Aluminum production in Canada has shown variability over the last decade with actual production peaking in 2016 and steadying around 2.9 million metric tons from 2020. The year-on-year variation shows considerable fluctuation with moments of both growth and decline, notably a significant drop in 2018. The last two years have shown minimal decrease with year-on-year variations of approximately -0.07%. Over the past five years, the CAGR is around -0.18%, indicating a relatively stable production level with slight decreases.
Future forecasts suggest stability in aluminum production, maintaining around 2.89 million metric tons. The forecasted 5-year CAGR indicates a negligible decline at -0.05%, largely plateauing around the 2.89 million metric ton mark by 2028.
Future trends to watch for include technological innovations in production efficiency, market demand shifts particularly due to environmental regulations, and potential impacts from global economic conditions affecting both raw material supply and export demands.
