-- According to the report published by Allied Market Research, the global aluminum extrusion industry was pegged at $77.8 billion in 2019, and is anticipated to garner $118.7 billion by 2027, registering a CAGR of 5.4% from 2020 to 2027.
Rise in demand for lightweight and durable extruded products and its high corrosion resistance and durability drive the global aluminum extrusion market growth. On the other hand, high capital cost limits the growth. Moreover, growth in demand for customized extrusion offers an array of opportunities in the next few years.
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Covid-19 Scenario
• The aluminum extrusion market undergone a temporary downfall, due to decrease in demand from the automotive and construction sectors.
• At the same time, extended lockdown across the globe negatively impacted the global supply chain of alumina and bauxite mining. Restrictions on imports and exports further hindered the lead time for replenishment of raw materials, thereby affecting the upstream process.
• Currently, the second wave of Covid-19 is wreaking havoc in most of the nations, and government bodies are executing strict regulations and lockdown again. This may lead to dwindled growth of the market.
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Based on end user, the industrial segment is expected to manifest the fastest CAGR of 8.5% from 2020 to 2027. On the contrary, the building and construction segment accounted for the highest market share in 2019, with around three-fifths of the global aluminum extrusion market.
Based on region, the market across Asia-pacific held the highest market share in 2019, with more than two-third of the global aluminum extrusion market, and is anticipated to maintain its headship status by 2027. In addition, the region is also estimated to portray the highest CAGR of 5.9% from 2020 to 2027. The other regions studied in the report include LAMEA, Europe, and North America.
Leading market players profiled in the report include Hindalco Industries Limited, Aluminium Products Company (ALUPCO), Arconic Corporation, Bahrain Aluminium Extrusion Co. (BALEXCO), China Zhongwang, Constellium N. V., and Gulf Extrusion Co. LLC.
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