North America Aluminium Market by Product Type (Flat-Rolled, Castings, Extrusions, Forgings, Powder & Paste, Other Types), by Type (Primary and Secondary), by End User Industry (Transport, Consumer Goods, Machinery & Equipment, Construction, Foil and Packaging, Electrical Engineering, Others) – Opportunity Analysis and Industry Forecast 2024–2030
North America Aluminium Market was valued at USD 25.92 billion in 2023, and is predicted to reach USD 38.71 billion by 2030, with a CAGR of 5.2% from 2024 to 2030.
In the United States, the demand for aluminium stems from the automotive, aerospace, construction, and packaging industries. Importing significant volumes of aluminium is necessary to meet the requirements of aluminium-intensive products such as vehicles, aircraft, infrastructure projects, and consumer goods. The country's focus on renewable energy sources, including solar energy, and the growing adoption of electric vehicles also contribute to the market growth, as aluminium finds extensive use in renewable energy infrastructure.
However, the aluminium industry is affected by environmental regulations and sustainability requirements such as emissions control, waste management, and energy efficiency targets, which can increase operational costs and pose challenges for some producers. Compliance with stringent emissions standards, waste management regulations, and energy consumption targets can require significant investments and efforts to reduce the environmental impact of aluminium production. These sustainability measures aim to minimize emissions, promote responsible waste management, and encourage energy efficiency. While these regulations are essential to promote a greener and more sustainable industry, they can add to the overall costs and complexities of aluminium production.
On the other hand, the increasing emphasis on sustainable packaging is expected to create ample growth opportunities for the market in the future. Aluminium is well-suited for applications such as cans, bottles, and foils, benefiting from its recyclability and ability to maintain product quality and freshness. Eco-conscious consumers and brands seeking to minimize their environmental impact prefer aluminium as a preferred choice. By opting for aluminium packaging, they reduce waste and promote sustainability, aligning with their commitment to a greener future. This growing demand for sustainable packaging solutions drives the growth of the aluminium market.
Segment Overview
Regional Analysis
The U.S. Holds the Dominant Market Share in the North American Market
The growing demand for aluminium from industries such as automotive, aerospace, construction, and packaging are driving the aluminium market in the country. The need for aluminium-intensive products and applications, such as vehicles, aircraft, infrastructure projects, and consumer goods, leads to significant aluminium imports to meet domestic demands. According to the International Trade Administration, the US imported around 66 million metric tonnes of aluminium in 2022, the highest of any country in the region.
Key Market Players
The key players in the North America Aluminium market research include companies such as:
• Aluminium Corporation of China Limited (CHALCO)
• Hindalco Industries Ltd.
• Norsk Hydro ASA
• China Hongqiao Group Limited
• United Company RUSAL PLC
• Rio Tinto
• East Hope Group Company Limited
• Xinfa Group Co., Ltd.
• Alcoa Corporation
• Arconic Inc.
• Emirates Global Aluminium PJSC
• Vedanta Aluminium and Power
• Ma’aden
• South32
• Century Aluminium Company
KEY BENEFITS
Companies Mentioned
• Aluminium Corporation of China Limited (CHALCO)
• Hindalco Industries Ltd.
• Norsk Hydro ASA
• China Hongqiao Group Limited
• United Company RUSAL PLC
• Rio Tinto
• East Hope Group Company Limited
• Xinfa Group Co., Ltd.
• Alcoa Corporation
• Arconic Inc.
• Emirates Global Aluminium PJSC
• Vedanta Aluminium and Power
• Ma’aden
• South32
• Century Aluminium Company
