PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682777
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1682777
The U.S. aluminum market is expected to grow from USD 14.32 billion in 2024 to USD 21.36 billion by 2032, at a CAGR of 5.25%. The growing demand from key sectors such as automotive, construction, and renewable energy is driving this expansion. Aluminum's lightweight, durable, and corrosion-resistant properties make it an essential material in various applications, including electric vehicles (EVs), building materials, and packaging. Additionally, aluminum's high recyclability further enhances its demand as sustainability continues to be a focus in manufacturing and construction industries.
Key Insights
The automotive and transportation sector is the fastest-growing segment, with a 5.5% CAGR, as the need for lightweight materials for fuel-efficient vehicles and electric cars increases.
Aluminum shapes hold the largest market share, primarily used in construction, automotive, and industrial machinery due to their strength and versatility in design.
The pipes and tubes category is the fastest-growing segment, driven by demand in the energy industry, including solar and wind power, where aluminum's lightweight and corrosion resistance are key advantages.
The building and construction sector remains the largest application for aluminum, bolstered by urbanization and increased investments in sustainable and recyclable building materials.
The shift toward electric vehicles (EVs) is significantly boosting the demand for aluminum, especially for battery components and vehicle frames to reduce weight and improve energy efficiency.
Series 1 aluminum, known for its high electrical conductivity, dominates the market, particularly in electrical and electronic applications, while Series 6 is the fastest-growing due to its use in automotive and transportation.
The South region holds the largest market share, while the West region is expected to experience the fastest growth due to the rising demand from EV manufacturing and renewable energy sectors.