North America Aluminum Market Forecast 2022-2030

North America Aluminum Market Forecast 2022-2030KEY FINDINGS

The North America aluminum market is anticipated to grow with a 4.45% CAGR during the forecasted period of 2022 to 2030. Some of the key factors fueling the market growth of the region include the renewed interest in technology from engineering as well as construction companies to acquire swifter access to new digital solutions, in addition to the rise in military and defense expenditure.

MARKET INSIGHTS

The North America aluminum market growth evaluation constitutes the assessment of Canada and the United States. Canada’s transportation and automotive industry largely relies on various aluminum alloys in order to produce a number of components. This is primarily accredited to the outstanding properties of aluminum, including its durability and lightweight. Since these aspects help decrease the automobile’s weight, the rate of greenhouse gas emissions and fuel consumption is reduced, as well.

On the other hand, the majority of global vehicle manufacturers are present in Canada. These include Ford, Honda, General Motors, Toyota, and various others. Aligning with this, according to the International Trade Administration (ITA), the market penetration for electric vehicles was the highest in Quebec, with 46% of electric vehicles registered in Canada. Subsequently, the multiple applications of aluminum in such end-use sectors are anticipated to bolster the demand for aluminum over the upcoming years. Hence, these factors are set to provide the North America aluminum market with lucrative growth opportunities during the forecasted period.

COMPETITIVE INSIGHTS

Alcoa Corporation, Novelis Inc, etc., are among the top companies operating in the market.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments