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Posted by larry wilson on May 15, 2024 at 3:15am 0 Comments 0 Likes
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ContinueThe 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.
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.
Related Press Release@ Aluminum Extrusion Market Report
Aluminum Extrusion Market Report Highlights
Request For A Free Consultation@ https://www.grandviewresearch.com/request-free-consultation/6676/rfc
Aluminum Extrusion Market Segmentation
Grand View Research has segmented the global aluminum extrusion market on the basis of product, application, and region:
Aluminum Extrusion Product Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
Aluminum Extrusion Application Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
Aluminum Extrusion Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)
List of Key Players in the Aluminum Extrusion Market
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