USA and Canada Alumina Market Set to Flourish with Steady 5.1% CAGR, Projected to Reach US$ 5,491.3 Million by 2032

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.

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 United States and Canada Alumina Market Study

“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.

Top Key Players in the Global Market

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.

Strategic Market Insights: Before Investing in the Alumina Market, Talk to Our Experts to Learn How Different Regions and Countries Shape the Industry. Contact Us Now @ https://www.futuremarketinsights.com/ask-question/rep-gb-16466

Alumina Market Segmentation

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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