Aluminum Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS 33131Revenue
$45.4bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
54,949
Businesses
757
Wages
$X.Xbn
Aluminum Manufacturing in the US industry analysis
The Aluminum Manufacturing industry has endured significant volatility, mainly in response to fluctuations in aluminum prices, which reflect global supply and demand. While higher prices raise the cost of processing purchased aluminum, manufacturers pass cost increases onto customers, generating greater revenue. Over the past five years, aluminum prices have been particularly volatile, caused by changing international trade policies and pandemic-related effects on production. Aluminum Manufacturing industry revenue has inched downward at a CAGR of 0.3% over the past five years and is expected to total $45.4 billion in 2024, when revenue will fall by an estimated 0.1%. Profit has also dropped amid heightened input cost volatility.
Trends and Insights
- Aluminum sales are significantly influenced by the performance of the automotive and construction sectors, which are major metal consumers. A downturn in the automotive market reduced aluminum demand, negatively affecting manufacturers and causing financial challenges for the industry.
- The automotive, aerospace and construction markets significantly influence sales. However, these industries can swiftly switch to alternative materials, such as steel and their demand is susceptible to economic fluctuations.
- Manufacturers strategically position themselves near key buyers to minimize transportation costs and ensure timely deliveries. The Great Lakes and West regions are prime locations because of their high concentration of manufacturing customers, enhancing logistical efficiency and market access.
- Aluminum's popularity over steel stems from its lightweight and malleable nature, enhancing vehicle fuel efficiency. This metal reduces the overall weight of cars and airplanes, leading to lower fuel consumption and decreased emissions, offering economic and environmental benefits.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.3 % over the past five years, to reach an estimated $45.4bn in 2024.
Trends and Insights
Foreign manufacturers displace domestic producers
- Foreign manufacturers have taken control of the alumina and primary aluminum product segments. In particular, countries like China, Brazil and Indonesia, which have lax labor laws and clean energy regulations, have dominated.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Swelling car production will support aluminum manufacturers
- Rallying new car sales will create growth opportunities for aluminum manufacturers. Automotive manufacturers face increasingly stringent fuel efficiency mandates at the federal level and shift to hybrid and fuel-efficient vehicles at the consumer level.
Biggest companies in the Aluminum Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Novelis Inc. | 7,436.7 | 259.7 | 3.5 | |
Arconic Corporation | 6,650.4 | 498.2 | 7.5 | |
Kaiser Aluminum Corporation | 3,150.0 | 118.0 | 3.7 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Alumina, Primary aluminum and Secondary aluminum. Alumina is the largest segment of the Aluminum Manufacturing in the US.
Trends and Insights
Various markets use aluminum sheets, plates and foils
- Flat-rolled aluminum products, including aluminum sheet, plate and foil represent the industry's largest product segment. The popularity of this segment is in part due to them being procured by a variety of downstream markets.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Iron & Steel Manufacturing in the US
Complementors
- Nonferrous Metal Refining in the US
- Nonferrous Metal Rolling & Alloying in the US
International industries
- Aluminum Manufacturing in Canada
- Alumina Production in Australia
- Aluminium Smelting in Australia
- Aluminium Rolling, Drawing and Extruding in Australia
- Aluminium Production in the UK
Table of Contents
About this industry
Industry definition
Companies in this industry refine aluminum-bearing bauxite into alumina, smelt alumina to produce aluminum and manufacture aluminum products such as alloys, plate, sheet, foil and extrusions. The industry also includes companies that recover aluminum from scrap.
What's included in this industry?
AluminaPrimary aluminumSecondary aluminumAluminum sheet, plate and foilAluminum extrusionsOtherCompanies
Novelis Inc.Arconic CorporationKaiser Aluminum CorporationPurchase this report to view all 6 major companies in this industry.
Related Terms
ALUMINAUNWROUGHTROLLINGBODY-IN-WHITEDRAWINGEXTRUDINGSEMIFABRICATIONINGOTPRIMARY MANUFACTURINGSECONDARY MANUFACTURINGIndustry Code
NAICS 33131 - Aluminum Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Aluminum sales are significantly influenced by the performance of the automotive and construction sectors, which are major metal consumers. A downturn in the automotive marke...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The automotive, aerospace and construction markets significantly influence sales. However, these industries can swiftly switch to alternative materials, such as steel and the...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Manufacturers strategically position themselves near key buyers to minimize transportation costs and ensure timely deliveries. The Great Lakes and West regions are prime loca...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Aluminum's popularity over steel stems from its lightweight and malleable nature, enhancing vehicle fuel efficiency. This metal reduces the overall weight of cars and airplan...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Novelis and Arconic have achieved substantial market share by providing a diverse range of high-quality products and ensuring timely deliveries. Their operations span multipl...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Novelis Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Arconic Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Kaiser Aluminum Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 3 additional companies
Detailed analysis
- Description and key data for Novelis Inc., and factors influencing its performance in the industry
- Description and key data for Arconic Corporation, and factors influencing its performance in the industry
- Description and key data for Kaiser Aluminum Corporation, and factors influencing its performance in the industry
- Description, key data and performance trends for 3 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Protective tariffs benefit the aluminum manufacturing industry significantly. They help stabilize the market by reducing competition from cheaper foreign imports. These tarif...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Manufacturers often enter long-term supply agreements to mitigate the risks associated with volatile raw material prices. This stability allows them to maintain profitability...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Aluminum Manufacturing in the US industry in United States in 2024?
The market size of the Aluminum Manufacturing in the US industry in United States is $45.4bn in 2024.
How many businesses are there in the Aluminum Manufacturing in the US industry in 2024?
There are 757 businesses in the Aluminum Manufacturing in the US industry in United States, which has declined at a CAGR of 2.3 % between 2019 and 2024.
Has the Aluminum Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Aluminum Manufacturing in the US industry in United States has been declining at a CAGR of 0.3 % between 2019 and 2024.
What is the forecast growth of the Aluminum Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Aluminum Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Aluminum Manufacturing in the US market in United States?
The biggest companies operating in the Aluminum Manufacturing market in United States are Novelis Inc., Arconic Corporation and Kaiser Aluminum Corporation
What does the Aluminum Manufacturing in the US in United States include?
Alumina and Primary aluminum are part of the Aluminum Manufacturing in the US industry.
Which companies have the highest market share in the Aluminum Manufacturing in the US in United States?
The company holding the most market share in United States is Novelis Inc..
How competitive is the Aluminum Manufacturing in the US industry in United States?
The level of competition is high and steady in the Aluminum Manufacturing in the US industry in United States.
