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Aluminum Kitchen Products Is The Fastest Growing Segment Fueling Growth Of The Aluminum Extrusion Market

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Ashish Thapa
Aluminum Kitchen Products Is The Fastest Growing Segment Fueling Growth Of The Aluminum Extrusion Market

Market Overview:

The aluminum extrusion market deals in products made from aluminum through an extrusion process. This process involves pushing aluminum alloy billets or logs through a die to create products with a fixed profile. These aluminum products have applications across various end-use industries like construction, automotive, electric products due to their properties like lightweight, corrosion resistance, durability and strength.

Market key trends:

One of the key trends driving growth in the aluminum extrusion market is the increasing demand for aluminum kitchen products. Aluminum is increasingly being used in cookware, cutlery, bakeware and other kitchen accessories due to its lightweight and durable nature. Aluminum heats quickly and evenly while cooking and cools down faster compared to other metals. It is also easier to clean and maintain aluminum kitchen products. The rising health consciousness among consumers and preference for non-stick cooking has further propelled the demand for aluminum kitchenware.

Segment Analysis

The global aluminum extrusion market is segmented by product type into shapes, rods & bars, pipes & tubes. Among these, the shapes segment dominated the market with maximum share in 2022 primarily due to extensive consumption of aluminum shapes in building & construction applications like doors, windows, facades, etc.

The global Aluminum Extrusion Market Demand is estimated to be valued at US$ 110 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Key Takeaways

The global aluminum extrusion market is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing construction activities and rapid industrialization across developing economies.

Regional analysis

Asia Pacific accounted for the largest market share in the global aluminum extrusion market in 2022, owing to high presence of construction and transportation industries in China, India. China and India are expected to remain the fastest growing regional markets due to high economic growth and increasing investments in construction sector.

Key players

Key players operating in the aluminum extrusion market are UAJC Corporation, Constellium, Norsk Hydro ASA, China Zhongwang Holding Limited, Kaiser Aluminum, Extrudex Aluminum, Gulf Extrusions Co., Novelis, AMG Advanced Metallurgical Group, and Hindalco Industries Ltd. The market is consolidated with top 5 players accounting for over 50% of the global market share.

Read More: https://www.dailyprbulletin.com/rising-construction-activities-to-fuel-growth-of-aluminum-extrusion-market/

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