Increasing use of Aluminum Extrusion in the Automotive Industry

The global aluminum extrusion market is anticipated to grow significantly at a CAGR of 3.6% during the forecast period (2021-2027). As the automotive manufacturer has to maintain their impetus for improved fuel economy, and reduced emissions, aluminum extrusion make a significant contribution. Aluminum is a material choice for the automotive manufacturer due to its environmental benefits, according to a report, around 90% of vehicle's aluminum scaps are recovered, and recycled. Aluminum’s use in automobiles and commercial vehicles is speeding up as it provides a cost-effective way to raise performance and it also is recyclable so reducing environmental effect. Additionally, the aluminum extrusions reduce emissions and increase fuel economy while maintaining stability, and safety. 

Browse the full report description Global Aluminum Extrusion Market Size, Share & Trends Analysis Report by Product (Shapes, Rods & Bars, Pipes & Tubes), and by Application (Building & Construction, Automotive & Transportation, Consumer Goods, Machinery and Equipment, Others) Forecast Period, 2021-2027 at https://www.omrglobal.com/industry-reports/aluminum-extrusion-market

The players are collaborating with emerging companies in order to develop new technologies. For instance, in January 2021, Oslo-based energy and aluminum producer Norsk Hydro ASA announced that the company is working on the new technology of aluminum, with a startup company named Nuvosil, the trial project can lead to a process that eases processing costs considerably and energy consumption around 90%. 

Market Coverage

• Market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered- By Product and By Application
• Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
• Competitive Landscape- Hindalco Industries Ltd., Arconic Corp., Norsk Hydro ASA, Constellium, Qatar Aluminium Extrusion Co. (QALEX), Balexco Bahrain Aluminium Extrusion Co.

Key questions addressed by the report

• What is the market growth rate?
• Which segment/region dominates the market in base year?
• Which segment/region will project fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from pre-COVID-19 forecast

o Most affected region/segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Aluminum Extrusion Market – Segmentation

Aluminum Extrusion by Product 

• Shapes
• Rods & Bars
• Pipes & Tubes

Aluminum Extrusion by Application 

• Building & Construction
• Automotive & Transportation
• Consumer Goods
• Machinery and equipment
• Others

Global Aluminum Extrusion Market – Segmentation by Region