North America Aluminum Market Overview:
Aluminum is the third largest metal available across the globe. It is known for light weight and its ability to resist corrosion. Aluminum is a mineral mined from bauxite and cryolite. Aluminum alloys are formed using oxides and sulfates, which are highly adopted across various industries including building & construction and automotive marine & defense. In addition, aluminum is used to manufacture array of products, such as window frames, kitchen utensils, foils, airplane parts, beer kegs, and others
The North America aluminum market accounted for $12,076.0 million in 2015 and is anticipated to reach $17,995.6 million by 2023, registering a CAGR of 5.1% from 2015 to 2023. Growth in transport industry and technological advancements in aluminum manufacturing technologies and processing equipment are the major factors that drive the growth of the North America aluminum market. Rapid increase in applications in various end-user industries such as construction and packaging further fuel the market growth. Increase in competition from substitutes such as carbon fiber and fluctuation in prices of raw materials restrain the market growth. However, rise in demand for recycled aluminum products is expected to provide potential growth opportunities for the industry.
The North America aluminum market is segmented based on processing method, end use industries, and countries. Based on processing method, the market is classified into flat rolled, castings, extrusions, forgings, pigments & powder, and rod & bar. Based on end-use industry, the market is divided into transport, building & construction, electrical engineering, consumer goods, foil & packaging, machinery & equipment, and others. Based on country, it is analyzed across U.S. and Canada.
The major key players operating in the North America Aluminum market include Alcoa, Norsk Hydro, Rio Tinto Alcan, Arconic, Century Aluminum, Novelis, Access Industries, United Company RUSAL, Kaisar Aluminum, and JW Aluminum, and others. The other player includes United Aluminum, GYFORDPRODUCTIONS, LLC, ALUMINERIE ALOUETTE INC., Extrudex Aluminum, and Almag Aluminum.
Key Benefits for North America Aluminum Market:
Porter’s five forces analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building
This report outlines the current trends and future scenario of the aluminum market from 2015 to 2023 to understand the prevailing opportunities and potential investment pockets
Major countries in each region are mapped according to their individual revenue contribution to the global/regional market
The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study
The profiles of the key players along with their key strategic developments are enlisted in the report
North America Aluminumkey Market Segments:
By Processing Method
Flat Rolled
Castings
Extrusions
Forgings
Pigments & Powder
Rod & Bar
By End-use Industry
Transport
Building & Construction
Electrical Engineering
Consumer Goods
Foil & Packaging
Machinery & Equipment
Others
By Region
North America
U.S.
Mexico
The North America aluminum market accounted for $12,076.0 million in 2015 and is anticipated to reach $17,995.6 million by 2023, registering a CAGR of 5.1% from 2015 to 2023. Growth in transport industry and technological advancements in aluminum manufacturing technologies and processing equipment are the major factors that drive the growth of the North America aluminum market. Rapid increase in applications in various end-user industries such as construction and packaging further fuel the market growth. Increase in competition from substitutes such as carbon fiber and fluctuation in prices of raw materials restrain the market growth. However, rise in demand for recycled aluminum products is expected to provide potential growth opportunities for the industry.
The North America aluminum market is segmented based on processing method, end use industries, and countries. Based on processing method, the market is classified into flat rolled, castings, extrusions, forgings, pigments & powder, and rod & bar. Based on end-use industry, the market is divided into transport, building & construction, electrical engineering, consumer goods, foil & packaging, machinery & equipment, and others. Based on country, it is analyzed across U.S. and Canada.
The major key players operating in the North America Aluminum market include Alcoa, Norsk Hydro, Rio Tinto Alcan, Arconic, Century Aluminum, Novelis, Access Industries, United Company RUSAL, Kaisar Aluminum, and JW Aluminum, and others. The other player includes United Aluminum, GYFORDPRODUCTIONS, LLC, ALUMINERIE ALOUETTE INC., Extrudex Aluminum, and Almag Aluminum.
Key Benefits for North America Aluminum Market:
Porter’s five forces analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building
This report outlines the current trends and future scenario of the aluminum market from 2015 to 2023 to understand the prevailing opportunities and potential investment pockets
Major countries in each region are mapped according to their individual revenue contribution to the global/regional market
The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study
The profiles of the key players along with their key strategic developments are enlisted in the report
North America Aluminumkey Market Segments:
By Processing Method
Flat Rolled
Castings
Extrusions
Forgings
Pigments & Powder
Rod & Bar
By End-use Industry
Transport
Building & Construction
Electrical Engineering
Consumer Goods
Foil & Packaging
Machinery & Equipment
Others
By Region
North America
U.S.
Mexico
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: NORTH AMERICA ALUMINUM MARKET, BY PROCESSING METHOD
CHAPTER 5: NORTH AMERICA ALUMINUM, BY END-USER INDUSTRY
CHAPTER 6: NORTH AMERICA ALUMINUM MARKET, BY COUNTRY
CHAPTER 7: COMPANY PROFILES
List Of Tables
List Of Figures
Executive Summary
According to a new report titled, North America Aluminum Market, by processing method and end-use industry: Opportunity Analysis and Industry Forecast, 20152023, The North America aluminum market was valued at $12,076.0 million in 2015 and is projected to reach $17,995.6 million by 2023, growing at a CAGR of 5.1% from 2016 to 2023. The transport segment dominated the market in 2015, with around one-third share, in terms of revenue.Aluminum is a nonmagnetic and ductile metal with a dull luster due to thin aluminum oxide coating. Low metal density, corrosion resistance, and thermal conductivity are some properties, which makes it ideal for various industrial applications. Growth in transport industry is the major factor that drives the growth of the aluminum market across the globe. In addition, technological advancements and rapid development & urbanization in the emerging economies and growth in aluminum demand from various end-user industries such as foil & packaging supplement the market growth. Modern manufacturers are enhancing the design of aluminum cans to make the cans more hygienic. An overall increase in the production capacity by key leaders and high degree of vertical integration are observed in the industry. Manufacturers integrate their value chain to gain control over supply chain and offer aluminum products to end-use industries at reduced costs. Food and Drug Administration (FDA), American Society for Testing and Materials (ASTM), International Organization for Standardization (ISO) and Environment Protection Agency (EPA) are some of the regulatory authorities present in the aluminum market. Fluctuation in prices of raw materials, stringent government regulations toward usage of energy, and increase in substitutes such as carbon fiber hinder the growth of the aluminum market. However, rise in demand for recycled aluminum products and growth in usage of aluminum in emerging economies provide lucrative opportunities for market expansion.
In 2015, the transport segment accounted for close to one-third share of the market, in terms of volume. Aluminum products are extensively used in the transport industry due to their performance, weight to strength ratio, thermal conductivity, corrosion resistance, safety, and environment benefits. North American automotive manufacturers plan to increase the usage of aluminum in light trucks and cars by over 40% by 2025. Aluminum engine mounts, tailgate frames, running boards, and roof consoles are corrosion resistant and are more resilient in vehicle crashes due to their flexibility and inherent strength. Studies have confirmed that use of aluminum in motor industry reduces CO2 emissions.
Extrusions segment holds the largest share, in terms of revenue and is expected to grow at a CAGR of 4.8%. Aluminum extrusions offer lightweight and durability to patio furniture, sports equipment, and others. Flexible and low-cost extrusion tooling allows manufacturers to experiment with new applications and designs.
The prominent market players are Alcoa, Norsk Hydro, Rio Tinto Alcan, Arconic, Century Aluminum, Novelis, Access Industries, United Company RUSAL, Kaisar Aluminum, and JW Aluminum and others. The other player includes United Aluminum, GYFORDPRODUCTIONS, LLC, ALUMINERIE ALOUETTE INC., Extrudex Aluminum, and Almag Aluminum.
Key Findings OF THE STUDY
Based on processing method, the flat rolled segment accounted for 29.4% regional share, in terms of value
Based on end-use industry, the transportation segment dominated the North America market with 31.9% regional market share in 2015 in terms of value
By country, U.S. is predicted to be the dominant over the forecast period, in terms of both volume and revenue
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
