The global MEA Aluminum Extrusion market size is expected to be worth around US$ 2.61 billion by 2027, according to a new report by Vision Research Reports.
The global MEA Aluminum Extrusion market size was valued at US$ 2.04 billion in 2019 and is anticipated to grow at a CAGR of 3.2% during forecast period 2020 to 2027.
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MEA Aluminum Extrusion Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2020-2027 – Breakdown Data by Regions, Type, Manufacturers and Applications
Growth Factors
The growth in the building and construction industry coupled with expanding automotive production in the region is expected to augment market growth during the forecast period.
Automotive and transportation is amongst the fastest-growing segments of the market. is used in the automobile industry for various applications such as door instruction beams, rear subframes, seat cross members, steering/suspension/brake components, front bumper beams, stiffeners, longitudinal, and others. The wide range of applications adds to a significant reduction in the weight of the vehicle.
The growth of the segment is owing to increasing vehicle production in the region. For instance, in June 2019, PSA Group, French car manufacturer, began production at its Kenitra plant in Morocco, for which the agreement was signed in June 2015. The production capacity of the plant is over 200 thousand vehicles per annum. In March 2019, Nissan Motor announced its plan to double its production in Africa with its new auto assembly plant in Ghana by 2022. Such investments are likely to propel aluminum extrusion demand over the forecast period.
The increasing demand for aluminum extrusion in the region has propelled major players to invest and expand production. For example, in October 2018, Hydro Extruded Solutions announced its plan to support the increasing demand from automotive and transportation and architecture markets in North Africa by investing in two new aluminum extrusion presses. The investment is expected to be worth USD 100 million.
Report Highlights
The shapes was the largest segment and accounted for more than 80.01% revenue share of the Middle East and Africa aluminum extrusion market in 2019. Shapes are the extruded profiles that are used in manufacturing various parts and components for appliances, construction, computer, automotive and transportation, and architectural industries. The most commonly used shapes are angles, channels, and tubing. The dimensions of these shapes vary from component to component depending upon the application.
Building and construction held the largest revenue share of more than 72.01% of the market in 2019. The share is owing to several applications of aluminum extrusion in the industry, such as primary and secondary doors and windows, curtain walls, storefronts, awnings and canopies, housing units, bridges, and even streets and highways. Rising infrastructural developments in the region demand customized shapes, profiles, structural columns, and other extruded products.
UAE held the largest share and accounted for over 40.01% of the market revenue in 2019. The share can be attributed to the presence of various automotive plants and phenomenal growth in the building and construction industry (in both residential and commercial sectors). Moreover, the UAE is home to several key extruders of the market along with the presence of raw material producers, which is likely to boost the market growth in the country.
The aluminum sector is one of the significant sectors in the UAE as it contributes largely to the GDP and gives employment to many in the country. For instance, as of 2017, the aluminum sector contributed USD 5.44 billion to the UAE economy, where every dollar generated by the sector supported an additional generation of USD 1.26 elsewhere in the economy.
Key Players
- Alupco
- Gulf Extrusions Co. LLC
- Taweelah Aluminum Extrusion Co. (TALEX) LLC
- National Aluminum Products Company SAOG (NAPCO)
- Balexco BAHRAIN ALUMINIUM EXTRUSION COMPANY
- Emirates Extrusion Factory LLC
Market Segmentation
- Application Outlook
- Building & Construction
- Automotive & Transportation
- Consumer Goods
- Electrical & Energy
- Others
- Product Outlook
- Shapes
- Rods & Bars
- Pipes & Tubes
- Country Outlook
- Saudi Arabia
- UAE
- Oman
- Qatar
- Bahrain
- Kuwait
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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