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Aluminum Extrusion: Exploring Market Trends, Applications, and Technological Advancements

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Steve Anderson
Aluminum Extrusion: Exploring Market Trends, Applications, and Technological Advancements

The global aluminum extrusion market size is anticipated to reach USD 146.82 billion by 2030, expanding at a CAGR of 8.2% from 2024 to 2030, according to a new report by Grand View Research, Inc.Growing infrastructure and residential construction activities, particularly in the booming Asia Pacific, Latin America, and MENA regions, are poised to be major growth drivers in the coming years. Rapid urbanization, rising disposable incomes, and population surge are fueling massive investments in infrastructure and construction sectors. In the budget for 2023 - 2024, the Indian government allocated INR 16,000 crores (~USD 1931.5 million) to develop “sustainable cities of tomorrow”. Such initiatives are anticipated to transform multiple cities in India by improving their infrastructure and mobility and creating urban sustainability. There exists a substantial deficit in infrastructure investment on a global scale, prompting governments worldwide to actively address and reduce this gap. This concerted effort is anticipated to have a positive impact on this market through 2030.


Aluminum Extrusion Market Report Highlights

  • Shapes dominated the product segment with more than 79.0% revenue share in 2023, owing to excellent malleability properties and rising demand for aluminum shapes in prominent end-use industries
  • In terms of product, the rods & bars segment is expected to register a significant CAGR over the forecast period
  • Buildings & construction application held the largest revenue share of over 60.0% in 2023. Aluminum extrusion products find a wide range of applications in the construction sector and are anticipated to witness significant demand growth over the forecast period, owing to infrastructural developments
  • Increased spending on R&D activities in the automotive industry by leading players has led to a substantial spike in demand for lightweight aluminum parts in electric vehicle segment
  • Asia Pacific dominated the market for aluminum extrusion in 2023, owing to factors such as growing construction & automotive industry in this region due to the presence of rapidly developing economies such as China, India, and other Southeast Asian countries
  • In November 2023, Norsk Hydro ASA announced an agreement with Watt Electric Vehicles (WEVC), an automotive start-up in the UK, to deliver low-carbon and recycled aluminum extrusion chassis for the latter’s upcoming commercial electric vehicle to be produced from the beginning of 2025

For More Details or Sample Copy please visit link @: Aluminum Extrusion Market Report


The construction sector’s boom is not the only driver for market expansion. Aluminum's flexibility, strength, and rust resistance make it popular application in automotive industry, especially with the changing dynamics of automotive vehicles. The booming automotive & transportation application segment is expected to drive the demand for aluminum extrusion over the coming years.

Stringent environmental regulations, particularly around carbon emissions, are driving automakers to embrace aluminum over steel. Car manufacturers face a mounting pressure to comply with laws like those from the EPA, CARB, and NHTSA, pushing them to adopt lighter and more fuel-efficient materials. Aluminum extruded parts offer an enticing solution here by significantly reducing vehicle weight, thereby lowering emissions and meeting regulatory requirements. This, in turn, is expected to reduce weight and drive significant demand for aluminum extruded parts.

Gain deeper insights on the market and receive your free copy with TOC now @: https://www.grandviewresearch.com/industry-analysis/aluminum-extrusion-market

We have segmented the global aluminum extrusion market on the basis of product, application, and region.


Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

Contact:

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll-Free: 1-888-202-9519

Email: [email protected]

Web: https://www.grandviewresearch.com

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To address several environmental challenges the green building materials are working in construction industry, comprising natural resource depletion, loss of biodiversity, atmospheric pollution, contamination of fresh water resources, and anomalous climate change.In addition, the low maintenance and operational pressure and costs of environmental regulations relating to productions are the key factors that propel the green building materials industry worldwide.

On the other hand, irregular application of energy guidelines and extremely price-sensitive customers may restrain the growth of market.

The green building materials market is anticipated to grow at a significant CAGR of 11.2% in the upcoming period as the scope, product types, and its applications are increasing across the globe.Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures) @ https://www.millioninsights.com/industry-reports/green-building-materials-market/request-sampleGreen building materials industry may be explored by type, applications, and geography.

Engineering, Procurement, and Construction Management (EPCM) Market Analysis: Trends, Growth, and Future Outlook
Aishwarya Bhasme 2023-07-06
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The preceding data points are solely relevant to the businesses' focus on the Engineering, Procurement, and Construction Management (EPCM) market. com/request-sample/73131 Engineering, Procurement, and Construction Management (EPCM) Market Key Players:  The following are the key players of the Engineering, Procurement, and Construction Management (EPCM) market-• Citec (Finland)• Engineers India Limited (India)• Sports Shanghai Ltd. COVID-19 Impact Analysis on Engineering, Procurement, and Construction Management (EPCM) Market: The research also addresses the impact of COVID-19 on the Engineering, Procurement, and Construction Management (EPCM) market. Key Questions Answered in the Engineering, Procurement, and Construction Management (EPCM) Market Report are: What will be the CAGR of the Engineering, Procurement, and Construction Management (EPCM) market during the forecast period (2021-2027)? About UsMaximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally.
Things to know about Home Construction
Jade Homes 2023-03-23
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This is going to be your Homes Structure and hence all emphasis needs to be given to get the right structural design. There are several types of foundation, and it is your Structural Designer who decides the best suited foundation for your home. Though a concrete slab is one of the most common types of foundation used in Home Construction it depends on the number of floors being built and the load factor. It is important for us to follow certain testing procedures during construction to ensure the concrete design meets the specified standards. The other testing parameters for Red Clay Bricks are Crushing strength test, hardness test, shape, size & Color test, Soundness Test, Structure of bricks and presence of soluble salt.