Market watch study on trends and opportunities in the aluminum sector
The mandate:
Over the past twenty years, global aluminum consumption has increased at a steady rate of nearly 5% per year in volume, outpacing the growth rate of other major metals. Currently, global demand is primarily driven by processed products used in transportation and construction materials, accounting for more than half of the world’s aluminum consumption.
Quebec aluminum, with its low carbon footprint, holds significant strategic potential. The government has reaffirmed its commitment to this industry by recently publishing the Quebec Aluminum Development Strategy 2021-2024.
As part of this mandate, Innovitech conducted a market watch study on trends and opportunities, aimed at enriching the economic development plan of the Société de la Vallée de l’aluminium (SVA) and ensuring the sustainability of Quebec’s aluminum industry.
Client
Société de la Vallée de l’Aluminium (SVA)
The achievements:
This study enabled Innovitech to provide a multi-faceted view of the aluminum sector to guide the SVA’s development plan.
In summary:
- Macro view via PESTEL analysis: A comprehensive analysis of the sector’s potential challenges.
- Implementation of a monitoring tool in collaboration with TKM: An automated tool to identify major trends, high-growth potential projects, and weak signals from smaller organizations (over 18,000 documents analyzed).
- Synthesis and action plan: Seventeen initiatives were identified, addressing two major issues:
- Improving accessibility and the quality of support for entrepreneurs.
- Promoting the creation of new products.
These initiatives are distributed across four strategic orientations, providing a clear summary of the possible directions for the sector and the role that the SVA can play in enriching their innovation roadmap.