Aluminum demand in North America grows 4.8% in 2022

The Aluminum Association announced its preliminary estimates for 2022 in the monthly Aluminum Situation report, stating that the aluminium demand in North America (U.S. and Canada) has recorded a 4.8 per cent year-over-year increase in demand. This exceeded the nation's projected 2.7 per cent Gross Domestic Product (GDP) growth in 2022. Although predictions show a rise year over year, the analysis predicts a downturn in demand for the second half of 2022.

"Despite some headwinds and softer demand in the second half of the year, this latest data shows an industry built to last. Geopolitical disruptions, supply chain issues and inflationary pressures could continue to pose some challenges in 2023. However, with historic investment in U.S. aluminum manufacturing last year and continued market growth opportunities, the mid-and long-term trendlines for aluminum in America remain incredibly strong," said Charles Johnson, president & CEO of the Aluminum Association.

The Aluminum Association has mentioned in the report that in 2022, the demand for aluminium in the United States and Canada (shipments from domestic manufacturers + imports) was predicted to reach 27.5 billion pounds, an increase of 4.8 per cent from 2021. The overall demand in 2022 came close to the records set in 2018 and 2019.

After a similar reduction in November, the demand for aluminium decreased by 3.7 per cent in December 2022 compared to December 2021. The majority of significant semi-fabricated, or "mill," product categories had higher demand growth year over year, headed by sheet and plate goods (6.1 per cent) and foil (5.1 per cent). Demand for mill products increased overall by 4.1 per cent in 2022.

The U.S. aluminium sector announced more investment in local production last year than over the previous few decades put together. Businesses revealed billion-dollar plans to expand their recycling and rolling aluminium capacity, including greenfield operations that will go online soon.