Report: U.S. Aluminum Market to Hit $14.5 Billion by 2035

SEATTLE (Scrap Monster): According to IndexBox's most recent research report, the aluminum market in the United States is expected to rise somewhat over the next ten years. The market is anticipated to begin an upward consumption trend throughout the ten-year forecast period until 2025, mostly due to the nation's growing need for aluminum.

It is anticipated that the U.S. aluminum market will increase at an average annual volume growth rate of 1.3%. The market is anticipated to grow by 2.8% in terms of value. According to the analysis, the market value of aluminum is expected to reach $14.5 billion by 2035, while the volume of the market is expected to reach 4.6 million tons.

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The paper states that in 2024, the consumption of aluminum and alloys decreased by 8.7% annually to 4 million tons. Following two years of increase, consumption saw a dip for the second year in a row. In the past year, the U.S. aluminum market shrank to $10.74 billion, a 9% decrease from 2023.

In 2024, over 882 kilotonnes of aluminum and alloys were produced. This represented a slight 1.8% decrease from 2023. The United States produced $2.6 billion worth of aluminum overall.

In the meantime, imports of aluminum and alloys decreased to 3.9 million tons in 2024, a 5.8% annual decline. The total value of aluminum imports was $10.9 billion. According to the research, unwrought aluminum and unwrought aluminum alloys were the primary imports in 2024.