Extruded Aluminum in High Demand, Expected to Grow, Says Market Reports
According to a recent compilation from Research and Markets supported by a variety of other reports, extruded aluminum are on the upswing, which is great news for the aluminum industry. The primary force behind the projected growth is the automotive sector – in which aluminum –extruded products are desirable in the manufacturing of light-weight, high-strength products.
“The global market for extruded aluminum is projected to grow from USD 34.48 billion in 2016 to reach USD 47.61 billion by 2021, at an estimated CAGR of 6.67%.” Says the recent report. In addition to the auto industry, “the market for aluminum-extruded products is also being driven by the growing demand in industries such as construction, aerospace & defense, and mass transport in both, developed and developing countries.”
However, the quickest growing segment of extruded aluminum products are the mill-finished products. Their high performance in extreme conditions makes mill-finished products favorable in machinery and equipment, construction, and automotive.
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