Automotive Aluminum Extrusion Market Forecasts to 2028 – Global Analysis By Product (Reverse Extrusion of Aluminum, Forward Extrusion of Aluminum), Application (Interiors, Body Structure, Exteriors), and By Geography
According to Stratistics MRC, the Global Automotive Aluminum Extrusion Market is accounted for $42.42 billion in 2020 and is expected to reach $79.69 billion by 2028 growing at a CAGR of 8.2% during the forecast period. Some of the key factors propelling the market growth include rise in consumer trend toward fuel-efficient vehicles across the globe, growing use of aluminum in chassis applications, vehicle closure parts, and body-in-white parts, surge in trade volume owing to rising bilateral trade among countries, and adoption of aluminum extrusion for manufacture of complicated parts. However, fluctuating price and high initial cost of aluminum are restraining the market growth.
Aluminum extrusion is a metal forming process in which aluminum alloy is converted into desired shape for a wide range of uses. The density of aluminum is one third of steel as resulting products offer high strength, flexibility, stability and its malleability property allows it to be easily machined and casted. With aluminum extrusion, different types of profile are manufactured including semi-closed profiles, closed profile, and open profiles.
By type, the sub-structures segment is likely to witness significant growth over the next eight years, owing to rise in demand for electric vehicles where aluminum sub-structure is widely used to increase vehicle range. Moreover, rise in demand for lightweight vehicles prompts major vehicle manufacturers to prefer aluminum material for sub-structure, which in turn is anticipated to boost the automotive aluminum extrusion market across the globe.
On the basis of geography, North America region is projected to have considerable market growth during the forecast period, owing to implementation of stringent emission norms and increasing disposable income in this region. In this region, OEMs are investing in R&D for manufacturing of light vehicles for fuel efficiency increases the demand of automotive aluminum extrusion. The regulatory frameworks imposed by the National Highway Traffic Safety Administration (NHTSA) and the Environmental Protection Agency (EPA) in the United States have been instrumental in creating an evolving environment for the automobile industry.
Some of the key players in Automotive Aluminum Extrusion Market include Novelis Inc., Omnimax International, Constellium SE, Innoval Technology, Bonnell Aluminum Extrusion Company, CAPALEX, Kaiser Aluminum Corp, KOBE STEEL LTD., UACJ Automotive Whitehall Industries, Inc., 3M, BENTELER International, ProfilGruppen Extrusions AB, SMS Schimmer, Walter Klein GmbH & Co. KG, Kobelco Aluminum Products & Extrusions Inc., and Norsk Hydro ASA.
Estimated Market Size in 2020:
USD 42.42 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 79.69 billion
Tables, Graphs & Figures
Aluminum Grade, Type, Vehicle Type, Product, Application, and Sales Channel
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Aluminum Grades Covered:
• 7000 Series
• 6000 Series
• 5000 Series
• Alumium Space Frame
• Body Panels
• Door Beam
• Seat Back Bar
• Front Side Rail
• Bumper System
• Sub Frames
Vehicle Types Covered:
• Utility Vehicles
• Commercial Vehicles
• Buses & Coaches
• Minicompact (A Segment)
• Supermini (B Segment)
• Compact (C Segment)
• Mid-size (D Segment)
• Executive (E Segment)
• Luxury (F Segment)
• Passenger Vehicles
• Reverse Extrusion of Aluminum
• Forward Extrusion of Aluminum
• Body Structure
• Engine Mount
• Luggage Rack
• Driving Rod
Sales Channels Covered:
• Original Equipment Manufacturers (OEMs)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Automotive Aluminum Extrusion Market is majorly driven by increasing use of aluminum in electric and electric hybrid vehicles, rise in consumer trend toward fuel-efficient vehicles across the globe, and rising complex structures in vehicles along with growing demand for high strength material.
The sub-structures segment is growing at a highest CAGR owing to the rise in demand for electric vehicles where aluminum sub-structure is widely used to increase vehicle range and rise in demand for lightweight vehicles prompts major vehicle manufacturers to prefer aluminum material for sub-structure.
Asia Pacific dominated with a significant market share due to the major manufacturing sectors in countries, such as China, India, Vietnam, Japan, and South Korea and rise in demand for electric vehicles across Asia Pacific.
North America market is growing at a highest CAGR owing to the implementation of stringent emission norms, increasing disposable income in this region, and the implementation of Corporate Average Fuel Economy (CAFE) standards in the region.
Key players in Automotive Aluminum Extrusion Market include Novelis Inc., Omnimax International, Constellium SE, Innoval Technology, Bonnell Aluminum Extrusion Company, CAPALEX, Kaiser Aluminum Corp, KOBE STEEL LTD., UACJ Automotive Whitehall Industries, Inc., 3M, BENTELER International, ProfilGruppen Extrusions AB, SMS Schimmer, Walter Klein GmbH & Co. KG, Kobelco Aluminum Products & Extrusions Inc., and Norsk Hydro ASA.
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