A research study conducted by Future Market Insights forecasts significant growth in the United States and Canada alumina market, with demand expected to reach a valuation of US$ 3,324.8 million by 2022 and soar to US$ 5,491.3 million by 2032. The surge in demand is attributed to robust domestic needs for defense and military equipment, including tanker pumps, naval vessel components, and munitions hoist components. This projection underscores the region’s steady expansion in the alumina sector, driven primarily by its defense and military industries.
Aluminum is considered to be the primary raw material for a wide range of industries, especially for automotive, aerospace, and defense sectors. During World Wars I and II, about 90% of USA aluminum production went into defense and military uses. The metal remains essential to several components of modern warfare and owing to this, there is a high demand for alumina for the production of aluminum.
The ongoing Russia-Ukraine war would create a new growth opportunity for key players for the manufacturing of military and defense weapons as the USA is a leading supplier of weapons to Ukraine. There will hence be huge demand for aluminum production across the country. Canada’s aluminum production is mainly exported to the USA and it is projected to further create a lucrative opportunity for alumina production in the United States and Canada during the assessment period.
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Key Takeaways from the United States and Canada Alumina Market Study
- Based on application, the aluminum production segment is projected to generate a share of around 1% in the United States and Canada alumina market by 2032.
- Canada is a prominent importer of alumina with an estimated import volume of 6,225 kilotons.
- Central Canada and South United States are likely to together capture about 2% of the alumina market share.
- The United States and Canada alumina market is estimated to witness a CAGR of around 1% on the basis of value.
- The United States and Canada alumina industry is estimated to reach a valuation of US$ 5,491.3 million in 2032.
“Increasing demand for electronic components and home appliances such as laptops, refrigerators, television panels, smartphones, and washing machines is projected to drive sales of alumina across the United States and Canada. Key electronics manufacturers are set to use aluminum for manufacturing their in-house products to maintain cost-effectiveness and offer high performance,” says a lead analyst at Future Market Insights.
Competitive Landscape: United States and Canada Alumina Market
The market for alumina across the USA and Canada is set to be a consolidated industry, where key players are anticipated to hold a prominent share. Few of the renowned manufacturers in the market include REFRACTRON TECHNOLOGIES CORP., USA Electrofused Minerals, Inc., Washington Mills North Grafton, Inc., Great Lakes Minerals, LLC, Calix Ceramic Solutions, Illinois Valley Minerals (IVM), Cer-Met, Inc., Aluchem of Little Rock and Metal Exchange Corporation., and Nature Works LLC among others.
Key players are focusing on expanding their production capacities to improve their geographic footprint all over the globe, as well as to compete with their rivals. Few of the key companies are aiming to invest huge sums in alumina production backed by a significant surge in terms of demand from the automotive and defense industries.
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Alumina Market Segmentation
By Grade:
- Metallurgical Grade
- Refractory Grade
- Grinding Grade
- Others
By Application:
- Aluminium Production
- Abrasives
- Ceramics
- Refractories
- Others
- Air Treatment
By Country:
- USA
- Canada
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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