North America Aluminum Market Overview:
Aluminum is the third largest metal available across the globe. It is known for lightweight and its ability to resist corrosion. Aluminum is a mineral mined from bauxite and cryolite. Aluminum alloys are formed using oxides and sulfates, which are highly adopted across various industries including building & construction and automotive marine & defense. In addition, aluminum is used to manufacture an array of products, such as window frames, kitchen utensils, foils, airplane parts, beer kegs, and others
The North America aluminum market accounted for $12,076.0 million in 2015 and is anticipated to reach $17,995.6 million by 2023, registering a CAGR of 5.1% from 2015 to 2023. Growth in the transport industry and technological advancements in aluminum manufacturing technologies and processing equipment are the major factors that drive the growth of the North America aluminum market. The rapid increase in applications in various end-user industries such as construction and packaging further fuel the market growth. Increase in competition from substitutes such as carbon fiber and fluctuation in prices of raw materials restrain the market growth. However, the rise in demand for recycled aluminum products is expected to provide potential growth opportunities for the industry.
The North America aluminum market is segmented based on the processing method, end-use industries, and countries. Based on the processing method, the market is classified into flat-rolled, castings, extrusions, forgings, pigments & powder, and rod & bar. Based on end-use industry, the market is divided into transport, building & construction, electrical engineering, consumer goods, foil & packaging, machinery & equipment, and others. Based on the country, it is analyzed across the U.S. and Canada.
The major key players operating in the North America Aluminum market include Alcoa, Norsk Hydro, Rio Tinto Alcan, Arconic, Century Aluminum, Novelis, Access Industries, United Company RUSAL, Kaisar Aluminum, and JW Aluminum, and others. The other player includes United Aluminum, GYFORDPRODUCTIONS, LLC, ALUMINERIE ALOUETTE INC., Extrudex Aluminum, and Almag Aluminum.
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Key Benefits for North America Aluminum Market:
Porter’s five forces analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building
This report outlines the current trends and future scenario of the aluminum market from 2015 to 2023 to understand the prevailing opportunities and potential investment pockets
Major countries in each region are mapped according to their individual revenue contribution to the global/regional market
The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study
The profiles of the key players along with their key strategic developments are enlisted in the report
North America Aluminum key Market Segments:
By Processing Method
Pigments & Powder
Rod & Bar
By End-use Industry
Building & Construction
Foil & Packaging
Machinery & Equipment
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