Global Aluminium Extrusion Market to be driven by demand from building integrated photovoltaic (BIPVs) used as renewable energy generation in the Forecast Period of 2023-2028

The new report by Expert Market Research titled, ‘Global Aluminium Extrusion Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global aluminium extrusion market, assessing the market based on its segments like product type, alloy type, end use, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2018-2028)

Historical Market Size (2022): 22.38 million metric tons
Forecast CAGR (2023-2028): 5%
Forecast Market Size (2028): 29.99 million metric tons

The market for aluminium extrusion has seen substantial growth due to factors such as the increased government incentives for the use of aluminium extrusions in building integrated photovoltaic (BIPVs), which use renewable energy generation. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the aluminium extrusion market. The building and construction industries’ rapid growth is a major driver of the aluminium extrusion industry. The increasing demand for infrastructural development, including both residential and non-residential projects, as well as the growing manufacturing of power generation, distribution equipment, and air conditioning systems, benefits the aluminium extrusion industry. Higher per capita sales and changing lifestyles are also driving the growth of the aluminium extrusion sector.

Industry Definition and Major Segments

Aluminium extrusion is the method of shaping aluminium alloys into complex shapes by forcing them via a cross-sectional die. Extracted aluminium is extremely lightweight, cost-effective, and corrosion resistant. It also has high ductility, better conductivity, and the ability to be recycled several times without losing its integrity. It is also extremely durable and stable, as well as muddy in nature. It’s also used for transporting and disposing of mined materials, as well as the production of various aircraft parts. Because of the numerous benefits of the process’s products, they are widely used in a variety of industries, including automotive, electric, and building.

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Based on the product type, the industry is divided into:

Mill Finished
Anodized
Powder Coated

Based on the alloy type, the industry is divided into:

1000 Series Aluminium Alloy
2000 Series Aluminium Alloy
3000 Series Aluminium Alloy
5000 Series Aluminium Alloy
6000 Series Aluminium Alloy
7000 Series Aluminium Alloy

Based on the end use, the industry is divided into:

Building and Construction
Transportation
Machinery and Equipment
Consumer Durables
Electrical

The regional markets for aluminium extrusion include:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Market Trends

Geographically, due to the growth of the construction industry and the drive toward green building adoption in developing economies such as Japan, China, and India, the Asia Pacific region accounts for a significant portion of the aluminium extrusion sector. Europe is also a major market for aluminium extrusion, thanks to the region’s strong automotive industry and increasing industrial use of extruded aluminium. In the aluminium extrusion market, mill finished is the most popular product form, while the 6000 series alloy is the most popular alloy type. The building and development sector leads the end-use segment, buoyed by rising construction activity globally.

Key Market Players

The major players in the market are W.W. Grainger, Inc., Orange Aluminium Extrusions Stock, Norsk Hydro ASA, Aluminium Extrusion Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.