North America Aluminum Market by Processing Industry (Flat Rolled, Castings, Extrusions, Forgings, Pigments & Powder and Rod & Bar); By End-Users (Transport, Building & Construction, Electrical Engineering, Consumer Goods, Foil & Packaging, Machinery & Equipment’s and Others); By Region (US, Mexico and Rest of North America)- Analysis of market share, size & trends for 2016-19 and forecasts to 2030.
Aluminum is a softened, light-weight, silvery-white, malleable, and ductile metal, mainly used in aircraft. It has a wide variety of applications due to its unique characteristics like it is not dangerous or harmful metal, a non-inflammable, non-dangerous, corrosion-proof, good conductor of heat & electricity and other characteristics. In a wide range of items such as bottles, foils, cooking utensils, window frames, telescope mirrors, decorative paper, containers, toys, and airplane pieces, aluminum is being used.
North America Aluminum Market is anticipated to exceed USD 18,907.8 million by 2030 from USD 12,716 million in 2019 at a CAGR of 4.79% throughout the forecast period, i.e., 2019-30. The North America Aluminum Market is estimated to grow on the back of the following reasons.
North America Aluminum Market: Segments
Rising demand for Extrusion aluminum products
North America Aluminum Market is segmented by processing industry into flat rolled, castings, extrusions, forgings, pigments & powder and rod & bar. The extrusion segment held the maximum share in 2019 and is anticipated to grow at highest CAGR during the forecast period. In industrial applications especially in the building, plant and equipment market, as well as consumer products, extrusion aluminum goods have an elevated requirement. The increase in the sales of aluminum extrusion products in North America therefore contributes to higher demand. Moreover, flexible and cost-effective extraction tools allow manufacturers to experiment with new technologies and concepts.
North America Aluminum Market: Market Dynamics
Increasing Demand for consumer electronics
The use of aluminum in mobile-phones, laptops, computers, LED televisions, screeners and other consumer electronic goods has become a widespread phenomenon. As per a report, the number of mobile users in the United States is projected to increase from 269.44million in 2019 to 310.23million in 2030.
Threat from Close substitutes
Strong competition from substitute materials is anticipated to impede the growth of the demand for aluminum over the forecast period, i.e., 2019-2030. The aluminum market continues to face difficulties as a result of varying prices of raw materials and the threat of substitute products materials like glass & plastic, while demand for aluminum is expected to increase significantly due to strong demand from the automobile, construction, and manufacturing industries.
North America Aluminum Market: Regions
United States to grow at the highest CAGR during the forecast period
North America Aluminum Market is segmented on the basis of regional analysis into three major regions. These include United States, Mexico and Rest of North America. Geographically, United States held a major market share of XX% in 2019 and is likely to dominate the market during the forecast period due to concentration of end-users in the region like major players of transportation industry. Moreover, increasing investments by key players is likely to boost the market growth.
North America Aluminum Market is further segmented by region into:
United States Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
Mexico Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
Rest of North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
Key Product Offerings
Key Performance Indicators
· Norsk Hydro
· Almag Aluminum
· Extrudex Aluminum
· Rio Tinto Alcan
· Kaisar Aluminum
· United Company RUSAL
· JW Aluminum
North America Aluminum Market Report also contains an analysis on:
· North America Aluminum Market by segment:
· By Processing Method
o Flat Rolled
o Pigments & Powder
o Rod & Bar
· By End-Users
o Building & Construction
o Electrical Engineering
o Consumer Goods
o Foil & Packaging
o Machinery & Equipment
· By Region
o Rest of North America
· North America Aluminum Market Size
· North America Aluminum Market Dynamics
· Supply and Demand
· Current Issues/trends/challenges
· Competition and Companies Involved in the Market
· Value Chain of the Market
· Market Drivers and Restraints