November 21, 2024 10:00 ET | Source: Precedence Research Precedence Research
Ottawa, Nov. 21, 2024 (GLOBE NEWSWIRE) -- The North America aluminum extrusion market size is expected to increase from USD 10.6 billion in 2025 to approximately USD 18.56 billion by 2033, According to Precedence Research. The Canada aluminum extrusion market size was valued at USD 7.03 billion in 2024 and is expected to reach around USD 13.16 billion by 2033, with a solid CAGR of 7.22% between 2024 and 2033. security roller shutter
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The technique of forcing aluminum alloy material through a die with a certain cross-sectional profile is known as aluminum extrusion. Over the past few decades, aluminum extrusion has been increasingly popular in product design and manufacture. Applications for extrusion are many and span a wide range of industries, including the energy, automotive, electronics, aerospace, and architectural sectors.
North America Aluminum Extrusion Market Highlights:
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North America Aluminium Extrusion Market Revenue Analysis by Countries and Segments from 2020 to 2023
North America Aluminium Extrusion Market Revenue (USD Million), By Country 2020 to 2023
North America Aluminium Extrusion Market Revenue (USD Million), By Product 2020 to 2023
North America Aluminium Extrusion Market Revenue (USD Million), By Application 2020 to 2023
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Artificial Intelligence (AI) Impact of North America Aluminum Extrusion Market
The integration of Artificial Intelligence (AI) is significantly impacting the North America Aluminum Extrusion Market, driving advancements across manufacturing, design, supply chain management, and sustainability. Industries like construction, automotive, and aerospace increasingly rely on aluminum extrusions for their lightweight and versatile properties, AI is enabling manufacturers to meet these demands with greater efficiency and precision.
Overall, the impact of AI on the North America Aluminum Extrusion Market is transformative. It empowers manufacturers to improve efficiency, reduce costs, and innovate faster while maintaining high standards of quality and sustainability. As adoption of AI continues to grow, it will further solidify its role as a cornerstone of the industry’s future, enabling businesses to stay competitive in a rapidly evolving market.
Major Trends/Growth Factors in North America Aluminum Extrusion Market
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Other Industries Impacted Positively by Aluminum Extrusion Market in North America:
The global automotive aluminum extrusion market size was USD 83.92 billion in 2023, calculated at USD 90.83 billion in 2024, and is projected to surpass around USD 200.30 billion by 2034, expanding at a CAGR of 8.23% from 2024 to 2034. Reducing vehicle weight has been a top priority for the automobile industry in recent years. Aluminum has emerged as the preferred material for many applications due to stricter restrictions and high customer demand for fuel economy.
The global extrusion sheet market size was USD 108.73 billion in 2023, calculated at USD 115.91 billion in 2024, and is projected to surpass around USD 219.63 billion by 2034, expanding at a CAGR of 6.6% from 2024 to 2034. In the next years, the market is anticipated to be driven by the growing global building rehabilitation and construction activities. In the building sector, extrusion sheets are taking the place of more conventional materials like wood because of their resilience to moisture and corrosion.
The global aluminum alloys market size was USD 133.78 billion in 2023, calculated at USD 142.09 billion in 2024, and is expected to be worth around USD 259.54 billion by 2034. The market is slated to expand at 6.21% CAGR from 2024 to 2034. By enhancing the properties of the material, reducing the need for extra materials, and determining the likely composition of alloys with certain performance characteristics, artificial intelligence (AI) contributes to the market's increased production productivity in the aluminum alloys sector.
North America Aluminum Extrusion Market Report Coverage
Aluminum Extrusion Market Regional Analysis:
Global Aluminum Extrusion Market Size and Forecast 2024 to 2034
The global aluminum extrusion market size is estimated to grow from USD 88.97 billion in 2024 to approximately USD 169.22 billion by 2034. The global market is representing at a solid CAGR of 6.64% during the forecast period 2024 to 2034. The Asia Pacific aluminum extrusion market accounted for USD 66.73 billion in 2024 and contributed more than 75% of market share in 2023. Rise in demand for lightweight and durable extruded products across diverse industry verticals and demand for flexible designs are expected to driving aluminum extrusion market.
U.S. Aluminum Extrusion Market Size and Growth 2024 to 2033
The U.S. aluminum extrusion market size surpassed USD 2.48 billion in 2023 and is projected to be worth around USD 4.78 billion by 2033, with a notable CAGR of 7.57% from 2024 to 2033. The United States is expected to be the second largest growing country in the market during the forecast period. The rise in population and the availability of well-developed industrial infrastructure is driving the demand for the aluminum extrusion in the industries. The rising concern about environmental pollution and stringent regularities concerning environmental safety is further contributing to the growth of the North America aluminum extrusion market.
Aluminum Extrusion Market Regional Analysis by North America
This increase is being driven by a number of sources. First off, the nation's continued industrial development and population growth are major factors in the growing demand for aluminum extrusions in a variety of industries. Because aluminum extrusions are lightweight, corrosion-resistant, and recyclable, they are widely employed in a variety of industries, including electronics, automotive, aerospace, and construction. The market for aluminum extrusion in North America is also expanding as a result of stricter regulations aimed at environmental safety and rising worries about environmental contamination.
Aluminum is known for its sustainability advantages as a recyclable material, supporting international initiatives for environmentally responsible building and industrial methods.
“The Aluminum Association in Arlington, Virginia, has released early figures that show the demand for aluminum in North America, which includes the United States and Canada, grew 5.2% annually through the first half of 2024. This comes after a year of weaker demand in 2023, which was mostly caused by industrial destocking and a roughly 25% drop in imports.”
A developed industrial infrastructure in the U.S. facilitates the effective manufacture and marketing of aluminum extrusion goods. This infrastructure makes it easier for the nation to satisfy the growing demand from a variety of businesses looking for materials that are both strong and lightweight for their uses.
North America Aluminum Extrusion Market Segmentation Analysis
The shapes segment held the largest share of the North America aluminum extrusion market in 2023. The freedom to make different shapes for different purposes is the major factor for the segment’s growth. The different shapes can be used in aerospace, automotive, and other industrial processes. On the other hand, the rods and bars segment is expected to grow at the fastest rate during the forecast period. The segment is growing mainly due to the building and construction industry, followed by sports, electrical, domestic, and others.
The building and construction segment dominated the North America aluminum extrusion market in 2023. The segment is growing due to the growing population. The large population has increased the building and construction. The growing industrialization has also contributed to the segment’s growth. The automotive and transportation segment is estimated to grow at the fastest rate during the forecast period, majorly due to the shift towards electric vehicles because EVs should be lightweight for better performance, which can be achieved by aluminum extrusion.
North America Aluminum Extrusion Major Companies
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What is Going Around the Globe?
The research report categorizes the North America aluminum extrusion market into the following segments and subsegments:
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