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The rising demand in the energy sector and growing construction industry are driving the need for the market.
NEW YORK CITY, NEW YORK, UNITED STATES, August 10, 2022 /EINPresswire.com/ -- The global Aluminum Extrusion market is forecast to reach USD 119.89 Billion by 2027, according to a new report by Reports and Data. In the construction industry, demand for pre-engineered buildings is growing, as it can be quickly assembled, dismantled, and transported easily. Aluminum extruded products are commonly used in various applications, in particular for pre-engineered building roofing. One of the key trends in the aluminum extrusion market will be the growing adoption of pre-engineered buildings, positively impacting the market’s growth.
In the automotive and aerospace and defense industries, demand for lightweight and high-performance materials such as aluminum, carbon fiber, and composites is growing. In the automotive industry, aluminum extruded goods are utilized to reduce emissions and increase vehicle fuel efficiency. Besides, the aluminum extruded products' high temperature and thermal shock resistance properties make them suitable for use in high-performance vehicles and high-performance engine applications. Also, extruded aluminum items have a high rate of recycling and exhibit excellent resistance to creep, fatigue resistance, and corrosion resistance.
The aluminum extrusion market is driven by a rise in government incentives to use aluminum extrusions in Building Integrated Photovoltaic (BIPVs), which are used in renewable energy generation. One of the major factors driving the aluminum extrusion market is rapid growth in the building & construction industry.
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Major companies Jindal Aluminum Ltd., Arconic, Century Aluminum, Global Aluminium Pvt. Ltd., Novelis, Constellium, QALEX, TALCO, Norsk Hydro ASA, and Gulf Extrusions
Further key findings from the report suggest
The production of motor vehicles in India and Thailand is rising at a considerable pace, along with the increasing use of aluminum extrusions per vehicle. This has given rise to lucrative opportunities on the APAC aluminum extrusions market and is growing with a CAGR of 5.2% in the region. Owing to its properties, such as good weldability, corrosion resistance, machinability, and electrical conductivity, aluminum extrusion plays a vital role in the aerospace industry. The extrusion is used in the compartments for galleys & trolleys, instruments, seats, and baggage. Recyclability and oxidation resistance of extrusion materials made from aluminum guarantees the reliability of the overall device in which they are used. Nevertheless, low awareness of these items will be impeding market growth during the forecast period. Combined with the ease of recycling aluminum, the relatively low cost of manufacturing aluminum extrusions has broadened in many industrial, transportation, household, and everyday applications. The demand for extrusion of aluminum is limited. Most of the large and existing market players sell and distribute widely to clients worldwide. Conversely, most of the smaller players are based on their regional markets.
To know more about the report@ https://www.reportsanddata.com/report-detail/aluminum-extrusion-market
Segments covered in the report:
Product Design Outlook (Revenue, USD Billion; 2017-2027)
Shapes Rods & Bars Pipes & Tubes
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Mill finished Powder Coated Anodized
Application Outlook (Revenue, USD Billion; 2017-2027)
Building & Construction Consumer Goods Automotive & Transportation Electrical & Energy
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Regional Outlook (Revenue, USD Billion; 2017-2027)
North America US Europe UK France Asia Pacific China India Japan MEA Latin America Brazil
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About Us: Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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