Aluminum is a type of sustainable and energy-efficient metal. It is often considered a recyclable metal. Easy availability of aluminum over other metals and its cost effectiveness increases its applicability over vast fields; one of the most prominent use has been noticed in the building and construction industry.
Aluminum has been increasingly used in construction and certain other industries. Aluminum composite panels are easily recyclable and the metal does not lose its properties during the recycling process. Aluminum profiles are gaining high popularity owing to their slim structure, high durability, and negligible maintenance cost. Aluminum profiles are easy to install and they offer superior performance. Moreover, they have design flexibility, which enhances their use in several operations. Real estate manufacturers with lower budget for construction prefer the use of aluminum as a roofing material and for other housing structures. With growing share of industries in advanced and emerging economies, this metal has rising application in factories and warehouses. This factor drives the aluminum market for building & construction.
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However, in certain cases, aluminum can be more expensive as compared to steel. This hinders the growth of the aluminum market for building & construction.
Aluminum is lighter as compared to other metals and this raises its application in the construction sector. The metal is largely used in hilly areas, wherein low-cost construction is a major concern for the government. Rising concerns about providing eco-friendly buildings increase the use of aluminum in the construction industry. This market is expected to witness growing demand as nanomaterial composite panels have extensive application in different end users segment. These panels are coated with aluminum particles that not only provide resistance to extreme weather conditions, but also resist air-borne pollution.
With the rising concerns about sustainable environment, demand for aluminum in the real estate industry is expected to increase during the forecast period. These nanomaterial-based aluminum panels can repel dust during rains and they do not require any specific cleaning mechanism. These types of composite panels are able to retain their color and gloss for a long period of time, as they are not adversely affected by harmful UV rays. These metals require lower cost of maintenance and this factor raises their use in the building & construction industry during the forecast period.
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The aluminum market for building & construction has been segmented on the basis of product type into extrusion, flat-rolled products, casting & powder products, and flake & paste products. The extrusion segment has held the maximum market share in recent years, and is expected to retain its market dominance during the forecast period. Extruded aluminum materials are extensively used in windows, doors, skylights and photovoltaic panel frames, sliding and hinged doors, sunshades, and light shelves. They are more cost-efficient as compared to casting and flat-rolled products. This factor is likely to drive the extrusion segment during the forecast period.
On the basis of geography, the aluminum market for building & construction has been segmented into five regions viz. North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. Asia Pacific holds a major share of the market. The region is expected to be the rapidly expanding market during the forecast period. China is witnessing high population growth and this increases the demand for aluminum in the real estate industry in the country. Moreover, India experiences higher economic growth coupled with higher spending on infrastructural development. This drives the aluminum market for building & construction in the country.
Some of the key players in the global aluminum market for building & construction are Constellium, Novelis, Alcoa, Gulf Extrusions, and Hindalco Industries.