Analysis on New Product Launches in COVID-19 Related Markets - Aluminum Extrusion Market 2020-2024 | Increasing Demand for A...
03 Julio 2020 - 8:00PM
Business Wire
The aluminum extrusion market is expected to grow by 6.76
million tons during 2020-2024. The report also provides the market
impact and new opportunities created due to the COVID-19 pandemic.
We expect the impact to be significant in the first quarter but
gradually lessen in subsequent quarters – with a limited impact on
the full-year economic growth according to the latest market
research report by Technavio.
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Technavio has announced its latest market
research report titled Global Aluminum Extrusion Market 2020-2024
(Graphic: Business Wire)
Rapid urbanization, increasing purchasing power, and steady
economic growth in emerging economies have increased the adoption
of automobiles across the world. For instance, the GDP per capita
of China increased from USD 2,695.37 to USD 8,827 during 2007-2017.
Similarly, Indonesia’s GDP per capita increased from USD 1,885.10
to USD 3,846.57 during the same period. These factors have
significantly contributed to the growth of the global automotive
industry. The automotive industry is one of the major end-users of
aluminum extruded products. Aluminum extruded products are widely
used in engine mounts, brake components, radiator frames, seat
frames, and high-end equipment such as safety components, crash
management systems, body-in-white structures, and elaborate
decorative parts. Therefore, the thriving automotive industry is
expected to drive the growth of the global aluminum extrusion
market during the forecast period.
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As per Technavio, the increasing demand for solar energy will
have a positive impact on the market and contribute to its growth
significantly over the forecast period. This research report also
analyzes other significant trends and market drivers that will
influence market growth over 2020-2024.
Aluminum Extrusion Market: Increasing
Demand for Solar Energy
Factors such as the expected decline in fossil fuels and growing
concerns over carbon emissions are increasing the adoption of
renewable energy sources such as solar. Besides, many governments
across the world are offering support and subsidies for the
installation and use of solar power. Aluminum-extruded products are
widely used in the manufacture of frames of photovoltaic panels.
Therefore, the increasing demand for solar energy is expected to
positively influence the growth of the global aluminum extrusion
market during the forecast period.
“Growing consumption of secondary aluminum
and the increasing adoption of pre-engineered buildings will
further boost market growth during the forecast period”, says a
senior analyst at Technavio.
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Aluminum Extrusion Market: Segmentation
Analysis
This market research report segments the Aluminum extrusion
market by Product (Mill-finished, Anodized, and Powder coated),
End-user (Building and construction, Automotive and transportation,
Machinery and equipment, Consumer durables, and Others), and
Geography (APAC, North America, Europe, South America, and
MEA).
The APAC region led the aluminum extrusion market in 2019,
followed by North America, Europe, South America, and MEA
respectively. During the forecast period, APAC is expected to
register the highest incremental growth due to the thriving
construction and automobile industries in the region.
Technavio’s sample reports are free of charge and contain
multiple sections of the report, such as the market size and
forecast, drivers, challenges, trends, and more. Request a
free sample report.
Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focus on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio’s report library
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and potential markets and assess their competitive positions within
changing market scenarios.
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Technavio Research Jesse Maida Media & Marketing Executive
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