Global Aluminum Extruded Products Market to be Propelled by the Rise in Demand for Aluminum Extruded Products for the Use in Building and Construction Projects by CAGR of ~7% During 2022 – 2031
Kenneth Research published a report titled “Aluminum Extruded Products Market: Global Demand Analysis &
Opportunity Outlook 2031” which
delivers detailed overview of the global aluminum extruded products
market in terms of market segmentation by end-users, type, and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth
indicators, restraints, supply and demand risk, along with detailed discussion
on current and future market trends that are associated with the growth of the
market.
The global aluminum
extruded products market is expected to grow at ~7% CAGR over the forecast
period, i.e., 2022-2031. The market is segmented by end-users into automotive, construction, machinery &
equipment, electrical & electronics, and others, out of these, the
automotive segment is anticipated to hold the largest share in the global
aluminum extruded products market by the end of 2031. This can be
attributed to the growing focus in the automotive industry on lightweight cars
that require aluminum alloy for vehicle protection in case of accidents.
There has been a rise in the demand for
aluminum extruded products for use in building and construction projects. Moreover,
the automotive sector has started adopting aluminum alloy in the production of
cars and is anticipated to surge the growth of the global aluminum extruded
products market.
Geographically,
the global aluminum extruded
products market is segmented into five
major regions including North America, Europe, Asia Pacific, Latin America and
Middle East & Africa region. Out of them, the market in the Asia Pacific
region is estimated to witness modest growth over the forecast period owing to
the increase in the industrialization and urbanization.
The
research is global in nature and covers detailed analysis on the market in
North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain,
Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden,
Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil,
Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan,
South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of
Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain,
Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and
Africa). In addition, analysis comprising market size, Y-O-Y growth &
opportunity analysis, market players’ competitive study, investment
opportunities, demand for future outlook etc. has also been covered and
displayed in the research report.
Rise in the Percentage of Urbanization to
Drive the Growth of the Market
According to the World Bank, around 7 out of
10 people will be living in cities by the year 2031
Backed by the rise in the percentage of
urbanization, there will be an increase in the demand for aluminum extruded
products in automotive and construction projects. Furthermore, people living in
the cities have a better standard of living, contributing to more demand of
vehicles in the automobile sector. Therefore, it is expected to drive the
growth of the global aluminum extruded products market.
However,
lack of awareness related to aluminum extruded products and increase defects in
the aluminum extruded products during the manufacturing process are expected
to operate as key restraint to the growth of global aluminum extruded products market over the
forecast period.
This
report also provides the existing competitive scenario of some of the key
players of the global aluminum
extruded products market which includes company profiling of Bonnell Aluminum, Rio Tinto plc, Alcoa
Corporation, ETEM, Banco Aluminium Limited., ZAHIT ALUMINYUM, BHP Billiton
Limited, QALEX, Constellium, Taixing Sainty Industry Co., Ltd., and others.
The profiling enfolds key information of the companies which encompasses
business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global aluminum extruded products
market that will help industry consultants, equipment manufacturers,
existing players searching for expansion opportunities, new players searching
possibilities and other stakeholders to align their market centric strategies
according to the ongoing and expected trends in the future.
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Kenneth Research is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
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strategic minds. Our out of box thinking helps our clients to take wise
decision in order to avoid future uncertainties.
Contact for more
Info:
AJ Daniel
Email: sales@kennethresearch.com
U.S. Phone: +1 313 462 0609
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