The fused aluminum oxide production in the US and Canada was stable at 10.0 Thousand Metric Tons from 2013 to 2019. However, starting 2020, production began a consistent decline, with 2023 seeing a value of 7.81 Thousand Metric Tons. Observing the year-on-year variations, 2020 marked a significant drop of 7.57%, and this declining trend continued with decreases of 5.26% in 2021, 5.45% in 2022, and 5.64% in 2023. The CAGR over the last five years was negative, averaging -4.82% annually.
Forecasts for 2024 to 2028 predict this decline will persist, with a projected CAGR of -5.94% over the next five years, leading to an estimated production of 5.37 Thousand Metric Tons by 2028, representing a 26.38% decrease. This continuing downward trend suggests the industry's challenges are far from over.
Future trends to watch for include shifts in global supply chains, advancements in production technology, and changes in demand from key industries such as automotive and electronics, which could influence the production volume and market dynamics of fused aluminum oxide.
