Global Aluminum Extrusion Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A key trend which is positively impacting the market is the use of aluminum in building integrated photovoltaic (BIPV). BIPVs are used in generating renewable energy. These are photovoltaic materials used in parts of building envelopes such as facades and roofs. Aluminum extrusions are used in BIPV systems. These BIPVs are used as a source of energy in buildings instead of conventional construction materials. These help in reducing the cost of material and labor and are considered as green initiatives.
According to the report, a key growth driver is the growing construction market. Developing countries have experienced a rise in per capita income levels. An increase in urbanization and rising consumer confidence is contributing to the rise in the number of construction projects. With a steady change in lifestyle and need for housing, the demand for aluminum extrusion is increasing. World's urban population will rise by more than 70% by 2050. There is an increase in demand for infrastructure development, residential, and non-residential projects. The global construction market is expected to reach approximately $12 trillion by 2020. Aluminum extrusion is used for building and construction applications such as in windows, panels, windows frames, ladders, and bridges.
Further, the report states that one challenge that could restrict market growth is the changing trade policies in China.
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