Extruded Aluminum Profiles Market, By Product Type (Pipes & Tubes, Rods & Bars, and Others), By Application (Building & Construction, Automotive & Transportation, Consumer Goods, Electrical & Energy, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Aug 2024

Code : CMI4500

Pages :170

Formats :

Excel and PDF

Industry : Advanced Materials

Market Challenges: Volatility in raw material prices

The extruded aluminum profiles market has been experiencing considerable uncertainties and challenges in terms of raw material price volatility over the past few years. Aluminum is the major raw material that is required for the production of aluminum profiles. The volatility in raw material prices is also adversely impacting the investments and expansion plans of aluminum profile producers. Uncertainty over aluminum costs does not provide businesses a stable environment to take long-term investment decisions with certainty.

Market Opportunities: Development of innovative aluminum alloys

The advancement of aluminum alloy technology provides immense potential for growth in the extruded aluminum profiles market. Aluminum is increasingly being used across various industries due to its light weight, corrosion resistance, and recyclability. Developing aluminum alloys with enhanced properties can open up new applications and drive further adoption. For instance, the aerospace industry has begun utilizing aluminum alloys that offer superior strength to weight ratios for aircraft components. As per the Airbus Global Market Forecast released in 2021, worldwide passenger traffic is projected to double by 2040, presenting a massive opportunity for growth in aircraft manufacturing which depends heavily on lightweight materials like advanced aluminum alloys.