The India aluminum extrusion market was valued at $1.3 billion in 2019, and is projected to reach $2.5 billion by 2027, growing at a CAGR of 8.3% from 2020 to 2027.
Aluminum extrusion is the process of shaping the aluminum with the help of a shaped opening in a die. During the extrusion process, a ram pushes the aluminum product through the die shape and it comes out with the same shape of the die. After the extruded products are cooled down, they are moved to stretcher to make them fully straight. Basically, aluminum extrusion is found in three shapes, namely hollow, semi-hollow, and solid.
Aluminum extrusions are widely used in building & construction, automotive & transport, and electrical industries.
Increase in demand for lightweight and durable extruded products in various industries is expected to drive the market growth of aluminum extrusion during the forecast period. The lightweight and high strength to weight ratio of aluminum makes it ideal for large constructions and buildings to provide added strength at decreased weight. In addition, the high corrosion resistance of extruded aluminum is expected to fuel the demand in electrical, electronics, and medical sectors. Due to thick layer of aluminum oxide after anodizing or powder coating, such type of extrusion becomes highly resistant to corrosion unlike steel and iron. This leads to reduced maintenance cost for various industrial products. However, high initial set up cost and low production efficiency may negatively impact the market growth.
Request for a FREE sample of this market research report@ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1569
Due to slow extrusion process, aluminum extrusion cannot achieve continuous production. Nonetheless, surge in demand for flexible design is expected to create lucrative opportunities for the market players. With aluminum extrusion, industry players can produce wide range of extruded products with various shapes and sizes on the same equipment.
The India aluminum extrusion market is segmented on the basis of product and end user. On the basis of product, it is divided into mill-finished, anodized, and powder coated. Anodised extrusion expected to witness steady market growth. This is attributed to high chemical resistance of anodized extrusion, which are becoming increasingly important for industrial applications. Due to the thick layer of aluminum oxide, it is highly resistant to corrosion. Based on end user, it is categorized into building and construction, electrical and electronics, automotive & transportation, industrial, and others. The building and construction segment accounted for significant revenue share. This is attributed to large number of smart city projects and rapid urbanization. The aluminum extrusion is majorly used in curtain walling, roofing and exterior cladding in buildings and constructions.
Major players have adopted business expansion to sustain the intense market competition. For instance, Hindalco Industries Limited announced to open new production facility in Silvassa. The 34,000-metric tons extrusion plant will serve the downstream market with various extruded aluminum products. This will strengthen companys market presence in western and southern regions of India.
COVID-19 scenario analysis
– The India aluminum extrusion market is expected to witness temporary downfall, owing to decline in demand for automotive and constructions. Consumers intend to leave home to shop for necessities, but maintain low engagement in shared services.
– In addition, a large number of manufacturing industries and commercial areas went under complete lockdown for the last few months, thereby negatively impacting the market growth.
– Furthermore, extended lockdown across the globe negatively affected the global supply chain of the alumina and bauxite mining. Regulations on cross-border imports and exports delayed the lead time for replenishment of raw materials, thereby negatively affecting the upstream process.
– However, implementation of IoT, robotics, and artificial intelligence may decrease the number of active labors on shop floor; thus, restricting further spread of the virus. This will slowly improve the market scenario.
Key benefits for stakeholders
– The India aluminum extrusion market analysis covers in-depth information of major industry participants.
– Porters five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
– Major countries have been mapped according to their individual revenue contribution to the regional market.
– The report provides in-depth analysis of the India aluminum extrusion market forecast for the period 2020-2027.
– The report outlines the current India aluminum extrusion market trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
– The key drivers, restraints, & market opportunity and their detailed impact analysis are explained in the study.
Send a request to Report Ocean to understand the structure of the complete report @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1569
Key market segments
– By Product Type
– Powder Coated
– By End-User
– Building and Construction
– Electrical and Electronics
– Automotive & Transportation