SMM: NEV sector will Become the Major Consumer of Aluminium

Published: Sep 29, 2022 11:34

Source: SMM

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SMM believes that with the development of lightweight automobiles in the future, more aluminium extrusion will be used in the automotive industry. The consumption of aluminium extrusion related to new energy vehicles will increase sharply in 2025-2030, and companies need to deploy related production lines in advance.

SHANGHAI, Sep 29 (SMM) - SMM believes that with the development of lightweight automobiles in the future, more aluminium extrusion will be used in the automotive industry. The consumption of aluminium extrusion related to new energy vehicles will increase sharply in 2025-2030, and companies need to deploy related production lines in advance.

In 2021, the output of construction extrusion declined compared with the previous year, while the output of industrial aluminium extrusion increased significantly. Among them, the proportion of aluminium extrusion for automobiles was limited due to their high technical requirements. In the future, with the development of lightweight automobiles , the use of aluminium extrusion for automobiles will gradually increase.

According to SMM forecast, by 2030, the output of construction extrusion will decline as a whole, while the output of industrial extrusion will continue to rise. The extrusion consumption of new energy vehicles is the biggest bright spot, which basically maintains an annual consumption growth rate of more than 10%.

Thanks to the national policies, China's aluminium consumption of automobile is expected to further increase in the next eight years.

According to SMM's forecast, with the rapid development of new energy vehicles, the consumption of aluminium materials will gradually overtake traditional fuel vehicles and become a new force in the market.

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