Aluminum extrusion is a technique used to transform aluminum alloys into objects with a definitive cross-sectional profile for a wide array of applications. The extrusion process produces most of aluminum’s unique combination of physical characteristics. Its malleability allows it to be easily machined and cast. Yet, aluminum is one-third the density and stiffness of steel. Therefore, its products offer strength and stability, particularly when alloyed with other metals. Aluminum extrusions are 100% recyclable and emit no significant hazardous gases during their processing. aluminum extrusion is increasingly replacing steel in automobiles. It is preferred over other metals due to its properties such as lightness of weight and low fuel consumption. Furthermore, aluminum is resistant to corrosion and easily recyclable. This ensures sustainability and durability of vehicles. Therefore, aluminum is widely used in the automobile industry.
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Increase in governmental incentives to employ aluminum extrusions in Building Integrated Photovoltaic (BIPVs), which are used in generation of renewable energy, is driving the aluminum extrusion market. Rapid growth in the building & construction industry is one of the major factors propelling the aluminum extrusion market. Rise in demand for infrastructure development, residential, and non-residential projects and rise in manufacturing of power generation & distribution equipment, and air conditioning units are augmenting the aluminum extrusion market. Rise in per capita income and changing lifestyles of the people are also triggering the growth of the aluminum extrusion market.
On the other hand, availability of cheaper substitutes is hampering the aluminum extrusion market.
Based on product type, the aluminum extrusion market can be segmented into mill finished, powder coated, and anodized. The mill finished segment accounts for more than 60% share of the market owing to its rising usage in non-corrosive articles.
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In terms of end-use industrial applications, the aluminum extrusion market can be divided into building & construction, machinery & equipment, electrical, consumer durables, and transportation industry. The building & construction segment accounts for more than 60% share of the market owing to the rapid urbanization and industrialization.
Based on geography, the aluminum extrusion market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific constitutes significant share of the aluminum extrusion market owing to the expansion in building & construction industry and shift toward adoption of green buildings in emerging economies such as Japan, China, and India. Europe is following the aluminum extrusion market in Asia Pacific, led by the vast automobile industry base in the region and increase in industrial consumption of extruded aluminum.
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Key players operating in the aluminum extrusion market include Aluminium Products Company (ALUPCO), Al-Taiseer Aluminium Factory, Balexco, Hulamin Extrusions, Tajik Aluminum Company (TALCO), YKK Corporation of America, Zahit Aluminum, ALCOA Inc., Constellium, Gulf Extrusions, Hindalco-Novelis, and Hydro Aluminum.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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