The global aluminum alloy extrusion profile was valued at USD 14,110.6 million in 2019 and is projected to reach USD 19,187.2 million by 2027, expanding at a CAGR of 4.8% during the forecast period (2020-2027). 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.
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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.
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.
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.
Competitive Landscape
Key players in the global aluminum alloy extrusion profile market includes Arconic, China Zhongwang Holdings Limited, Hindalco Industries, Hydro Extrusions, Jindal Aluminium, Kaiser Aluminum, Sankyo Tateyama, Inc., and Constellium. These companies are considered as key manufacturers of aluminum alloy extrusion profile, based on their revenue, research & development activities, regional presence, and supply chain management system.
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