New York:, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The global sales of extruded products are valued at US$ 206.6 billion for 2023 and are foreseen to grow at a rate of 4.0% during 2023–2033. The extruded products market is anticipated to incur revenue of US$ 302.5 billion by the end of 2033.
Executive Summary
The global extruded products market is experiencing substantial growth driven by expanding construction and automotive industries, technological advancements, and the versatility of extruded materials. This report provides a comprehensive analysis of the market, highlighting key trends, growth drivers, challenges, and future prospects.
Introduction
Extrusion is a widely used manufacturing process that involves shaping materials by forcing them through a die. The extruded products market encompasses a diverse range of industries, from construction and automotive to packaging and consumer goods.
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Market Overview
The global extruded products market has witnessed consistent growth due to factors such as urbanization, demand for lightweight and durable materials, and the increasing adoption of sustainable practices in manufacturing.
Market Drivers
- Construction Boom: The growth of the construction industry, driven by urbanization and infrastructure development, is fueling demand for extruded building materials.
- Automotive Innovation: The automotive industry's shift toward lightweight materials to enhance fuel efficiency and reduce emissions is driving the demand for extruded components.
- Customization and Design Flexibility: Extrusion allows for intricate designs and customization, making it appealing across industries seeking unique products.
Market Challenges
- Material Selection: Choosing the right material for extrusion involves considering factors such as strength, durability, cost, and environmental impact.
- Market Competition: The popularity of extruded products has led to increased competition among manufacturers, necessitating innovative design and quality differentiation.
Future Outlook
The global extruded products market is poised for growth as industries seek sustainable, lightweight, and customizable solutions. Technological innovation, materials research, and collaboration across industries will shape the market's evolution.
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Competitive Landscape
Key players in the global extruded products market include:
- PepsiCo
- Conagra Foods, Inc.
- Bunge Limited
- ITC Ltd
- The Kellogg Company
- Premier Foods PLC
- Calbee, Inc.
- Clextral S.A.S
- Old Dutch Foods, Inc.
- Diamond Foods Inc. and more
Recent Developments:
- Norsk Hydro ASA announced in 2022 a strategic collaboration with a leading automotive manufacturer to develop lightweight aluminium extruded components for electric vehicles, aiming to enhance energy efficiency and reduce carbon emissions.
- Arconic announced in 2022 an innovative cold extrusion process for manufacturing complex shapes from high-performance metals. This advancement enables the production of intricate extruded components with enhanced mechanical properties.
- Constellium SE announced in 2022 the introduction of a new series of high-strength aluminium extruded profiles designed for lightweight structural applications in the aerospace industry, offering improved performance and fuel efficiency for aircraft.
- Sapa AS announced in 2021 that it had collaborated with a renewable energy company to develop extruded aluminum components for solar energy systems. The partnership resulted in the creation of lightweight and durable solar panel mounting structures.
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Market Segmentation
The global extruded products market can be segmented based on various factors:
Material Type
- Metals (Aluminum, Steel, Copper)
- Plastics (PVC, HDPE, ABS)
- Others (Rubber, Ceramics)
End-Use Industry
- Construction
- Automotive
- Packaging
- Consumer Goods
Regional Analysis
The market landscape varies across regions, influenced by factors such as economic growth, industrialization, and demand for specific extruded products.
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