths of the global market, and is likely to maintain its dominant position during the forecast period. On the other hand, the anodized segment is anticipated to showcase the largest CAGR of 6.7% from 2020 to 2027.
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Based on end user, the industrial segment is expected to manifest the fastest CAGR of 8.5% from 2020 to 2027. On the contrary, the building and construction segment accounted for the highest market share in 2019, with around three-fifths of the global aluminum extrusion market.
Based on region, the market across Asia-pacific held the highest market share in 2019, with more than two-third of the global aluminum extrusion market, and is anticipated to maintain its headship status by 2027. In addition, the region is also estimated to portray the highest CAGR of 5.9% from 2020 to 2027. The other regions studied in the report include LAMEA, Europe, and North America.
Leading market players profiled in the report include Hindalco Industries Limited, Aluminium Products Company (ALUPCO), Arconic Corporation, Bahrain Aluminium Extrusion Co. (BALEXCO), China Zhongwang, Constellium N. V., and Gulf Extrusion Co. LLC.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.