North America’s aluminium cans market to grow at a CAGR of 3.3% during 2023-32

AL Circle

According to a report, North America’s aluminium cans market is poised to grow at a compound growth rate of 3.3 per cent during 2023-32. Thus, from US$16.4 billion in 2023, North America’s aluminium cans market is expected to reach US$22 billion.

North America’s aluminium cans market to grow at a CAGR of 3.3% during 2023-32

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Currently, the demand for aluminium cans in North America is primarily driven by the packaging sector for processed and ready-to-eat food products, aerated drinks, fruit juices, and energy drinks. In addition, growing environmental concerns among consumers, turning them to aluminium cans from plastic, are also contributing to the demand growth.

Further, the increasing consumption of energy and sports drinks influenced by alluring advertising campaigns by manufacturers is also an important factor behind the growing aluminium cans market in North America.

AL Circle’s Outlook Report 2024 pointed out that due to the rising consumption of aluminium in the packaging sector, the demand for aluminium flat-rolled products is witnessing steady growth. In 2024, the demand for aluminium flat-rolled products (including foil) is expected to increase by about 2.59 per cent, driven by the usage in packaging sectors.

In 2023, the packaging sector accounted for 46.5 per cent of the global aluminium flat-rolled product usage, followed by transportation accounting for 15.5 per cent, the building & construction sector 10 per cent, and the electrical and electronics sector 9.5 per cent.

In 2023, the overall aluminium usage in the end-user sector was about 97.8 million tonnes, of which packaging accounted for 16 per cent, following transportation 28 per cent and building & construction sector 21 per cent.

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