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.

Aluminum is a lightweight, nonmagnetic, soft, and ductile metal. It is the third most abundant element found in the earths crust but is seldom found uncombined in nature. It is usually extracted from minerals such as cryolite and bauxite. It forms a reflective coating when evaporated in vacuum, which is utilized to manufacture telescope mirrors, packaging, and toys. It is used in the production of variety of products such as foils, window frames, kitchen utensils, airplane parts, beer kegs, and others.

Based on end-use industry, the transportation segment emerged as a regional leader in 2015. Average amount of aluminum used in the vehicle production has reached 100 kg, which significantly drives the consumption rate for aluminum. The transportation industry dominated the North America region with the growth in production and sales of vehicle.
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The North America aluminum market is witnessing healthy growth over the past few years and it is expected to grow significantly during the forecast period. This is due to the development of the transport industry and technological advancements in product manufacturing technologies, processing equipment, and alloy development over decades. In addition, increase in applications across various end-user industries due to its specific properties over other metals such as dampness and corrosion resistance. However, increase in competition from substitutes such as composites is expected to hamper the market growth. On the contrary, increase in use of recycled aluminum products is anticipated to offer lucrative growth opportunities to the market players.

The North America aluminum market is segmented based on processing method, end-user industry, and country. Based on processing method, the market is classified into flat rolled, castings, castings, extrusions, forgings, pigments & powder, and rod & bars. Based on end-user industry, it 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 Mexico.
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.

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Author's Bio: 

I am Srushti. My keen interest in reading and writing. I forayed into the field of writing due to my love for words and the urge to do something different. I have been a part of the content resource team here in Allied Market Research. We have a dedicated team for content development wherein, we coordinate with the Market Analysts and create a precise content. I am personally involved in writing content for user engagement. I owe a responsibility to make sure the content is rich and user-centric. Allied Market Research has given me the chance to gain knowledge about different subjects.