SMM: NEV sector will Become the Major Consumer of Aluminium

Published: Sep 29, 2022 11:34

Source: SMM

Save

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.

Market Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

20 hours ago

China's Spodumene Ore Imports Surge in December, Led by Canadian and African Supplies

Customs data shows that China's spodumene ore imports in December increased compared to November, reaching 788.5 thousand physical tons, equivalent to approximately 78.5 thousand tons of lithium carbonate equivalent (LCE) (calculated by SMM based on statistical processing considering average grade and moisture content).

20 hours ago

23 hours ago

"Canada-China Trade Pact Threatens US Tariffs, China Affirms Bilateral Commitment"

The U.S. side declared that if Canada reaches a new trade agreement with China, it will impose tariffs of up to 100% on goods imported from Canada. In response, Foreign Ministry spokesperson Guo Jiakun stated that China and Canada are committed to building a new-type strategic partnership and have reached a series of specific arrangements to properly handle economic and trade issues between the two countries. These measures are not targeted at any third party.

23 hours ago

EU and India Sign Landmark Free Trade Agreement, Reducing Tariffs on 96.6% of Goods

The European Union and India have successfully signed a free trade agreement. Under the agreement, India will eliminate or reduce tariffs on 96.6% of goods exported from the EU to its domestic market. Notably, automobile tariffs will undergo a gradual reduction process, decreasing from the original 110% to a final rate of 10%. At the same time, the EU has committed to eliminating or lowering tariffs on 99.5% of goods imported from India over the next seven years.

23 hours ago