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North American aluminum demand grows 5.0 percent in 2014
- February 24, 2015
- News Release
- Metals/Materials
The aluminum industry in the U.S. and Canada had year-over-year demand growth of 5.0 percent through the end of 2014, according to preliminary data released by the Aluminum Association, Arlington, Va. The estimated 25.5 billion lbs. of aluminum shipped by North American producers and fabricators last year is the largest shipment total for the industry since 2006.
"We're seeing steady demand growth across many of our key markets," said Ryan Olsen, vice president of business information and statistics for the Aluminum Association. "Orders of aluminum mill products also are on the rise, a leading indicator of continued growth for the industry into 2015."
Among the key findings in the report, in the U.S. and Canada:
- Apparent consumption of aluminum (demand less exports) in domestic markets totaled 22 billion lbs. through the end of 2014, a 7.3 percent increase over 2013.
- Total mill product shipments grew 4.5 percent in 2014, led by growth in the extrusion, foil, and sheet and plate markets.
- New orders of aluminum mill products rose 3.9 percent in 2014 and were up 3.0 percent in January year-over-year.
- Secondary recovery (recycling) of aluminum is up 4.1 percent year-to-date through November 2014 (U.S. only).
- Primary aluminum production declined 7.1 percent in 2014 and was down 4.0 percent year-over-year in January.
- Imports of aluminum (excluding U.S./Canada cross-border trade) rose 20.2 percent in 2014 to 5.5 billion lbs., while exports declined 6.8 percent to 7.4 billion lbs.
"The growth in North American demand for aluminum in 2014 was all the more impressive given the harsh winter weather the region experienced at the start of the year, and the significant impact it had on operations," Olsen said. "Demand grew just eight-tenths of 1 percent year-over-year during the first four months (January to April), compared to a year-over-year increase of 7.1 percent over the final eight months."
According to this latest data, demand for aluminum has grown by 38.3 percent since the depths of the Great Recession in 2009, and the industry continues to expand. Over the past two years, Aluminum Association member companies have announced domestic plant expansions and planned investment totaling more than $2.3 billion. These investments are intended to capture and meet anticipated demand growth for aluminum in the automotive sector as automakers strive to make lighter and more fuel-efficient vehicles. The investments announced to date could increase industry auto sheet capacity by more than 2 billion lbs. over the next decade.
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