North American aluminum demand has increased by 30.8pc in the past decade, estimated at around 24.5bn lbs (11.1mn mt) in 2020, compared with 18.7bn lbs in 2009, recent data from the Aluminum Association (AA) indicates.
In a recent press release, the AA noted that aluminum demand in most sectors of the US economy is steadily growing. Can sheet shipments have grown 3.3pc in 2020 and Kaiser Aluminum and Arconic have hinted at more capacity being commissioned this year to meet demand.
The construction sector continues to grow with 7pc more housing starts and 4.7pc more funding in 2020 over the prior year. Extrusion demand remains robust, with many producers noting a shortage of supply due to raw material constraints.
The electric vehicle (EV) push from all major carmakers also presents an opportunity for aluminum demand as battery casings also use aluminum and EVs tend to use aluminum parts rather than steel. In the past 12 years, the amount of aluminum used in each light vehicle produced has increased to around 570lbs from 84lbs in 2008.
The AA also highlighted the role of recycling in low carbon aluminum and the shift towards net-zero emissions.