MEA Aluminum Extrusion Market Strong Application and Emerging Trends also Scope by 2028: Grand View Research Inc.

 MEA Aluminum Extrusion Market Growth & Trends

The MEA aluminum extrusion market size is expected to reach USD 2.23 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.0% over the forecast period. The demand for aluminum extrusion products in UAE and Saudi Arabia is expected to drive market growth over the long term.

The building & construction sector dominated the overall market with a volume share of 73.8% in 2020. In terms of volume, the UAE aluminum industry is estimated to grow at a CAGR of 1.9% over the forecast period. The UAE is a lucrative construction market, which offers attractive propositions for global investors. In addition, the emergence of the country as one of the financial hubs of the world further prompted the growth of the construction sector in the country. The market in the country is dominated by Dubai and Abu Dhabi.

In terms of volume, the electrical & energy segment depicts high growth and penetration in 2020. The growth is attributable to the upcoming renewable energy projects, which are being constructed to reduce carbon dioxide emissions in the region. The construction of solar and wind energy farms is anticipated to accelerate the demand for aluminum extrusion in the MEA region over the forecast period.

Qatar is a developing country in the region with potential growth for the market. The manufacturers in the country are increasing their customer base by adopting strategic initiatives, such as mergers & acquisitions. For example, in November 2020, Qatar Aluminum Extrusion acquired Abdul Noor Aluminum Extrusion factory. The acquisition increased Qatar Aluminum Extrusions’ production capacity to 30 kilotons per annum.

The implementation of large-scale infrastructure projects associated with the 2022 FIFA World Cup played a significant role in driving the demand for aluminum extruded products in Qatar. However, the FIFA-related investments have slowed down since 2018 following a rapid boom from 2011 until 2018. The slowdown is majorly caused by the emergence of coronavirus and slugging economic growth since the latter half of FY 2019.

Request a free sample copy or view report summary: MEA Aluminum Extrusion Market Report

MEA Aluminum Extrusion Market Report Highlights

• The building & construction application was the largest segment, in terms of volume as well as revenue. The focus of various governments in MEA to improve their country’s infrastructure is projected to assist the segment growth
• In terms of revenue, the automotive & transportation is expected to grow at the second-fastest CAGR of 4.3% from 2021 to 2028 due to increasing focus on the development of lightweight vehicles and rising aluminum content in vehicles
• The rods & bars segment is expected to register the second-fastest CAGR over the forecast period. The demand in electrical transmission lines and upcoming energy projects are projected to boost the segment growth
• The UAE was the largest regional market, in terms of volume as well as revenue, and is expected to continue its dominance over the forecast period due to rapid expansion of the building & construction and automotive industries in the country
• The market is fragmented due to the presence of several small- and medium-sized companies. Rising focus on R&D along with eco-friendly manufacturing plants is expected to provide a competitive edge to some of the companies

Access Press Release@ https://www.grandviewresearch.com/press-release/middle-east-africa-aluminum-extrusion-market-analysis

MEA Aluminum Extrusion Market Segmentation

Grand View Research has segmented the MEA aluminum extrusion market on the basis of product, application, and region:

MEA Aluminum Extrusion Product Outlook(Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Shapes
• Rods & Bars
• Pipes & Tubes

MEA Aluminum Extrusion Application Outlook(Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Building & Construction
• Automotive & Transportation
• Consumer Goods
• Electrical & Energy
• Others

MEA Aluminum Extrusion Regional Outlook(Volume, Kilotons; Revenue, USD Million, 2017 - 2028)

• Saudi Arabia
• UAE
• Oman
• Qatar
• Bahrain
• Kuwait

List of Key Players of MEA Aluminum Extrusion Market

• Alupco
• Gulf Extrusions Co. LLC
• Taweelah Aluminium Extrusion Co. (TALEX) LLC
• National Aluminium Products Company SAOG (NAPCO)
• Balexco Bahrain Aluminium Extrusion Company
• Elite Extrusion LLC

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.