|Study Period:||2018 - 2026|
|Fastest Growing Market:||Europe|
|Largest Market:||Asia Pacific|
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The Automotive Aluminum Extrusion Market was valued at USD 29 billion in 2020, and it is expected to reach USD 58 billion by 2026, registering a CAGR of around 11% during the forecast period (2021 – 2026).
The COVID-19 pandemic has created various disruptions in the Automotive Aluminum Extrusion Market due to factory shutdowns and trade restrictions owing to lockdowns imposed by various governments across the world to contain the spread of the virus. In addition, the decline in metal production due to a drop in demand and lack of workforce under widespread lockdown has cast a major influence on the market.
However, the market is expected to regain its momentum during the forecast period as manufacturers in the automotive aluminum extrusion market have resumed full operations in countries with a limited number of COVID-19 cases. Moreover, manufacturers are also adopting contingency plans to address future uncertainty in businesses to maintain continuity with customers who are a part of essential sectors in the automotive industry.
New Aluminum Alloys with Thermal Deformation Suit Lightweight Applications and the increase in demand for electric vehicles that required high aluminum extruded products can favor the market. Growing R&D in extrusion equipment is contributing toward the growth of the automotive aluminum extrusion market.
For instance, manufacturers should take cues from the Constellium University Technology Center at Brunel University London to develop one-of-its-kind extrusion equipment, which deploys rapid prototyping of automotive components. The Asia-Pacific region is anticipated to hold the largest market share due to major manufacturing sectors in countries such as China, India, Vietnam, Japan, and South Korea.
Scope of the Report
Extrusion is the process of shaping materials using 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 component parts. The report covers the latest trends and technologies followed by COVID-19 impact on the market.
The Scope of the report covers segmentation based on Type (Body Structure, Interiors, Exteriors, and Other Types), Application (Cars, Pickup Trucks, Class 8 Trucks, and Electric Vehicles), and Geography (North America, Europe, Asia-Pacific, and Rest of the world).
|Class 8 Trucks|
Key Market Trends
Electric Vehicles To Propel the Growth of the Market
Aluminum is gaining popularity as the fastest-growing automotive material. Electric vehicles (EVs) are driving the automotive aluminum extrusion market. The growing use of aluminum in chassis applications, vehicle closure parts, and body-in-white parts are bolstering the market growth. As such, automakers are adapting to new mobility standards and are likely to have a positive impact on the growth of aluminum in the Electric Vehicles sector.
Many manufacturers and aluminum extrusion parts supplying companies are coming up with innovations and products in this field. For instance,
- Constellium NV has developed a novel cold-plate technology for efficient cooling of battery modules in EVs. The novel bent extrusion corner design is developed with no space wastage, no chips from drilling, and only a small degree of deformation.
- Tesla-designed Model S uses a four-inch-deep aluminum box running throughout the length of the car for the battery pack support, which, when joined with the aluminum body structure, becomes three times stronger.
In general, EVs make use of aluminum and aluminum extrusions to improve fuel economy (in PHEVs), 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 as an excellent option for removing heat from the vehicle. Alloy strength and extrusion profile also play a critical role when considering EV crash management.
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The Asia-Pacific Region 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. This is primarily due to the presence of a prominent automotive industry in China, Germany, Japan, and India. The rise in demand for electric vehicles across Asia-Pacific is likely to boost the automotive aluminum extrusion market in the region.
The surge in demand for electric vehicles due to the enactment of 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 who have advanced research and development facilities, which in turn is anticipated to boost the automotive aluminum extrusion market across Europe. The enforcement of strict regulations on vehicular and greenhouse gas emissions can contribute to the rise of the market.
North America is also anticipated to play a significant role in the development of 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.
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The Automotive Aluminum Extrusion Market is a moderately consolidated one. The market is characterized by the presence of considerably large players who have tie-ups with major automotive manufacturers. The companies are entering into strategic partnerships, acquisitions, and product developments to expand their brand portfolio. For instance,
- In March 2019, Norsk Hydro ASA purchased the two extrusion plants at Arconic in Brazil, aimed to strengthen the market position of the former and to establish a strong platform for growth.
- In June 2019, Alucast, which is one of the UK’s largest independent aluminum foundries, secured more than Euro 3 million of new contracts from carmakers looking to explore ways of reducing weight on future models.
Some of the important players in the market include Novelis Inc., Constellium NV, Norsk Hydro ASA, Kaiser Aluminum, and Kobelco Aluminum Products & Extrusions Inc.
- In January 2021, Constellium, a manufacturer of extruded products, aluminum rolled products, and structural parts fabricated of a large variety of advanced alloys, and Groupe Renault, a multinational automobile manufacturer in French, entered into a partnership for the research and development project for the development of sustainable automotive aluminum solutions.
- In January 2021, PMS Aluminium, a Turkish-based company in Bursa, selected Danieli Breda, a reputed extrusion and forging plant in Italy, to supply a new, 40-MN, 10-in. front-loading extrusion press.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Body Structure
5.1.4 Other Types
5.2.2 Pickup Trucks
5.2.3 Class 8 Trucks
5.2.4 Electric Vehicles
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Rest of the World
18.104.22.168 South America
22.214.171.124 Middle-East and Africa
6. COMPETITIVE LANDSCAPE**
6.1 Vendor Market Share
6.2 Company Profiles *
6.2.1 Constellium SE
6.2.2 Norsk Hydro ASA
6.2.3 Novelis Inc.
6.2.4 Kobelco Aluminum Products & Extrusions Inc.
6.2.5 Bonnell Aluminum Extrusion Company
6.2.6 Kaiser Aluminum Corp.
6.2.7 Innoval Technology
6.2.8 SMS Schimmer
6.2.9 Omnimax International
6.2.10 Walter Klein GmbH & Co. KG
6.2.11 BENTELER International
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Automotive Aluminium Extrusion Market market is studied from 2018 - 2026.
What is the growth rate of Automotive Aluminium Extrusion Market?
The Automotive Aluminium Extrusion Market is growing at a CAGR of 11% over the next 5 years.
What is Automotive Aluminium Extrusion Market size in 2018?
The Automotive Aluminium Extrusion Market is valued at 29 Billion USD in 2018.
What is Automotive Aluminium Extrusion Market size in 2026?
The Automotive Aluminium Extrusion Market is valued at 58 Billion USD in 2026.
Which region has highest growth rate in Automotive Aluminium Extrusion Market?
Europe is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Aluminium Extrusion Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Automotive Aluminium Extrusion Market?
Novelis Inc., Constellium SE, Norsk Hydro ASA, Kaiser Aluminum Corp., Bonnell Aluminum are the major companies operating in Automotive Aluminium Extrusion Market.