Market by Product, Industry Vertical, and Country Outlook | Forecast 2023-2030
Triton Market Research’s report shows that the North America aluminum market will progress with a CAGR of 5.34% in the forecast years from 2023 to 2030.
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The countries evaluated in this region include:
• Canada
• The United States
The
United States is estimated to be the fastest-evolving country in the regional
market over the forecasted period. The rise
in the military & defense expenditure is anticipated to drive the aluminum
market’s growth in the region over the forecast period. Moreover, the
engineering & construction industry’s boom is also estimated to fuel the
market growth.
However, the availability
of other metals due to high costs is expected to hamper the market growth in North
America over the forecast period.
The United States is
one of the leading nations when it comes to defense and military spending. As
per data from the Stockholm International Peace Research Institute (SIPRI), investments
in military research and development by the US increased by 24% in the period
from 2012 to 2021. The use of aluminum for constructing ships and military
vehicles is anticipated to fuel the studied market’s growth in the country over
the forecasted period.
The packaging industry in
Canada is anticipated to grow with the use of flexible packaging techniques
across various sectors, including retail, pharmaceutical, and food & beverage.
The growing attention towards lowering harmful environmental impact is expected
to increase the use of aluminum in packaging owing to its non-toxic nature.
This, in turn, is expected to drive the market growth over the forecast period.
Aluminum’s unique
insulating properties make aluminum-based foils ideal for packaging. These foils
protect against light, liquid, and bacteria. Foils are largely used for packaging
food. Aluminum foils are non-toxic; and therefore protect the food wrapped in them.
Aluminum is also regarded as the ideal packaging material for beverages,
containers, and medications, such as pills, capsules, lotions, creams, and
liquid & powder medications.
The
studied report assesses the market according to product and industry vertical.
Here, the industry vertical segment comprises foil & packaging, automotive
& transportation, electronics, building & construction, and other
industry verticals.
The
prime contenders in the aluminum market include Century Aluminum Company,
Aluminum Corporation of China Limited (Chalco), Rio Tinto, Aluminum Bahrain BSC
(Alba), and Norsk Hydro ASA.
Founded in 1995, Century Aluminum Company is a renowned primary
aluminum producer. The company’s aluminum facilities manufacture standard-grade
as well as value-added primary aluminum products. The United States-based
company is headquartered in Chicago, Illinois. It has 3 aluminum smelters:
Hawesville and Robards (Kentucky) and Mt. Holly (South Carolina). Century
Aluminum reported a net income of $37.4 million for the Q2 of FY2022, an increase
of $19.7 from the preceding year. This rapid growth can be attributed to the surging
demand for aluminum products.
Key deliverables of the report:
·
Market
CAGR during the forecasting years 2022-2028
·
Detailed
data highlighting key insights, industry components, and market strategies
·
Comprehensive
information and estimation of the aluminum market revenue growth in North
America and its influence on the parent market
·
In-depth
study of forthcoming trends in consumer behavioral patterns
·
A
meticulous analysis of the competitive landscape, vendor scorecard, and
Porter’s Five Forces
·
A
wide-ranging study of factors that will challenge the North America aluminum
market’s growth during the upcoming years
Want to get specific insights? Our team of analysts
can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. NORTH
AMERICA ALUMINUM MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. COVID-19
IMPACT ON THE ALUMINUM MARKET
2.2. MARKET
MATURITY ANALYSIS
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. INDUSTRY
COMPONENTS
2.4.1. RAW
MATERIAL PROCUREMENT
2.4.2. ALUMINUM
PRODUCTION
2.4.3. END-USERS
2.5. REGULATORY
FRAMEWORK
2.6. KEY
BUYING IMPACT ANALYSIS
2.6.1. STRENGTH
OF PRODUCT
2.6.2. PRODUCT
RECYCLABILITY
2.6.3. CORROSION
RESISTANCE
2.7. KEY
MARKET STRATEGIES
2.7.1. COLLABORATIONS
2.7.2. PRODUCT
LAUNCHES
2.7.3. MERGERS
& ACQUISITIONS
2.7.4. BUSINESS
DIVESTITURES & EXPANSIONS
2.8. MARKET
DRIVERS
2.8.1. RISING
DEMAND FROM VARIOUS END-USE INDUSTRIES
2.8.2. SUBSTITUTION
OF STAINLESS STEEL WITH ALUMINUM BY AUTOMOTIVE MANUFACTURERS
2.8.3. RISING
ADOPTION OF ELECTRIC VEHICLES
2.9. MARKET
CHALLENGES
2.9.1. STRICT
ENVIRONMENTAL REGULATIONS BY AUTHORITIES
2.9.2. RISING
COST OF ALUMINUM
2.10. MARKET
OPPORTUNITIES
2.10.1. MULTIPLE
APPLICATIONS OF ALUMINUM IN THE SUSTAINABLE ENERGY INDUSTRY
2.10.2. TECHNOLOGICAL
ADVANCEMENTS
2.10.3. RECYCLABILITY
OF ALUMINUM GAINING MARKET TRACTION
2.10.4. GROWING
PENETRATION IN THE CONSUMER ELECTRONICS INDUSTRY
2.10.5. RISING
USE OF ALUMINUM IN THE TRANSPORTATION INDUSTRY
2.10.6. GROWING
POPULARITY OF ALUMINUM FOAM
2.11. ANALYST
PERSPECTIVE
3. NORTH
AMERICA ALUMINUM MARKET – BY PRODUCT
3.1. ALUMINA
3.2. BAUXITE
3.3. PRIMARY
ALUMINUM
3.4. OTHER
PRODUCTS
4. NORTH
AMERICA ALUMINUM MARKET – BY INDUSTRY VERTICAL
4.1. AUTOMOTIVE
& TRANSPORTATION
4.2. BUILDING
& CONSTRUCTION
4.3. ELECTRONICS
4.4. FOIL
& PACKAGING
4.5. OTHER
INDUSTRY VERTICALS
5. NORTH
AMERICA ALUMINUM MARKET – COUNTRY OUTLOOK
5.1. COUNTRY
ANALYSIS
5.1.1. UNITED
STATES
5.1.1.1. UNITED
STATES ALUMINUM MARKET FORECAST & PROSPECTS
5.1.2. CANADA
5.1.2.1. CANADA
ALUMINUM MARKET FORECAST & PROSPECTS
6. COMPETITIVE
LANDSCAPE
6.1. RIO
TINTO
6.1.1. OVERVIEW
6.1.2. PORTFOLIO
6.1.3. KEY
STRENGTHS
6.1.4. KEY
CHALLENGES
6.2. ALUMINUM
CORPORATION OF CHINA LIMITED (CHALCO)
6.2.1. OVERVIEW
6.2.2. PORTFOLIO
6.2.3. KEY
STRENGTHS
6.2.4. KEY
CHALLENGES
6.3. RUSAL
6.3.1. OVERVIEW
6.3.2. PORTFOLIO
6.3.3. KEY
STRENGTHS
6.3.4. KEY
CHALLENGES
6.4. ALCOA
CORPORATION
6.4.1. OVERVIEW
6.4.2. PORTFOLIO
6.4.3. KEY
STRENGTHS
6.4.4. KEY
CHALLENGES
6.5. NORSK
HYDRO ASA
6.5.1. OVERVIEW
6.5.2. PORTFOLIO
6.5.3. KEY
STRENGTHS
6.5.4. KEY
CHALLENGES
6.6. EMIRATES
NORTH AMERICA ALUMINUM PJSC
6.6.1. OVERVIEW
6.6.2. PORTFOLIO
6.6.3. KEY
STRENGTHS
6.6.4. KEY
CHALLENGES
6.7. NOVELIS
INC
6.7.1. OVERVIEW
6.7.2. PORTFOLIO
6.7.3. KEY
STRENGTHS
6.7.4. KEY
CHALLENGES
6.8. ALUMINUM
BAHRAIN BSC (ALBA)
6.8.1. OVERVIEW
6.8.2. PORTFOLIO
6.8.3. KEY
STRENGTHS
6.8.4. KEY
CHALLENGES
6.9. CHINA
HONGQIAO GROUP LIMITED
6.9.1. OVERVIEW
6.9.2. PORTFOLIO
6.9.3. KEY
STRENGTHS
6.9.4. KEY
CHALLENGES
6.10. CENTURY
ALUMINUM COMPANY
6.10.1. OVERVIEW
6.10.2. PORTFOLIO
6.10.3. KEY
STRENGTHS
6.10.4. KEY
CHALLENGES
7. RESEARCH
METHODOLOGY & SCOPE
7.1. RESEARCH
SCOPE & DELIVERABLES
7.2. SOURCES
OF DATA
7.3. RESEARCH
METHODOLOGY
TABLE 1: NORTH AMERICA
ALUMINUM MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 2: REGULATORY
FRAMEWORK
TABLE 3: LIST OF
COLLABORATIONS
TABLE 4: LIST OF
PRODUCT LAUNCHES
TABLE 5: LIST OF
MERGERS & ACQUISITIONS
TABLE 6: LIST OF
BUSINESS DIVESTITURES & EXPANSIONS
TABLE 7: NORTH AMERICA
ALUMINUM MARKET, BY PRODUCT, 2023-2030 (IN $ MILLION)
TABLE 8: NORTH AMERICA
ALUMINUM MARKET, BY INDUSTRY VERTICAL, 2023-2030 (IN $ MILLION)
TABLE 9: NORTH
AMERICA ALUMINUM MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
FIGURE 1: INDUSTRY
COMPONENTS
FIGURE 2: KEY BUYING
IMPACT ANALYSIS
FIGURE 3: NORTH AMERICA
ALUMINUM MARKET, BY PRODUCT, 2022 & 2030 (IN %)
FIGURE 4: NORTH AMERICA
ALUMINUM MARKET, BY ALUMINA, 2023-2030 (IN $ MILLION)
FIGURE 5: NORTH AMERICA
ALUMINUM MARKET, BY BAUXITE, 2023-2030 (IN $ MILLION)
FIGURE 6: NORTH AMERICA
ALUMINUM MARKET, BY PRIMARY ALUMINUM, 2023-2030 (IN $ MILLION)
FIGURE 7: NORTH AMERICA
ALUMINUM MARKET, BY OTHER PRODUCTS, 2023-2030 (IN $ MILLION)
FIGURE 8: NORTH AMERICA
ALUMINUM MARKET, BY INDUSTRY VERTICAL, 2022 & 2030 (IN %)
FIGURE 9: NORTH AMERICA
ALUMINUM MARKET, BY AUTOMOTIVE & TRANSPORTATION, 2023-2030 (IN $ MILLION)
FIGURE 10: NORTH
AMERICA ALUMINUM MARKET, BY BUILDING & CONSTRUCTION, 2023-2030 (IN $
MILLION)
FIGURE 11: NORTH
AMERICA ALUMINUM MARKET, BY ELECTRONICS, 2023-2030 (IN $ MILLION)
FIGURE 12: NORTH
AMERICA ALUMINUM MARKET, BY FOIL & PACKAGING, 2023-2030 (IN $ MILLION)
FIGURE 13: NORTH
AMERICA ALUMINUM MARKET, BY OTHER INDUSTRY VERTICALS, 2023-2030 (IN $ MILLION)
FIGURE 14: NORTH
AMERICA ALUMINUM MARKET, COUNTRY OUTLOOK, 2022 & 2030 (IN %)
FIGURE 15: UNITED
STATES ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 16: CANADA
ALUMINUM MARKET 2023-2030 (IN $ MILLION)