The alumina and aluminum production and processing opening inventories in Canada have shown significant fluctuations over the years. The lowest point was in 2014 with a sharp 26.27% decline from the previous year. The inventories rebounded with a 12.95% increase in 2015 and a substantial 22.95% rise in 2016. There was a marginal decrease in 2017, followed by notable growth from 2018 to 2019, with a peak 25.54% increase in 2019. The year 2020 saw a slight dip of 7.95%, but this was followed by consistent growth over the subsequent years. In 2022 and 2023, the inventories grew by 5.07% and 4.78% respectively, bringing the 2023 value to 1,529.2 million Canadian dollars. The Compound Annual Growth Rate (CAGR) for the last five years stands at 7.3%. The forecast from 2024 onwards predicts a CAGR of 3.16% and an overall 16.85% growth rate by 2028.
Future trends to watch for include:
- Monitoring the consistency of the projected growth and its alignment with the forecasted CAGR of 3.16% over the next five years.
- Evaluating the impact of global market conditions, technological advancements, and environmental regulations on production and inventory levels.
- Assessing how shifts in demand for aluminum products, driven by industries such as automotive, construction, and packaging, affect inventory stockpiles.
- Keeping an eye on geopolitical factors and trade policies that might influence import and export activities, which in turn impact inventory levels.
