U.S. Aluminum Industry Produced $176 Billion in Economic Output

The estimated aluminum demand in North America outpaced U.S. GDP growth in 2021, surging higher by 7.7% over the previous year.

SEATTLE (Scrap Monster): The results of a new survey indicate that the U.S. aluminum industry directly employs more than 164,000 workers and drives $73 billion in economic output. In total, the U.S. aluminum industry supports more than 634,000 direct, indirect and induced jobs and nearly $176 billion in economic output.

According to the 2022 Economic Impact of the Aluminum Industry study conducted by economic research firm John Dunham & Associates, the overall employment in the domestic aluminum industry has remained more or less steady during the past decade. However, overall jobs reported slight decline between the 2020 and 2022 studies.

The estimated aluminum demand in North America outpaced U.S. GDP growth in 2021, surging higher by 7.7% over the previous year. The industry collectively committed or invested approximately $1 billion in U.S. manufacturing. It must be noted that the investment over the past decade has already exceeded $4 billion.

Among various sections of the industry, the secondary aluminum production or recycling segment jobs registered strongest year-on-year growth of 7.3%. After the improvement witnessed in 2020, the primary aluminum production jobs registered 9.6% decline, owing to plant closures and curtailments during the year. The jobs in aluminum forging too were down by 10.5%, said the study.

YOU MAY ALSO BE INTERESTED IN:

Trade Body Launched Latest Monthly Tracking Report on Aluminum Imports

JBREC Market Study Predicted Notable Surge in Aluminum Demand

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index