The North America aluminum market is predicted to rise with a 4.45% CAGR over the forecasted years of 2022 to 2030, acquiring a revenue share of $20848.45 million by 2030.

NORTH AMERICA ALUMINUM MARKET FORECAST 2022-2030

North America Aluminum Market by Product Type (Primary Aluminum, Alumina, Bauxite, Other Products) Market by End-user (Building and Construction, Automotive & Transportation, Electronics, Foil & Packaging, Other End-users) by Geography

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The North America aluminum market is predicted to rise with a 4.45% CAGR over the forecasted years of 2022 to 2030, acquiring a revenue share of $20848.45 million by 2030.

The market growth of the region is primarily attributable to the rise in military and defense expenditure as well as renewed interest in technology from engineering and construction companies in order to gain swifter access to new digital solutions. However, the North America aluminum market growth may be restrained by the increase in competition from substrates, such as composites.

North America Aluminum Market

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The North America aluminum market growth assessment comprises the study of the United States and Canada. As one of the most powerful economies globally, the United States possesses a significant market for infrastructure construction. Noteworthy construction projects in the nation include a mini-mill in Arkansas, expected to be completed in 2024, as well as the construction of a mixed-use complex in the state of Texas, which aims to offer enhanced residential, commercial, and parking facilities. Moreover, other projects, such as the Atlas Power Data Center in North Dakota, are also expected to contribute to the growing demand for aluminum in the United States. Hence, the rapidly evolving infrastructural development in the country is anticipated to fuel the need for aluminum, given its high strength-to-weight ratio, thus propelling the market growth in the United States.

Conversely, with a production rate of approximately 3.12 million tonnes of primary aluminum in the year 2020, Canada is one of the largest primary aluminum manufacturers in the world. According to the Government of Canada, aluminum producers in the country have also established one of the lowest carbon footprints worldwide, as compared to other manufacturers. As a result, these factors are projected to fuel the aluminum market growth in North America during the forecasted years.

The North America aluminum market is segmented into product type and end-user. The product type segment includes primary aluminum, alumina, bauxite, and other products (flat rolled and extrusions). Primary aluminum is the aluminum produced directly from mined ore and tapped from electrolytic cells during aluminum oxide’s electrolytic reduction. Moreover, around 2 tonnes of alumina is required to manufacture about 1 tonne of aluminum, produced in the form of T-bars and small ingots.

Primary aluminum has several alloys and can be easily transformed into various shapes. For instance, while the ingots can be used to manufacture sheets, pipes, and other products, they can also be smelted into billets and subsequently extruded into a shaped product. These may include electronic cases or window frames. On account of its recyclability as well as strength, aluminum can enter the secondary manufacturing process and be reformed for diverse products and purposes each time.

Some of the top firms operating in the North America aluminum market include Alcoa Corporation, Novelis Inc, etc.

Alcoa Corporation, headquartered in the United States, is one of the top companies involved in the production of low-carbon alumina, bauxite, and aluminum products with the aim of developing the aluminum industry for a sustainable future. In addition, the company’s primary aluminum manufacturing stood at 2.2 million metric tons in the year 2021. The company’s geographical presence spans the Netherlands, Canada, Australia, Brazil, and others.

EcoSource, the company’s smelter-grade alumina, possesses a carbon footprint that is two times lower compared to the industry average.

Report Synopsis

Report Scope

Details
Market Forecast Years2022-2030
Base Year2021
Market Historical Years2018-2021
Forecast UnitsRevenue ($ Million)
Segments AnalyzedProduct Type and End-User
Countries AnalyzedThe United States and Canada
Companies Analyzed

Rio Tinto, Aluminum Corporation of China Ltd (CHALCO), United Company Rusal Plc, Alcoa Corporation, Norsk Hydro ASA, Emirates Global Aluminum PJSC, Novelis Inc, Aluminum Bahrain BSC (ALBA), China Hongqiao Group Limited, Century Aluminum Company, UACJ Corporation, Constellium SE, China Zhongwang Holdings Limited, Hindalco Industries Ltd, Reliance Steel & Aluminum Co

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • GROWING DEMAND FROM END-USERS
        • RISING SUBSTITUTION OF STAINLESS STEEL WITH ALUMINUM BY AUTOMOTIVE MANUFACTURERS
        • INCREASING ELECTRIC VEHICLES PRODUCTION
      • KEY RESTRAINTS
        • STRINGENT ENVIRONMENTAL REGULATIONS
        • RISING PRICES OF ALUMINUM
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON ALUMINUM MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • VALUE CHAIN ANALYSIS
        • RAW MATERIAL PROCUREMENT
        • ALUMINUM PRODUCTION
        • END-USER
      • KEY BUYING CRITERIA
        • STRENGTH
        • RECYCLABILITY
        • CORROSION RESISTANCE
      • REGULATORY FRAMEWORK
    2. MARKET BY PRODUCT TYPE
      • PRIMARY ALUMINUM
      • ALUMINA
      • BAUXITE
      • OTHER PRODUCTS (FLAT ROLLED AND EXTRUSIONS)
    3. MARKET BY END-USER
      • BUILDING AND CONSTRUCTION
      • AUTOMOTIVE & TRANSPORTATION
      • ELECTRONICS
      • FOIL & PACKAGING
      • OTHER END-USERS
    4. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • ALCOA CORPORATION
        • ALUMINUM BAHRAIN BSC (ALBA)
        • ALUMINUM CORPORATION OF CHINA LTD (CHALCO)
        • CENTURY ALUMINUM COMPANY
        • CHINA HONGQIAO GROUP LIMITED
        • CHINA ZHONGWANG HOLDINGS LIMTED
        • CONSTELLIUM SE
        • EMIRATES GLOBAL ALUMINUM PJSC
        • HINDALCO INDUSTRIES LTD
        • NORSK HYDRO ASA
        • NOVELIS INC
        • RELIANCE STEEL & ALUMINUM CO
        • RIO TINTO
        • UACJ CORPORATION
        • UNITED COMPANY RUSAL PLC

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – ALUMINUM MARKET

    TABLE 2: REGULATORY FRAMEWORK

    TABLE 3: NORTH AMERICA ALUMINUM MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 4: NORTH AMERICA ALUMINUM MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 5: NORTH AMERICA ALUMINUM MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 6: NORTH AMERICA ALUMINUM MARKET, BY END-USER, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 7: NORTH AMERICA ALUMINUM MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 8: NORTH AMERICA ALUMINUM MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 9: LEADING PLAYERS OPERATING IN NORTH AMERICA ALUMINUM MARKET

    TABLE 10: LIST OF MERGERS & ACQUISITIONS

    TABLE 11: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 12: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 13: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: VALUE CHAIN ANALYSIS

    FIGURE 6: KEY BUYING CRITERIA

    FIGURE 7: NORTH AMERICA ALUMINUM MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2021

    FIGURE 8: NORTH AMERICA ALUMINUM MARKET, BY PRIMARY ALUMINUM, 2022-2030 (IN $ MILLION)

    FIGURE 9: NORTH AMERICA ALUMINUM MARKET, BY ALUMINA, 2022-2030 (IN $ MILLION)

    FIGURE 10: NORTH AMERICA ALUMINUM MARKET, BY BAUXITE, 2022-2030 (IN $ MILLION)

    FIGURE 11: NORTH AMERICA ALUMINUM MARKET, BY OTHER PRODUCTS (FLAT ROLLED AND EXTRUSIONS), 2022-2030 (IN $ MILLION)

    FIGURE 12: NORTH AMERICA ALUMINUM MARKET, GROWTH POTENTIAL, BY END-USER, IN 2021

    FIGURE 13: NORTH AMERICA ALUMINUM MARKET, BY BUILDING AND CONSTRUCTION, 2022-2030 (IN $ MILLION)

    FIGURE 14: NORTH AMERICA ALUMINUM MARKET, BY AUTOMOTIVE & TRANSPORTATION, 2022-2030 (IN $ MILLION)

    FIGURE 15: NORTH AMERICA ALUMINUM MARKET, BY ELECTRONICS, 2022-2030 (IN $ MILLION)

    FIGURE 16: NORTH AMERICA ALUMINUM MARKET, BY FOIL & PACKAGING, 2022-2030 (IN $ MILLION)

    FIGURE 17: NORTH AMERICA ALUMINUM MARKET, BY OTHER END-USERS, 2022-2030 (IN $ MILLION)

    FIGURE 18: NORTH AMERICA ALUMINUM MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 19: UNITED STATES ALUMINUM MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 20: CANADA ALUMINUM MARKET, 2022-2030 (IN $ MILLION)       

    1. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED STATES
          • CANADA
    1. MARKET BY PRODUCT TYPE
      • PRIMARY ALUMINUM
      • ALUMINA
      • BAUXITE
      • OTHER PRODUCTS (FLAT ROLLED AND EXTRUSIONS)
    2. MARKET BY END-USER
      • BUILDING AND CONSTRUCTION
      • AUTOMOTIVE & TRANSPORTATION
      • ELECTRONICS
      • FOIL & PACKAGING
      • OTHER END-USERS

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