International Aluminum Association: It is expected that the demand for primary aluminum will increase by 40% by 2030
A report released by the International Aluminum Association predicts that aluminum demand will increase by 40% by the end of this century. According to calculations, the global aluminum industry needs to increase its overall raw aluminum production by 33.3 million tons per year to keep up with the demand.
The report titled "Opportunities for Aluminum in the Post pandemic Economy" predicts a significant increase in demand in the transportation, construction, packaging, and electrical industries. The report suggests that these four industries may account for 75% of the growth in aluminum demand this decade.
It is expected that China will account for two-thirds of future demand, with an estimated annual demand of 12.3 million tons. The rest of Asia is expected to require 8.6 million tons of raw aluminum annually, while North America and Europe are expected to require 5.1 million tons and 4.8 million tons respectively.
When we seek a sustainable future in a decarbonized world, aluminum has the qualities that consumers pursue - strength, lightweight, versatile, corrosion-resistant, good conductors for heat and electricity, and recyclability, "concludes Prosser. Approximately 75% of the nearly 1.5 billion tons of aluminum produced in the past are 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 momentum for sustainable development in the future.
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