JBREC Market Study Predicted Notable Surge in Aluminum Demand

SEATTLE (Scrap Monster): The latest market study published by John Burns Real Estate Consulting (JBREC) says that demand for aluminum in the residential and construction market is expected to grow by 34%-51% by 2024. The robust demand in the U.S. housing market will be the key driver for the projected strong growth in usage.

The JBREC study says that building aluminum market is expected to grow at a CAGR of 8% until 2024, thereby surpassing the record levels witnessed in mid-2000s. The shift to modern design will add around 154 million pounds of new aluminum usage by mid-decade. It projects an additional 300 million pounds of aluminum usage by 2025, driven by increased use of aluminum gutters and downspouts.

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Aluminum has emerged as the smart choice for home builders and owners. Lightweight and durable aluminum has been found capable of reducing building and maintenance costs over the lifetime of a home. The demand for aluminum is projected to remain strong, especially as post-pandemic recovery continues.

Approximately $400 billion of the spending in the recently passed bipartisan Infrastructure Investment & Jobs Act is expected to directly impact aluminum usage in the U.S. Also, the shift towards modular construction techniques will drive the use of the metal significantly.