The alumina and aluminum production and processing industry in Canada experienced varied growth from 2013 to 2023. The sector saw notable growth in the mid-2010s, peaking in 2018 with a value of 13.896 billion CAD. However, post-2019, the industry faced a decline in revenue with year-on-year decreases: -12.76% in 2019 and consistent drops through to 2023, which stood at 10.94 billion CAD.
Key observations:
- From 2013 to 2023, the industry showed periods of positive growth especially notable in 2014 (7.01%) and 2017 (17.99%) but also significant declines, particularly from 2019.
- The revenue fell continuously from 2019 onwards, resulting in a negative compound annual growth rate (CAGR) of -4.67% over the last five years.
Future trends to watch for:
- Expected minor decline in revenue with a forecasted CAGR of -0.69% from 2024 to 2028.
- Potential impacts of global economic conditions, trade policies, and advancements in recycling technology on demand and production costs.
