November 25, 2021 18:00 ET | Source: Precedence Research Precedence Research
Tokyo, Nov. 25, 2021 (GLOBE NEWSWIRE) -- Precedence Research, Recently Announced Report on “Aluminum Extrusion Market - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 - 2030”.
Aluminum extrusion is the process of molding aluminium using a die with a shaped opening. A ram drives the aluminium product through the die shape throughout this process, and it emerges in the same shape as the die. After the extruded product has cooled, it is placed on a stretcher to straighten it completely. Aluminum extrusion comes in three different shapes: hollow, semi-hollow, and solid. Aluminium extrusions are widely used in the building, construction, automotive, and transportation industries, as well as in the electrical industry.
Get Report Sample Copy OR Any Customization Requirement@ https://www.precedenceresearch.com/customization/1384
Crucial factors accountable for market growth are:
Scope of the Aluminum Extrusion Market
Asia Pacific is expected to grow significantly during the forecast period and is anticipated to contribute more than 75% of the market share owing to the rapid developmental activities performed in the developing countries such as India, China, Vietnam, Japan, and South Korea. For instance, On 7th January 2021, National Aluminium Company Limited (NALCO), announced that it will invest Rs.30,000 crores for expansion and business diversification.
Driver - The rapid growth in the construction sector across the globe is a primary attribute that is estimated to drive the growth of the Aluminum Extrusion Market. For instance, On 7th December 2020, Hindalco Industries Limited announced that it has plans to invest ₹7,000 crore in ‘next few years’ in order to double its production capacity.
Restraint - The major restraining factor that will negatively impact the growth of the Aluminum Extrusion Market includes high initial set up cost and low production efficiency.
Opportunity - With the help of aluminium extrusion, industry players can produce a wide range of extruded goods in a variety of shapes and sizes on the same equipment, and this aspect is likely to drive the Aluminum Extrusion Market forward. For instance, On 23rd March 2021Alcoa Corporation has announced that it will supply sustainable aluminium for the wheels of the Audi e-tron GT, the first vehicle to employ metal produced using a new technology that abolish all direct carbon dioxide emissions from the typical smelting process.
Challenges - The slow extrusion process of aluminum will prevent it to be used in continuous production processes and this attribute is estimated to be a major challenge that will hamper the market growth.
Browse more related reports@ https://www.precedenceresearch.com/industry/chemical-and-material
Segments Covered in the Report
Click Here to View Full Report Table of Contents
Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1384
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
For Latest Update Follow Us:
https://www.linkedin.com/company/precedence-research/
https://www.facebook.com/precedenceresearch/
https://twitter.com/Precedence_R