July 7, 2021 08:40 ET | Source: CMI CMI
Seattle, July 7, 2021 (GLOBE NEWSWIRE) - The global extruded aluminum profile market in 2019 is valued at USD 71,853 million, and is expected to grow at a CAGR of 5.1% during the forecast period (2020-2027).
The main trends and analysis of the global extruded aluminum profile market:
It is expected that during the forecast period, more and more industrial fields adopting anodized aluminum profiles will promote the market growth of extruded aluminum profiles. The anodized aluminum profile is a value-added factory finished product with surface treatment. The anodizing treatment in the anodizing tank helps increase the thickness of the oxide coating, thereby preventing the aluminum profile from wearing. Since the anodizing process provides an elegant and smooth surface, it is widely used in the construction industry, especially in the manufacture of doors, windows and curtain walls. Anodized aluminum finishes help improve the durability of the metal and provide corrosion resistance. The aluminum frame made of anodized profiles includes an insulating layer that is easy to clean and maintain.
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The global extruded aluminum profile market is expected to have a compound annual growth rate of 5.1% during the forecast period (2020-2027). Compared with other metals such as steel (7.86 g/cm3) and cast iron (7.20 g/cm3), aluminum has a lower density (2.71 g/cm3). Therefore, it is widely accepted in the aerospace industry, which requires more lightweight materials. According to the Aluminum Association, the weight of a commercial transport aircraft is 80%. In addition, the physical properties of aluminum, such as increased strength and higher strength-to-weight ratio, further increase its demand in the construction, transportation, and automotive sectors.
Among the completion types, the mechanical part is expected to grow at a significant rate during the forecast period. The mechanical finish is used to enhance the surface texture or polish it to a chrome finish. Various techniques are used in this type of finish, such as polishing, sanding, grinding, sandblasting or passivation. As we all know, this is the most popular finish for aluminum profiles, which can add high value and enhance extruded profiles to meet market demand.
The major players operating in the global extruded aluminum profile market include Norsk Hydro ASA, Extal Ltd., Bonnell Aluminium, China Zhongwang Holdings Co., Ltd., China Hongqiao Group Co., Ltd., Centaury Aluminium Corporation, China Hongqiao Group Co., Ltd., Schüco International KG, Hindalco Industries Ltd., Sainty Aluminum, Arconic Corporation and Constellium.
Major players are focusing on capacity expansion strategies to gain a stronger customer base. For example, in December 2020, Indian aluminum product manufacturer Hindalco Industries Ltd. established a factory in Silvasa, India. The plant is expected to produce 34,000 tons of aluminum annually through the extrusion process. This is expected to meet the aluminum demand in the entire Asia-Pacific region.
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