North America Aluminum Market Report Description:
North America Aluminum market report gives comprehensive outlook on aluminum across the region with special emphasis on key countries such as U.S and Canada. The report on North America aluminum market gives historical, current, and future market sizes (US$ Mn) on the basis of product, type, application and countries. This report studies North America aluminum market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, North America aluminum market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed North America aluminum market to better equip clients with possible investment opportunities across the countries (countries Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the North America aluminum market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in North America aluminum products.
North America Aluminum Market:
The North America Aluminum market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Some of the key factors responsible for the market growth include rise in North America economic growth rate, continuous advancements in transport industry, ongoing R&D activities to develop innovative and growing automobile industry. Moreover, an increase in net aluminum pounds per vehicle is one of the major trends being witnessed in this market.
Increase in Demand for High-performance Materials in Construction Industry
The booming construction sector in countries will positively impact the market. Aluminum is engaged in the construction industry owing to its performance properties such as high reflectivity, design, high strength-to-weight ratio, durability, flexibility, and low maintenance. They are generally used in structural components of a building during its construction. In the development of infrastructure such as flyovers and bridges besides commercial and residential buildings aluminum alloys are used due to their properties such as lightness of weight and high corrosion resistance.
Presence of Alternatives in Diverse Applications of Aluminum is Hampering the Market
The easy accessibility of numerous alternatives for aluminum is one major challenge challenging the North America market. Some of the few materials that can substitute aluminum in the packaging industry are plastic, glass and paper. These substitutes are extensively used in the transportation, construction, packaging and electrical and electronic industries among others. Hence, presence of substitutes may pose a threat to the market growth.
U.S Accounts for Larger Market Revenue Share in North America Aluminum Market
U.S accounted for larger revenue share in North America aluminum market with considerable CAGR which can be attributed to existence of recognized end-use industries such as building & construction and transportation. Likewise, the U.S. is likely to continue its dominance during the estimated period due to growth in investment by key players in the aluminum production expansion to provide to the rise in demand.
Key player’s profiles in the North America Aluminum market include:
- Alcoa Corporation (U.S.)
- Aluminum Bahrain (Bahrain)
- Aluminum Corporation of China (China)
- BHP Billiton Aluminum Australia Pty Ltd. (Australia)
- Century Aluminum Company (U.S.)
- China Hongqiao Group (China)
- Emirates North America Aluminum PJSC (UAE)
- Hindalco Industries Limited (India)
- Norsk Hydro ASA (Norway)
- Rio Tinto Alcan Inc. (Canada)
- Rio Tinto Australia (Australia)
- RUSAL (Russia)
- Vedanta Ltd. (India)
North America aluminum market is surging owing to frequent acquisitions and launchings by the market players. For instance, Alcoa together with Rio Tinto announced world’s first carbon-free aluminum smelting process. This is a revolutionary smelting process that can deliver a significant reduction in carbon emissions. It builds on the key role aluminium has to play in driving human progress, by making products infinitely recyclable, stronger, lighter and more fuel efficient.
Key Findings of the Report:
- North America aluminum market expanding at significant CAGR over 2019 to 2025 owing to growing automobile industry.
- Based on application, foil & packaging segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in North America Aluminum market
- Specialty Fibers
- Flat Rolled
- Building Sheet
- Can Body Stock
- Common Alloy
- Foil Stock
- Pigment & Powder
- Rod & Bar
- Wires & Cables
- Aluminum Conductors
- Secondary/Recycled Aluminum
- Primary Aluminum
- Building & Construction
- Consumer Goods
- Foil & Packaging
- Hardware & Accessories
- Machinery & Equipment
- Solar Industry
- North America
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market