Aluminum building, construction sector growing 6% annually to 2020
The increased use of aluminum in building envelopes is significantly boosting growth in the global aluminum market for building and construction, according to a new report. In fact, the sector is expected to grow annually by 6.31 percent between 2016-20, researchers found.
The 2016 global aluminum market for building and construction sector report by RnR Market Research, points specifically to the use of building integrated photovoltaics (BIPV) systems, which is considered a green initiative.
BIPV are aluminum-framed photovoltaic systems used in facades and roofs of buildings. In BIPV systems, a thin solar cell is integrated into flat roofs made of polymer roofing membrane. Instead of conventional construction materials, they are used as a source of energy in buildings and help reduce the overall cost of construction.
Aluminum facades can be installed on old buildings, giving them a new look, as well as a functional advantage as these materials help in generating renewable energy.
The report also says a key growth driver is the increase in automation of building systems. Building automation improves the efficiency of building systems by reducing energy consumption, improving the lifecycle of utilities and enhancing occupant comfort. Aluminum extrusions are used for manufacturing building profile systems as fine, value-added solutions.
The products are increasingly used in the form of windows, doors, facades and sliding doors in modern highrise buildings, commercial buildings and hotels.
Aluminum profiles are gaining market share due to their slim structure, durability and negligible maintenance cost. Unlike steel, aluminum products do not have insulation limitations; thus, desirable insulation value can be attained with these profiles.
The growth in global aluminum market for building and construction sector can be credited to the rise in concerns about a green environment. Aluminum is the preferred material for construction, as it is a vital component of sustainable buildings, the report says.
Aluminum projects qualify for green building status under Leadership in Energy and Environmental Design (LEED) standards. Furthermore, aluminum composite panels are easily recyclable and retain properties during the recycling process.
During 2015, the aluminum market for the building and construction sector in APAC was around 10 million metric tons and is expected to grow at an annual rate of around 7 percent during the forecast period.
By 2020, global aluminum extrusions market for the building and construction sector will account for almost 74 percent of the overall market share to continue its dominance as the key revenue generator, the report says. Aluminum extruded products are used in windows and doors, curtain walls, elevator shafts and lighting fixtures. Aluminum extrusions are preferred over other materials for their lead time and cost. For instance, extrusion dies are five times less expensive than die casting products, injection molding dies and rolled products.
The following companies are listed as key players in the global aluminum market for building and construction sector: Alcoa, Constellium, Gulf Extrusions, Hindalco Industries, Novelis, Sapa, RUSAL. Other prominent vendors in the market are: Altaiseer Aluminum, ALUPCO, Bahrain Atomizer International, Balexco, Hulamin Extrusions and TALCO.
Topics: Architectural Firms, Automation and Controls, Building Owners and Managers, Construction Firms, Consulting - Green & Sustainable Strategies and Solutions, Energy Saving Products, Engineering Firms, Exteriors, Great Commercial Buildings, Highrise Residential, Sustainable Communities, Technology, Thermal Envelope - Building Envelope, Urban Planning and Design