Aluminum Extrusion Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Aluminum Extrusion Companies and the Market is Segmented by Type (Body Structure, Interiors, Exteriors, and Other Types), Application (Passenger Cars, Light Commercial Vehicles, Medium and Heavy-duty Commercial Trucks, and Buses), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The market size and forecast are Provided in value (USD billion) for all the above segments.

Aluminum Extrusion Market Size

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automotive aluminium extrusion market
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 10.55 %
Fastest Growing Market Europe
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Automotive Aluminium Extrusion Market

*Disclaimer: Major Players sorted in no particular order

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Aluminum Extrusion Market Analysis

The automotive aluminum extrusion market was valued at USD 32.05 billion in 2021, and it is expected to reach USD 64.11 billion by 2027, registering a CAGR of around 10.55% during the forecast period.

Manufacturing shutdowns, lockdowns, and trade restrictions during the COVID-19 pandemic negatively affected the automotive aluminum extrusion industry. Furthermore, the loss in metal production due to decreased demand and lack of labor significantly impacted the market.

As the automotive industry has gained its momentum post COVID-19 pandemic, the market is likely to recover during the forecast period. Furthermore, manufacturers are implementing contingency plans to manage future business uncertainties to retain continuity with clients in critical sectors of the automobile industry.

Due to increased spending on R&D operations by major industry players, the automotive and transportation sector is witnessing a surge in aluminum parts in internal combustion and electric cars globally.

Car manufacturers must comply with laws governing the environmental effect of their products. Several organizations, including the EPA, California Air Resource Board, and NHTSA, have passed laws and regulations concerning greenhouse gas emissions.

Several novel features of aluminum extruded parts, such as reducing the car's overall weight by employing aluminum components, are likely to attract more automakers. This will increase demand and boost sales in the industry.

Aluminum Extrusion Market Trends

This section covers the major market trends shaping the Automotive Aluminium Extrusion Market according to our research experts:

Increase in demand of Lightweight Materials

The automotive industry is witnessing an increase in lightweight material developments, such as aluminum, which enable the body to produce lighter vehicles. The other influencing factors for lightweight materials technology are customer-driven requirements, like styling, aesthetic appearance, reduced NVH (noise, vibration, harshness), and comfort.

Also, mass-optimized design technology is being used to reduce the weight of vehicles. Integrated vehicle system design, new manufacturing processes, secondary mass effects, etc., have helped to achieve nearly 30% weight reduction in high strength steel intensive bodies and almost 40% weight reduction in aluminum-intensive vehicle bodies, such as Jaguar XJ, Audi A8, etc.

Regulatory authorities are emphasizing fuel efficiency. As they are imposing laws to reduce carbon emission and materials costs through consistent R&D, the market for body-in-white is expected to grow during the forecast period.

Though aluminum has been in use for a long time, innovations for improving the strength and ductility of aluminum and related casting machinery drive the demand in the market. For instance,

In September 2020, Tesla CEO Elon Musk announced that for the new Model Y, 70 components glued and riveted into the car's rear underbody to be replaced with a single module made using an aluminum casting machine.

In general, EVs use aluminum and aluminum extrusions to improve fuel economy (in PHEVs) and provide better range (in BEVs), safety, and overall driving aesthetics. Extrusions can commonly be found in space frames, doors, hoods, hang-on parts, trunk lids, bumpers, crash boxes, bodies in white, and car bodies, among other components.

The high thermal conductivity of an aluminum extrusion part deems it an excellent option for removing heat from the vehicle. Alloy strength and extrusion profile also play a critical role when considering EV crash management.

Automotive Aluminum Extrusion Market _key market trend 1

Asia-Pacific and Europe to Play a Significant Role in the Market

Asia-Pacific and Europe are projected to be highly lucrative markets, followed by North America, during the forecast period, primarily due to the presence of a prominent automotive industry in China, Germany, Japan, and India. The rising demand for electric vehicles across Asia-Pacific is likely to boost the automotive aluminum extrusion market in the region.

The surging demand for electric vehicles due to stringent emission norms across Asia-Pacific is likely to propel the aluminum extrusion market across the region. In addition, the growing demand for different commodities required as battery enclosures and structural components in electric vehicles can fuel the rise of the regional market.

Europe has the presence of major OEMs and tier-1 suppliers with advanced R&D facilities, which is anticipated to boost the automotive aluminum extrusion market across the region. The enforcement of strict regulations on vehicular and greenhouse gas emissions can contribute to the market's growth.

North America is also anticipated to play a significant role in developing the automotive aluminum extrusion market, with the United States holding the majority market share in the region. The growth in the region can be attributed to the implementation of Corporate Average Fuel Economy (CAFE) standards in the region.

Automotive Aluminum Extrusion Market_geography

Aluminum Extrusion Industry Overview

The automotive aluminum extrusion market is moderately consolidated. The market is characterized by the presence of considerably large players that have tie-ups with major automotive manufacturers. The companies are entering strategic partnerships, acquisitions, and product developments to expand their brand portfolios.

Some of the important players in the market include Novelis Inc., Constellium NV, Norsk Hydro ASA, Kaiser Aluminum, and Kobelco Aluminum Products & Extrusions Inc.Key players are investing in expanding their facilities across the world. For instance,

  • In May 2022, Novelis Inc. announced plans to invest over USD 2.5 billion in Baldwin County, Alabama, to establish new low-carbon recycling and rolling factory. The factory at the 3,000-acre South Alabama Mega Site in Bay Minette will initially have a capacity of 600 kilotons of finished aluminum items per year, with the flexibility to enhance capacity in the future.

Aluminum Extrusion Market Leaders

  1. Novelis Inc.

  2. Constellium SE

  3. Norsk Hydro ASA

  4. Kaiser Aluminum Corp.

  5. Bonnell Aluminum

*Disclaimer: Major Players sorted in no particular order

Constellium SE, Norsk Hydro ASA,  Novelis Inc.,  Kobelco Aluminum Products & Extrusions Inc., Bonnell Aluminum Extrusion Company, Kaiser Aluminum Corp.
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Aluminum Extrusion Market News

  • In August 2022, Norsk Hydro ASA (Hydro) announced a NOK 300 million investment in a new car extrusion press at its Tonder, Denmark, business. The new 12-inch, 6000-tonne extrusion press will serve the European automotive and EV markets, increasing manufacturing capacity and allowing for larger cross-section extrusions.
  • In March 2022, Etem Gestamp stated that it intends to invest 60 million euros to grow its operation for electric vehicle components in Bulgaria. The development of a joint venture with a focus on the extrusion and processing of aluminum profiles for the automobile industry was agreed upon by Etem Group and Gestamp Group.
  • In September 2021, Constellium SE stated that it will supply aluminium structural components for the recently introduced all-electric Ford F-150 Lightning, which will be available in the spring of 2022. The F-150 Lightning, like all F-Series pickup trucks, is heavily built with high-strength aluminium alloys. The windshield header, rocker, radiator support, and other structural components supplied by Constellium for the F-150 Lightning are examples.

Aluminum Extrusion Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Intensity of Competitive Rivalry

      5. 4.3.5 Threat of Substitute Products

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Body Structure

      2. 5.1.2 Interiors

      3. 5.1.3 Exteriors

      4. 5.1.4 Other Types

    2. 5.2 Application

      1. 5.2.1 Passenger Cars

      2. 5.2.2 Light Commercial Vehicles

      3. 5.2.3 Medium and Heavy-Duty Commercial Vehicles

      4. 5.2.4 Buses

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Spain

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

        1. 5.3.4.1 South America

        2. 5.3.4.2 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE**

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles *

      1. 6.2.1 Constellium SE

      2. 6.2.2 Norsk Hydro ASA

      3. 6.2.3 Novelis Inc.

      4. 6.2.4 Kobelco Aluminum Products & Extrusions Inc.

      5. 6.2.5 Bonnell Aluminum Extrusion Company

      6. 6.2.6 Kaiser Aluminum Corp.

      7. 6.2.7 Innoval Technology

      8. 6.2.8 SMS Schimmer

      9. 6.2.9 Omnimax International

      10. 6.2.10 Walter Klein GmbH & Co. KG

      11. 6.2.11 BENTELER International

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Aluminum Extrusion Industry Segmentation

Extrusion is the process of shaping materials using a die force. Extrusion enables the manufacture of components or parts of unique designs in varying shapes and sizes. Aluminum extrusions can play key roles in integrated engineering solutions for automotive structures and components.

The Automotive Aluminum Extrusion Market is Segmented by Type, Application, and Geography.

By Type, the market is segmented into Body Structure, Interiors, Exteriors, and Other Types.

By Application, the market is segmented into Passenger Cars, Light Commercial Vehicles, Medium and Heavy-duty Commercial Trucks, and Buses.

and by Geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

Type
Body Structure
Interiors
Exteriors
Other Types
Application
Passenger Cars
Light Commercial Vehicles
Medium and Heavy-Duty Commercial Vehicles
Buses
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa
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Aluminum Extrusion Market Research FAQs

The Automotive Aluminium Extrusion Market is projected to register a CAGR of 10.55% during the forecast period (2024-2029)

Novelis Inc., Constellium SE, Norsk Hydro ASA, Kaiser Aluminum Corp. and Bonnell Aluminum are the major companies operating in the Automotive Aluminium Extrusion Market.

Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Automotive Aluminium Extrusion Market.

The report covers the Automotive Aluminium Extrusion Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Aluminium Extrusion Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Aluminum Extrusion Industry Report

Statistics for the 2024 Aluminum Extrusion market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Aluminum Extrusion analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Aluminum Extrusion Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)