The automotive industry's focus on lightweighting and emission reduction is driving the demand for aluminum extruded parts. Aluminum's properties, such as low density, corrosion resistance, and recyclability, make it ideal for enhancing fuel efficiency and aligning with sustainability goals.

The global automotive aluminum extruded parts market is expected to be valued at US$ 61,522.6 million in 2024. It is expected to grow at a CAGR of 6%. As of the year 2034, this industry is projected to reach a market value of US$ 110,231.3 million.

The industry is seeing significant growth because of the need for lighter and more fuel-efficient cars. Since car manufacturers aim to comply with strict emission controls, aluminum extruded components present a good alternative to minimize overall vehicle weight.

These components, including body panels, structural components, and heat exchangers, improve performance and fuel efficiency. Moreover, the corrosion resistance and strength of aluminum make it a desirable option for automotive applications.

The increasing use of electric vehicles also affects the market, with aluminum extrusions playing a part in realizing improved range and efficiency. As manufacturing processes and materials continue to advance, the market is set for further growth, with the industry's focus on sustainability and innovation.

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Key Takeaways from Market Study:

• Global market projected to grow from US$ 61.6 billion in 2024 to US$ 110.2 billion by 2034, at a CAGR of 6%.
• North America market expected to expand at a CAGR of 5% through 2034.
• United States holds a market share of 85.1% in 2024.
• China's industry projected to rise at a CAGR of 6.9% through 2034.
• Light commercial vehicles segment to hold a market share of 34.5% in 2024.
• 6000 series aluminum extruded parts segment expected to grow at a CAGR of 6.6% from 2024 to 2034.
• Automotive industry's focus on light weighting and fuel efficiency drives demand for aluminum extruded parts.
• Rising adoption of electric vehicles boosts demand for lightweight aluminum components.
• Aluminum's corrosion resistance and durability enhance its appeal in automotive applications.

Leading Players Driving Innovation in the Automotive Aluminum Extruded Parts Market:

Novelis Inc.; Benteler International; Bonnell Aluminum Extrusion Company; CAPALEX; Constellium SE; Kaiser Aluminium Corp.; Kobe Steel Ltd.; Norsk Hydro ASA; Omnimax International; ProfilGruppen Extrusions AB; SMS Schimmer.

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Country-wise Insights:

The United States is emerging as a significant player in the automotive aluminum extruded parts market, driven by a strong emphasis on fuel efficiency and emission reduction. In 2024, the market value in the U.S. is estimated at US$ 12,950.5 million, with a projected growth rate of 4.8% CAGR from 2024 to 2034. By 2034, the market is expected to reach US$ 20,790.5 million. This growth is fueled by stringent environmental regulations and increasing consumer demand for eco-friendly vehicles, prompting automakers to adopt lightweight materials like aluminum extrusions to enhance vehicle efficiency. This strategic shift aligns with the national sustainability drive, positioning the United States as a key contributor to the expanding automotive aluminum extruded parts market.

Category-wise Insights:

The increasing preference for extruded parts in automotive applications is driving significant growth in the adoption of the 6000 series aluminum extrusions. In 2024, the market value for this segment is estimated at US$ 16,188.3 million, with a projected 6.6% CAGR from 2024 to 2034, reaching US$ 30,754.5 million by the end of the forecast period. The 6000 series is gaining traction due to its optimal balance of strength, formability, and corrosion resistance, making it a preferred choice for various automotive components. As manufacturers seek materials that provide both durability and workability, the 6000 series aluminium extrusions continue to play a crucial role in the overall expansion of the automotive aluminium extruded parts market.

Recent Developments:

• In August 2022, Norsk Hydro ASA (Hydro) announced a NOK 300 million investment in a state-of-the-art car extrusion press at its Tonder, Denmark plant. This massive investment strengthens Hydro's production capability and supports the production of heavier cross-section extrusions, keeping pace with the changing needs of the automobile sector.
• Etem Gestamp announced in March 2022 that it intends to invest 60 million euros in expanding production of electric vehicle parts in Bulgaria. The increasing use of electric cars also has an impact on the market, with aluminum extrusions playing a part in realizing improved range and efficiency. With continuous improvements in manufacturing technologies and materials, the market is set to keep growing due to the industry's focus on sustainability and innovation.

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