Asia Pacific Aluminum Extrusion Market
Asia Pacific Aluminum Extrusion Market Share to Hit USD 41.46 Billion by 2030, at CAGR of 7%
Market Overview
Aluminum extrusion is a method of shaping aluminium using an aperture created in a die or mould to get the desired result. Through directed deformation from an extrusion device, the claimed extrusion technique imparts a significant pressure on the aluminium to achieve the desired sections. After the extrusion process, the extruded product is allowed to cool before being treated forward to make it completely straight. This extrusion process may be used to make a wide range of goods, regardless of their shape or size. In 2021, the worldwide Aluminum extrusion market size was worth USD 86,537 million by 2030, it is predicted to be worth USD 1,46,202 million. During the projected period (2022–2030), the market is estimated to increase at a CAGR of 6%. Asia Pacific: 41,466 million USD (in 2030) CAGR: 7%
Market Snapshot
Market Dynamics
Industry Drivers
Because of its higher performance, people are increasingly choosing Aluminum extrusion over steel. Aluminium is a light metal that is roughly one-third the weight of steel or copper. Aluminum extrusions, on the other hand, have a high strength-to-weight ratio, which makes them excellent for use in construction.
Aluminium is 43 times stronger than wood, and if properly treated or alloyed, it may be stronger than some steel grades. The ultimate tensile strength of aluminium can reach 90,000 psi (pounds per square inch) or more. As a result, manufacturers are attempting to switch from steel to aluminium.
Because of the detrimental environmental effects of oil-based plastics, the global industrial industry is gradually transitioning to a non-plastic future. Aluminium is the most common metal on the surface of the world and one of the most important sustainable resources.
Even though steel is the world's most widely used alloy, the aluminium sector has immense potential. Scrap aluminium may also be completely recycled into new Aluminum extrusions.
A increasing use of green activities is driving aluminium growth. These applications are made feasible by aluminium’s favourable qualities, which range from its unique combination of strength and durability to its conductivity, non-magnetic properties, and ability to be reused without losing integrity.
Asia Pacific Aluminum extrusion market is a feasible and adaptable option for an increasing range of production applications due to these characteristics.
Industry Restraints
Volatile aluminium prices are expected to stymie market expansion.
The cost of procuring aluminium ores has a considerable impact on Aluminum extrusion pricing. Because most Aluminum extrusion firms use in-house foundries for billet production, fluctuating aluminium commodity prices have an impact on both the margins of Aluminum extrusion companies and the price at which end-users purchase aluminium.
Segmental Analysis
The most popular product type will continue to be automotive chassis. As a car material, aluminium is progressively gaining appeal. The industry is being propelled ahead by the increasing use of aluminium in chassis applications, vehicle closing parts, and body-in-white parts. As a result, to enhance demand for vehicle chassis, manufacturers are implementing new mobility requirements.
Several manufacturers and suppliers of Aluminum extrusion parts are working on new products and breakthroughs in this industry.” Aluminum extrusion components are a good solution for eliminating heat from a vehicle due to their high thermal conductivity.
"The Growing Use of Asia Pacific Aluminum extrusion market for Structural Support in the Building and Construction Industry"
The greatest user of Aluminum extrusions is projected to be the building and construction sector. Because of its desired physical properties such as lightweight, structural strength, water resistance, and environmental friendliness, Aluminum extrusion has become a popular building and construction material.
Since of their heat resistance, Aluminum extrusions are ideal for the construction of energy-efficient buildings because they can maintain internal temperatures while consuming less energy in heat exchangers.
Regional Analysis
The APEC (Asia Pacific excluding China) Aluminum extrusions market has a lot of space for growth.
The usage of aluminium extruded items per car is increasing rapidly in India and Thailand, as is automobile manufacturing. As a consequence, the APEC Aluminum extrusions market has profit potential.
Due to their lightweight and structural robustness, high-performance automobiles like to use aluminium extruded components as much as feasible to maximise a vehicle's fuel economy without compromising its strength.
"China's Strong Manufacturing Capabilities Will Boost Demand for Aluminum Profiles"
China is the world's largest Asia Pacific Aluminum extrusions market, accounting for 59.5 percent of worldwide market value.
The growing manufacturing sector and rising per capita GDP have sparked a need for world-class infrastructure. The building sector in China will increase aluminium profile demand.
China's market boom is being fueled by rapid urbanisation, growing per capita income, and an expanding population, resulting in more residential and infrastructural expenditures.
In Silvassa, Hindalco Industries Limited announced the opening of a new manufacturing factory. For the downstream market, this extrusion facility will create a variety of extruded aluminium goods
Top Key Players of Asia Pacific Aluminum Extrusion Market
Apart from Hindalco the major companies working in the field of Aluminum extrusion are:
- LB Aluminium Berhad (Malaysia)
- Jindal Aluminium (India)
- Superfine Group (India)
- Integrated Aluminum extrusion Manufacturers (China)
- KAMCO Aluminium (Malaysia)
- ELITE Group of Companies (UAE) etc.
Report Scope
| Report Metric | Details |
|---|---|
| CAGR | 7% |
| Forecast Period | 2023-2031 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
| Segments Covered |
|
Recent Developments
There have been no significant recent advancements in the Aluminum extrusion industry in Asia Pacific. However, the sector, like all other industries, has recently weathered pandemic problems.
The COVID-19 epidemic has had a significant impact on the Asia Pacific Aluminum extrusion market sector. The Covid-19 outbreak has thrown the industry's value chain into disarray. This, however, is expected to be a one-time consequence, with a robust rebound in the future years.
Asia Pacific Aluminum Extrusion Market Segmentation
By Product
- Mill Finished
- Anodized
- Powder Coated
By End Use
- Building & Construction
- Automotive & Transportation
- Electrical & Electronics
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
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