Aluminium industry expected to become a key non-oil contributor in the Middle East.
The global aluminium market will be worth $105.63 billion in 2015, calculated Visiongain in its report: The Aluminium Market Analysis, Financials and Forecasting 2015 – 2025.
Of this growth, aluminium production is expected to shift to regions such as the Middle East and China with access to low cost energy sources. Low cost energy will be a key factor, as around 37% of the total cost in aluminium production can be consumed by electricity costs.
Visiongain’s report anticipated this growth to continue in the long term, with the largest growth in demand coming from the Middle East, as well as Brazil, Russia, India and China – the BRIC nations.
The Middle East is abuzz with talk of Aluminium’s growth, with the fourth biennial Aluminium Middle East held in Dubai 14 – 16 April.
Daniyal Qureshi, group exhibition director at Reed Exhibitions Middle East, said: “The fall in aluminium prices will reduce the cost of manufacturing and the demand will increase. The expansion of smelters is massively driven by demand from the massive infrastructure and construction projects in the region.”