Canada Aluminium Market

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Canada Aluminium Market by Product Type (Flat-Rolled, Castings, Extrusions, Forgings, Powder & Paste, and Other Types), by Type (Primary and Secondary), and by End-User Industry (Transport, Consumer Goods, Machinery & Equipment, Construction, Foil & Packaging, Electrical Engineering, and Others) – Opportunity Analysis and Industry Forecast, 2024–2030

Industry: Materials and Chemical | Publish Date: 01-Oct-2024 | No of Pages: 111 | No. of Tables: 78 | No. of Figures: 43 | Format: PDF | Report Code : MC1339

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Canada Aluminium Market Overview

Canada Aluminium Market size was valued at USD 9.59 billion in 2023, and is predicted to reach USD 13.77 billion by 2030, at a CAGR of 5.3% from 2024 to 2030.  
The aluminum market includes the industry involved in the production, distribution, and use of aluminum, a lightweight, silvery-white metal. Aluminum constitutes about 8% of the Earth's crust and is recognized for its low density, strength, and inherent corrosion resistance, which is provided by a natural oxide layer. These features make it highly useful in sectors such as aerospace, automotive, construction, packaging, and electronics. Its low weight is especially beneficial for improving efficiency in transportation. The production process involves extracting aluminum from bauxite ore using the Bayer process and electrolysis. Advances in technology and recycling have improved the environmental sustainability of production, supporting industry growth.

Rising Demand for Smelted Aluminum Boosts Market Growth

The rising demand for aluminum in smelting is significantly boosting the aluminum market. This increase is driven by the need for high-quality aluminum products across various sectors. Smelting involves extracting aluminum from bauxite ore using substantial amounts of energy, which necessitates the use of significant resources. Canada, with its vast reserves of bauxite and abundant hydroelectric power, provides an ideal environment for this process. As a result, Canada remains a leading producer of smelted aluminum in North America, with approximately 3 million metric tons produced in 2022, the highest in the region. The substantial output from Canadian smelters helps meet global demand and supports the growth of the aluminuim market.

 

Rising Aluminum Exports Drives the Growth of the Market

The increasing export of aluminum plays a crucial role in driving market growth. Canada's strong trade relationships and access to global markets, including the United States, Europe, and Asia, support this trend. The country exported around 31 million metric tons of aluminum in 2022, reflecting its significant presence in the global market. Favorable trade agreements and export policies facilitate this high level of aluminum export, contributing to the overall Canada aluminium market expansion of the aluminum industry.

 

Environmental and Regulatory Constraints Hinders the Growth of Aluminium Market

The aluminum market faces significant challenges due to environmental regulations and sustainability requirements. These include controls on emissions, waste management, and energy efficiency, that leads to higher operational costs for some producers. Complying with strict emissions standards, following waste management rules, and meeting energy consumption targets often Canada aluminium market demands substantial investments and efforts. While these measures are essential for fostering a greener and more sustainable industry, they also increase the overall costs and complexities of aluminum production.

Sustainable Packaging Creates Ample Future Opportunities

The growing focus on sustainable packaging is expected to provide growth opportunities for the aluminium market in the future. Aluminium is ideal for packaging applications such as cans, bottles, and foils due to its recyclability and ability to preserve product quality and freshness. Eco-conscious consumers and brands looking to reduce their environmental impact increasingly choose aluminium as a preferred packaging material. By selecting aluminium, they help reduce waste and support sustainability, aligning with their commitment to a greener future. This rising demand for sustainable packaging solutions is a key driver of the Canada aluminium market growth.

 

Competitive Landscape  

Several key players operating in Canada aluminium industry include Alcoa Corporation, Rio Tinto, Aluminerie Alouette Inc, Norsk Hydro ASA, Glencore, Novelis, Arconic, METRA S.p.A., Constellium, TriMetals Aluminium, and others.

Canada Aluminium Market Key Segments

By Product Type

  • Flat-Rolled

  • Castings
  • Extrusions
  • Forgings
  • Powder & Paste
  • Other Types        

By Type        

  • Primary
  • Secondary

By End-User Industry         

  • Transport
  • Consumer Goods
  • Machinery & Equipment
  • Construction
  • Foil & Packaging
  • Electrical Engineering
  • Others

Key Players

  • Alcoa Corporation
  • Rio Tinto
  • Aluminerie Alouette Inc
  • Norsk Hydro ASA
  • Glencore
  • Novelis
  • Arconic
  • METRA S.p.A.
  • Constellium
  • TriMetals Aluminium

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2023

USD 9.59 Billion

Revenue Forecast in 2030

USD 13.77 Billion

Growth Rate

CAGR of 5.3% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Billion (USD)

Growth Factors

  • The increasing demand for smelted aluminium drives the growth of the market.
  • The rising export of aluminium further fuels the growth of the market.

Companies Profiled

10

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

 

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Frequently Asked Questions

According to Next Move Strategy Consulting, Canada aluminium industry size reached USD 9.59 billion in 2023.

The key players operating in Canada aluminium market are Alcoa Corporation, Rio Tinto, Aluminerie Alouette Inc, Norsk Hydro ASA, Glencore, Novelis, Arconic, METRA S.p.A., Constellium, TriMetals Aluminium, and others.

According to the Next Move Strategy Consulting, the size of Canada aluminium market is estimated to reach USD 13.77 billion by 2030, at a CAGR of 5.3% from 2024 to 2030.

The environmental and regulatory constraints hinder Canada aluminium market.

Some of the end-user industries include construction, transport, consumer electronics, and others.

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