The use of aluminum extruded products offers significant and long-lasting corrosion resistance. Aluminum- extruded products also demonstrate excellent creep resistance, fatigue resistance, and mechanical properties, which increase its strength, formability, and atmospheric resistance. In the automotive industry, lightweight and high-performance materials such as aluminum extruded products are used to minimize the amount of CO2 emissions. In other high-performance engine applications, such as aerospace and defense and marine, aluminum extruded products are also used to provide high-temperature resistance and increased fuel efficiency. Furthermore, aluminum extruded products are fully recyclable and have a high recycling rate. All these factors are expected to support the growth of the global aluminum extrusion market during the forecast period.
As per Technavio, the increasing adoption of pre-engineered buildings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global aluminum extrusion market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Aluminum Extrusion Market: Increasing Adoption of Pre-Engineered Buildings
Aluminum extruded products are widely used in pre-engineered buildings, especially in roofing applications. Pre-engineered buildings are commonly used in residential, warehousing, and workshop construction as they enable fast assembly, dismantling, and easy transportation. The fast-paced growth of the online retail industry has also increased the construction of warehouses in developing countries such as India and China. Therefore, pre-engineered warehouses constitute one of the fastest-growing sectors in these countries.
Other industries such as the automotive, logistics and warehouse, pharma, fast-moving consumer goods, and retail provide significant growth opportunities for the global pre-engineered buildings market. Many pre-engineered buildings manufacturers have either collaborated with other logistics companies or developed their own in-house logistics capabilities. Thus, the growing demand for pre-engineered buildings will positively impact the global aluminum extrusion market during the forecast period.
“Currently, recycling aluminum is an environment-friendly process, and it demands very less energy than manufacturing primary aluminum. Moreover, recycling aluminum scrap improves the industry’s economic viability while minimizing environmental impact. This significantly reduces CO2 emissions, minimizes energy and water consumption, and lowers air pollution. Therefore, secondary aluminum has become the preferred raw material for aluminum extrusion producers, which will drive market growth during the forecast period,” says a senior analyst at Technavio.
Global Aluminum Extrusion Market: Segmentation Analysis
This market research report segments the global aluminum extrusion market by product (mill-finished, anodized, powder-coated), by end-user (building and construction, automotive and transportation, machinery and equipment, consumer durables, electrical and electronics, and others) and geographical regions (APAC, North America, Europe, South America, MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the application of aluminum extruded products in several industries.
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