Global Construction and Automotive Sector to Boost Prospects of Aluminum Extrusion Market, finds FMI Study
Future Market Insights, in its well-researched market study offers valuable insights related to the projected growth prospects of the global aluminum extrusions market during the forecast period, 2019-2029. The report finds that the market value of the aluminum extrusions market was ~ US$ 100 million in 2018 and is likely to grow at a compounded annual growth rate (CAGR) of ~4.5% through the assessment period i.e. 2019-2029.
The report suggests that the overall growth of the aluminum extrusions market in the various prominent regions of the world primarily rely on the GDP per capita of each region. Further, as the healthy economic status of a nation results in the rise of infrastructure development and urbanization, a high demand for aluminum extrusions was observed. The growing demand from the building & construction sector coupled with demand from machinery equipment and the automotive sector are some of the major factors that are tipped to boost the growth of the aluminum extrusions market in the upcoming years.
An analyst at Future Market Insights states," Although there is a growing demand for aluminum extrusions from the automotive and the machinery equipment sector, the building and construction industry is likely to remain the most prominent end use industry during the forecast. The economic development of regional markets in Asia-Pacific excluding Japan such as India and China is expected to create promising prospects for market growth in the foreseeable future."China Predicted to Dominate Market Value Share during the Forecast Period
As per the report published by Future Market Insights, with a market value share of ~60%, China is likely to be the most prominent market for aluminum extrusions during the study period. Some of the major factors that are playing an imperative role in the robust demand for aluminum extrusions in the region include, steady growth of the manufacturing sector in China and the country's staggering manufacturing output.
Further, in 2018, China accounted for around 30% of the global motor vehicle production and as the automotive sector is one of the major end user of aluminum extrusions, the demand for same is expected to increase at a rapid pace. In a nutshell, economic growth of China along with a thriving manufacturing industry have played a vital role in the overall growth of the aluminum extrusions market.Aluminum Extrusions Market: Vendor Insights
Future Market Insights in its published market study, offers critical insights pertaining to the leading market players operating in the aluminum extrusions market. Some of the leading market players include, Hindalco Industries, China Zhongwang Holdings Limited, Jindal Aluminum Limited, TALCO Aluminum Company, Bahrain Aluminum Extrusion Co. (Balexco), Qatar Aluminum Extrusion Company, Norinco International Cooperation Ltd., Sankyo Material Company, and more. The report includes well-curated company profiles of several leading market players which includes resourceful insights such as the market share, size, revenue growth, product offerings, and growth strategiesFor more insights into the Market, request a sample of this [email protected] https://www.futuremarketinsights.com/reports/sample/rep-gb-5463
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