In 2023, Canada imported unwrought aluminum alloys valued at approximately $441 million. Forecasts show a steady increase, with 2024 imports projected at $451.81 million, further rising to $494.73 million by 2028. This reflects an expected compound annual growth rate (CAGR) of around 2.35% over these five years. Notably, the year-on-year growth from 2024 to 2028 ranges from 2.45% to 2.15%.
Future trends to watch include potential changes in global commodity prices, shifts in trade policies, advancements in recycling technologies, and domestic demand fluctuations that could impact import volumes and values. Additionally, monitoring emerging markets and green technologies could offer further insights into the evolving aluminum industry landscape.
