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Automotive Aluminum Extrusion Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 90 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4987238
UP TO OFF until Sep 30th 2023
The automotive aluminum extrusion market was valued at USD 32.05 billion in 2021, and it is expected to reach USD 64.11 billion by 2027, registering a CAGR of around 10.55% during the Forecasts period (2022-2027).

The COVID-19 pandemic created various disruptions in the automotive aluminum extrusion market due to factory shutdowns and trade restrictions. These disruptions were caused due to lockdowns imposed by various governments worldwide to contain the spread of the virus. In addition, the decline in metal production due to a drop in demand and lack of workforce under widespread lockdown had a major influence on the market.

However, the market is expected to regain its momentum during the Forecasts period, as manufacturers in the automotive aluminum extrusion market have resumed full operations in countries with a limited number of COVID-19 cases. Moreover, manufacturers are adopting contingency plans to address future business uncertainty to maintain continuity with customers that are a part of essential sectors in the automotive industry.

New aluminum alloys with thermal deformation suit lightweight applications. The increase in demand for electric vehicles requiring high aluminum extruded products can favor the market. Growing R&D in extrusion equipment is contributing to the growth of the automotive aluminum extrusion market.

Manufacturers should take cues from the Constellium University Technology Center at Brunel University London to develop one-of-its-kind extrusion equipment, which deploys rapid prototyping of automotive components. The Asia-Pacific region is anticipated to hold the largest market share due to major manufacturing sectors in China, India, Vietnam, Japan, and South Korea.

Key Market Trends

Electric Vehicles to Propel the Market's Growth

Aluminum is gaining popularity as the fastest-growing automotive material. Electric vehicles (EVs) are driving the automotive aluminum extrusion market. The growing use of aluminum in chassis applications, vehicle closure parts, and body-in-white parts is boosting the market’s growth. As such, automakers are adapting to new mobility standards, which may have a positive impact on the growth of aluminum in the EV sector.

Many manufacturers and aluminum extrusion part suppliers are innovating products in this field. For instance,
  • Constellium NV developed a novel cold-plate technology for efficient cooling of battery modules in EVs. The novel bent extrusion corner design is developed with no space wastage, no chips from drilling, and only a small degree of deformation.
  • Tesla-designed Model S uses a four-inch-deep aluminum box running throughout the length of the car for the battery pack support, which, when joined with the aluminum body structure, becomes three times stronger.
In general, EVs use aluminum and aluminum extrusions to improve fuel economy (in PHEVs) and provide better range (in BEVs), safety, and overall driving aesthetics. Extrusions can commonly be found in space frames, doors, hoods, hang-on parts, trunk lids, bumpers, crash boxes, bodies in white, and car bodies, among other components.

The high thermal conductivity of an aluminum extrusion part deems it an excellent option for removing heat from the vehicle. Alloy strength and extrusion profile also play a critical role when considering EV crash management.

Asia-Pacific and Europe to Play a Significant Role in the Market

Asia-Pacific and Europe are projected to be highly lucrative markets, followed by North America, during the Forecasts period, primarily due to the presence of a prominent automotive industry in China, Germany, Japan, and India. The rising demand for electric vehicles across Asia-Pacific is likely to boost the automotive aluminum extrusion market in the region.

The surging demand for electric vehicles due to stringent emission norms across Asia-Pacific is likely to propel the aluminum extrusion market across the region. In addition, the growing demand for different commodities required as battery enclosures and structural components in electric vehicles can fuel the rise of the regional market.

Europe has the presence of major OEMs and tier-1 suppliers with advanced R&D facilities, which is anticipated to boost the automotive aluminum extrusion market across the region. The enforcement of strict regulations on vehicular and greenhouse gas emissions can contribute to the market’s growth.

North America is also anticipated to play a significant role in developing the automotive aluminum extrusion market, with the United States holding the majority market share in the region. The growth in the region can be attributed to the implementation of Corporate Average Fuel Economy (CAFE) standards in the region.

Competitive Landscape

The automotive aluminum extrusion market is moderately consolidated. The market is characterized by the presence of considerably large players that have tie-ups with major automotive manufacturers. The companies are entering strategic partnerships, acquisitions, and product developments to expand their brand portfolios.

Some of the important players in the market include Novelis Inc., Constellium NV, Norsk Hydro ASA, Kaiser Aluminum, and Kobelco Aluminum Products & Extrusions Inc.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1 Type
5.1.1 Body Structure
5.1.2 Interiors
5.1.3 Exteriors
5.1.4 Other Types
5.2 Application
5.2.1 Cars
5.2.2 Pickup Trucks
5.2.3 Class 8 Trucks
5.2.4 Electric Vehicles
5.3 Geography
5.3.1 North America United States Canada Rest of North America
5.3.2 Europe Germany United Kingdom France Spain Rest of Europe
5.3.3 Asia-Pacific India China Japan South Korea Rest of Asia-Pacific
5.3.4 Rest of the World South America Middle-East and Africa
6.1 Vendor Market Share
6.2 Company Profiles *
6.2.1 Constellium SE
6.2.2 Norsk Hydro ASA
6.2.3 Novelis Inc.
6.2.4 Kobelco Aluminum Products & Extrusions Inc.
6.2.5 Bonnell Aluminum Extrusion Company
6.2.6 Kaiser Aluminum Corp.
6.2.7 Innoval Technology
6.2.8 SMS Schimmer
6.2.9 Omnimax International
6.2.10 Walter Klein GmbH & Co. KG
6.2.11 BENTELER International

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Constellium SE
  • Norsk Hydro ASA
  • Novelis Inc.
  • Kobelco Aluminum Products & Extrusions Inc.
  • Bonnell Aluminum Extrusion Company
  • Kaiser Aluminum Corp.
  • Innoval Technology
  • SMS Schimmer
  • Omnimax International
  • Walter Klein GmbH & Co. KG
  • BENTELER International