Global Aluminum Extrusion Market 2018-2022
About Aluminum Extrusion
Aluminum extrusion is the process through which aluminum billets are preheated at elevated temperatures (800-925°F) and are transformed into desired aluminum profiles using selective die. Extruded aluminum includes mill finished, anodized, and powder-coated profiles. Due to superior properties mainly lightweight, corrosion resistance and high strength make aluminum extrusion profiles the product of choice across various end-user segments.
Technavio’s analysts forecast the global aluminum extrusion market to grow at a CAGR of 3.43% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global aluminum extrusion market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of aluminum extrusion.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aluminum Extrusion Market 2018-2022
Technavio recognizes the following companies as the key players in the global aluminum extrusion market: Norsk Hydro, CHINA ZHONGWANG HOLDINGS, Fenglu Aluminum, Arconic, Constellium, Gulf Extrusions.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing importance of secondary aluminum extrusions. Aluminum possesses high recyclable property. Secondary aluminum is the recycled aluminum from the end of life products. Recycling aluminum is an environment-friendly process, and it demands 5% of the energy that is needed to produce primary aluminum. Although aluminum extrusions are priced slightly higher than cast iron, the overall production cost adds a benefit of cost savings due to the reduced energy usage.”
According to the report, one of the major drivers for this market is Increasing demand for green building construction. The demand for green building constructions - aimed toward eco-friendliness, energy efficiency and reduction of CO2 emissions - is growing rapidly. The aluminum extrusions are predominantly used in windows and doors as they meet the green building standards such as Leadership in Energy and Environmental Design (LEED) by the US Green Building Council (USGBC) and environment, health, and safety (EHS) standards.
Further, the report states that one of the major factors hindering the growth of this market is Declining CV (LCV & HCV) business globally. The commercial vehicle business, which includes both light commercial vehicle (LHV) and heavy commercial vehicles (HCV), is declining year-on-year owing to the saturation of greater capacity enduser markets in several countries such as India and China. By 2017, total heavy commercial vehicle production was 4.12 million units, and this number is expected to reduce to 3.77 million units by 2022 at a CAGR of (1.76)% during the forecast period. This decline in the commercial vehicle production which use aluminum extrusions in front bumper beams, crash boxes, radiator beams, roof rails applications is expected to hamper the demand for aluminum extrusions during the forecast period.
Norsk Hydro, CHINA ZHONGWANG HOLDINGS, Fenglu Aluminum, Arconic, Constellium, Gulf Extrusions.