NEWARK, DE / ACCESSWIRE / January 17, 2023 / According to a research study conducted by Future Market Insights on the United States and Canada alumina market, demand for alumina is to reach a valuation of US$ 3,324.8 million by 2022. Robust domestic demand for defense and military equipment, tanker pumps, naval vessel components, and munitions hoist components is projected to drive growth in the United States and Canada alumina market. The market is estimated to be valued at US$ 5,491.3 million in 2032.
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.
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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.
Key Takeaways from United States and Canada Alumina Market Study
- Based on application, the aluminum production segment is projected to generate a share of around 91.1% 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 46.2% of the alumina market share.
- The United States and Canada alumina market is estimated to witness a CAGR of around 5.1% 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.
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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.
United States and Canada Alumina Market Outlook by Category
By Grade:
- Metallurgical Grade
- Refractory Grade
- Grinding Grade
- Others
By Application:
- Aluminum Production
- Abrasives
- Ceramics
- Refractories
- Others
By Country:
- United States
- Canada
More Insights into the USA and Canada Alumina Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the United States and Canada alumina market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032.
To understand the United States and Canada market potential, growth, and scope, the market is segmented based on grade (metallurgical grade, refractory grade, grinding grade), application (aluminum production, abrasives, ceramics, refractories), and region.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
Complete TOC with Report Preview: https://www.futuremarketinsights.com/reports/united-states-and-canada-alumina-market
About the Chemicals and Materials Domain in Future Market Insights
The chemicals and materials division of Future Market Insights offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling, renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing - ‘The Way Forward'.
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