SHANGHAI, Mar 29 - According to a report released by the International Aluminium Association (IAI), it is predicted that primary aluminium demand will grow by 40% by the end of 2030. And it is calculated that the global aluminium industry will need to ramp up overall primary aluminium production by 33.3 million mt per year to keep up with the requirements.
The report, entitled Opportunities for Aluminium in A Post-Pandemic Economy, states that the largest increases in demand are expected in the transport, construction, packaging and electrical sectors. These four sectors are likely to account for 75% of the growth in primary aluminium demand in the next decade.
China is expected to account for two-thirds of future demand, which is projected at 12.3 million mt per annum. The rest of Asia is expected to require 8.6 million mt of primary aluminium per annum, while North America and Europe are expected to demand 5.1 million mt and 4.8 million mt per annum respectively.
"As we seek a sustainable future in a decarbonised world, aluminium has the qualities that consumers are looking for - strength, light weight, versatility, corrosion resistance, a good conductor of heat and electricity and recyclability," concluded Prosser. "Of the nearly 1.5 billion mt of aluminium that has been produced, approximately 75% is still in use today. This metal has been at the forefront of many industrial and engineering innovations in the 20th century and continues to provide the impetus for a sustainable future.
