Northern America: Aluminum Market 2024

Aluminum Market Size in Northern America

The North American aluminum market skyrocketed to $X in 2021, jumping by 41% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Aluminum Production in Northern America

In value terms, aluminum production skyrocketed to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 45%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Aluminum Exports

Exports in Northern America

In 2021, the amount of aluminum exported in Northern America fell slightly to X tons, dropping by -1.8% against 2020. The total export volume increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 10%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, aluminum exports surged to $X in 2021. The total export value increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada was the main exporting country with an export of around X tons, which amounted to 86% of total exports. It was distantly followed by the United States (X tons), making up a 14% share of total exports.

Canada was also the fastest-growing in terms of the aluminum exports, with a CAGR of +1.6% from 2012 to 2021. The United States (-1.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Canada increased by +3.9 percentage points.

In value terms, Canada ($X) remains the largest aluminum supplier in Northern America, comprising 87% of total exports. The second position in the ranking was taken by the United States ($X), with a 13% share of total exports.

In Canada, aluminum exports expanded at an average annual rate of +4.5% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, jumping by 51% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.8%).

Aluminum Imports

Imports in Northern America

In 2021, after three years of decline, there was significant growth in overseas purchases of aluminum, when their volume increased by 13% to X tons. Total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.0% against 2017 indices. The pace of growth appeared the most rapid in 2016 with an increase of 27%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, aluminum imports soared to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States prevails in imports structure, accounting for X tons, which was approx. 96% of total imports in 2021. Canada (X tons) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the aluminum imports, with a CAGR of +3.6% from 2012 to 2021. At the same time, Canada (+2.5%) displayed positive paces of growth. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported aluminum in Northern America, comprising 96% of total imports. The second position in the ranking was held by Canada ($X), with a 3.7% share of total imports.

In the United States, aluminum imports increased at an average annual rate of +5.9% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, growing by 48% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.2%).

Source: IndexBox Platform

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