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| Aluminum Extrusion Market |
Aluminum extrusions are long lengths of aluminum that have been forced (extruded) through a die to obtain a shape of uniform cross-section. Aluminum extrusions find extensive use in several industries due to their versatile characteristics such as high strength-to-weight ratio, corrosion resistance, and durability. Aluminum extrusions are used in various customized shapes for varied applications ranging from transportation and building & construction industries to consumer products. The global Aluminum Extrusion Market is estimated to be valued at US$ 110 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The aluminum extrusion market is driven by innovative applications across
various end-use industries. Manufacturers are extensively utilizing aluminum
extrusions for innovative and modern designs of vehicles, structures and
consumer products. For instance, aluminum extrusions are increasingly replacing
steel and other metals in applications such as vehicle chassis, panels, wheels,
bike frames etc. due to its high strength-to-weight ratio properties. In the
building & construction industry as well, aluminum extrusions are
witnessing widespread adoption in window frames, doors, wall panels, and rooftop
applications due to its corrosion resistance and durability. New extrusion
profiles are enabling designers and architects to implement light-weight and
sturdy structures. Thus, the emergence of customized and innovative
applications across diverse industries is expected to significantly propel the
growth of global aluminum extrusion market over the forecast period.
Segment
Analysis
The global aluminum extrusion market is fragmented in nature. The largest
sub-segment in the market is construction, which holds around 40% share owing
to widespread usage of aluminum extrusions in window frames, doors, and metal
cladding applications in the construction industry. Its corrosion resistant and
lightweight properties make it suitable for construction applications.
Key Takeaways
The global Aluminum
Extrusion Market Growth is expected to witness high growth.
Regional
analysis: North America dominates the global market and is expected to maintain
its position during the forecast period. Factors such as high construction spending
in the US and Canada, coupled with growing aluminum extrusion usage in
automotive manufacturing in the region are favoring market growth.
Key players: Key players operating in the aluminum extrusion market are PPD
Inc., Icon Plc, Syneos Health, Laboratory Corporation of America Holdings, and
Charles River Laboratories International Inc. Syneos Health Corp. is a leading
contract research organization, offering drug development services to pharma
and biotech companies. Charles River Laboratories International provides drug
discovery and early-stage, preclinical, and clinical drug development
outsourcing solutions to pharma and biotech companies.
For more insights, read- https://www.ukwebwire.com/aluminum-extrusion-market-trends-size-and-share-analysis/
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