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 : MC1342
The U.S. Aluminium Market size was valued at USD 12.47 billion in 2023, and is predicted to reach USD 17.13 billion by 2030, at a CAGR of 4.6% from 2024 to 2030. The aluminum sector includes the industry involved in the production, distribution, and use of aluminum, a lightweight, silvery-white metal.
Aluminum makes up around 8% of the Earth's crust and is noted for its low density, strength, and natural corrosion resistance due to an 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.
The rising demand for aluminum in the U.S. region across industries such as automotive, aerospace, construction, and packaging is a key factor driving the aluminum market. This growing need for aluminum-based products, including vehicles, aircraft, infrastructure projects, and consumer goods, has led to substantial imports of aluminum to meet domestic requirements. In 2022, the U.S. imported approximately 66 million metric tons of aluminum, the highest volume among countries in the region, according to the International Trade Administration.
The U.S. is undergoing a notable shift towards renewable energy sources and the adoption of electric vehicles (EVs). Aluminum plays a key role in renewable energy infrastructure because it is lightweight, strong, and resistant to corrosion. It is used in solar panels, wind turbines, and transmission lines.
As solar energy use grows, so does the demand for aluminum in solar panel frames and mounting systems. Additionally, the increase in electric vehicles, driven by consumer demand and government incentives, is raising the need for aluminum in EVs to reduce weight and improve energy efficiency. This shift towards renewable energy and electric vehicles is significantly boosting the U.S. aluminium market.
The U.S. aluminium market expansion is challenged by environmental regulations and sustainability requirements, including emissions control, waste management, and energy efficiency targets, that increases operational costs for some producers. Meeting strict emissions standards, adhering to waste management rules, and achieving energy consumption goals often require significant investments and efforts to reduce the environmental impact of aluminum production. These sustainability measures, while crucial for creating a greener and more sustainable industry, also add to the overall costs and complexities of aluminum production.
The growing focus on sustainable packaging is expected to provide significant growth opportunities for the U.S. aluminium market trends 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 growth in the aluminium market.
Several market players operating in the U.S. aluminium industry include Kaiser Aluminum, Century Aluminum, JW Aluminum, Novelis, Tri-Arrows Aluminum, Logan Aluminum, Norsk Hydro ASA, Alcoa Corporation, Arconic, United Company RUSAL Plc., and others.
Flat-Rolled
Castings
Extrusions
Forgings
Powder & Paste
Other Types
Primary
Secondary
Transport
Consumer Goods
Machinery & Equipment
Construction
Foil & Packaging
Electrical Engineering
Others
Kaiser Aluminum
Century Aluminum
JW Aluminum
Novelis
Tri-Arrows Aluminum
Logan Aluminum
Norsk Hydro ASA
Alcoa Corporation
Arconic
United Company RUSAL Plc
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 12.47 Billion |
Revenue Forecast in 2030 |
USD 17.13 Billion |
Growth Rate |
CAGR of 4.6% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
|
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. |