Canada Aluminium Market is expected to reach USD 14.41 billion by 2030

The growing production of smelter and robust trade relationships, along with export opportunities is driving up demand for Canada aluminium market during the forecast period.

Canada Aluminium Market size was valued at USD 9.59 billion in 2023, and is predicted to reach USD 14.41 billion by 2030, with a CAGR of 5.3% from 2024 to 2030, according to new research by Next Move Strategy Consulting.

Canada is a major player in the North American aluminum market, largely due to its significant smelting capacity. The country enjoys abundant natural resources, such as extensive bauxite reserves and ample hydroelectric power, which are key factors driving smelter production.

According to the US Geological Survey, Canada holds the title of the largest producer of smelter in North America, with production reaching approximately 3 million metric tons in 2022. This substantial output underscores Canada's significant contribution to the aluminium industry, positioning it as a key player in meeting regional and global demand for aluminium products.

However, the aluminium industry is affected by environmental regulations and sustainability requirements such as emissions control, waste management, and energy efficiency targets, which can increase operational costs and pose challenges for some producers.

Compliance with stringent emissions standards, waste management regulations, and energy consumption targets can require significant investments and efforts to reduce the environmental impact of aluminium production.

These sustainability measures aim to minimize emissions, promote responsible waste management, and encourage energy efficiency. While these regulations are essential to promote a greener and more sustainable industry, they can add to the overall costs and complexities of aluminium production.

On the other hand, the increasing emphasis on sustainable packaging is expected to create ample growth opportunities for the market in the future. Aluminium is well-suited for applications such as cans, bottles, and foils, benefiting from its recyclability and ability to maintain product quality and freshness.

Eco-conscious consumers and brands seeking to minimize their environmental impact prefer aluminium as a preferred choice. By opting for aluminium packaging, they reduce waste and promote sustainability, aligning with their commitment to a greener future. This growing demand for sustainable packaging solutions drives the growth of the aluminium market.

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According to the report, leading players in Canada aluminium market include Aluminium Corporation of China Limited (CHALCO), Hindalco Industries Ltd., Norsk Hydro ASA, China Hongqiao Group Limited, United Company RUSAL PLC, Rio Tinto, East Hope Group Company Limited, Xinfa Group Co., Ltd., Alcoa Corporation, and Arconic Inc., Emirates Global Aluminium PJSC, Vedanta Aluminium and Power, Ma’aden, South32, and Century Aluminium Company.

Key Insights from Canada Aluminium Market Report:

  • The information related to key drivers, restraints, and opportunities and their impact on Canada aluminium market is provided in the report.

  • The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

  • The market share of players in Canada aluminium market is provided in the report along with their competitive analysis.

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