Canada: Aluminium Market 2024

Aluminium Market Size in Canada

In 2022, the Canadian aluminium market increased by 5% to $X, rising for the fourth consecutive year after three years of decline. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Aluminium Production in Canada

In value terms, aluminium production declined slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 9.3% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Aluminium Exports

Exports from Canada

Aluminium exports from Canada was estimated at X tons in 2022, leveling off at 2021. The total export volume increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 37% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, aluminium exports surged to $X in 2022. In general, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +67.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for aluminium exports from Canada, with a 98% share of total exports. It was followed by the Netherlands (X tons), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +4.6%.

In value terms, the United States ($X) remains the key foreign market for aluminum (unwrought, not alloyed) exports from Canada, comprising 98% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 1.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +8.8%.

Export Prices by Country

The average aluminium export price stood at $X per ton in 2022, growing by 15% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium export price increased by +82.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 58%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.0%).

Aluminium Imports

Imports into Canada

In 2022, imports of aluminum (unwrought, not alloyed) into Canada expanded markedly to X tons, with an increase of 13% against the previous year. In general, imports posted a slight increase. The pace of growth was the most pronounced in 2020 with an increase of 165% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, aluminium imports soared to $X in 2022. Overall, imports showed a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 122%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

The United States (X tons), Bahrain (X tons) and Qatar (X tons) were the main suppliers of aluminium imports to Canada, with a combined 88% share of total imports. Australia and Brazil lagged somewhat behind, together accounting for a further 7.4%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +349.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Bahrain ($X) and Qatar ($X) constituted the largest aluminium suppliers to Canada, with a combined 88% share of total imports. Australia and Brazil lagged somewhat behind, together comprising a further 4.8%.

Among the main suppliers, Australia, with a CAGR of +298.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average aluminium import price stood at $X per ton in 2022, growing by 11% against the previous year. In general, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium import price increased by +71.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 56% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+35.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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