Released August 19, 2014 | JOHANNESBURG
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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--The Middle East is the fastest growing aluminum market in the world. Data shows that the regional industry is growing at a rate of 8.4% annually, compared with an annual global growth of 3.5%.
The Gulf Aluminum Council (GAC) reports that aluminum production volume in the region is expected to increase to 5 million tonnes by 2015, which would represent 17.5% of total global output, compared to 3.7 million tonnes in 2012, which was 11% of total world production. GAC represents the sectors interests regionally and internationally.
Gulf investments in the aluminum sector are set to reach $55 billion by 2020, compared with $30 billion in 2011.The increase was powered by smelter expansions and new projects, according to market analyst Harbor Intelligence (Austin, Texas).
Production of more than 3.7 billion tonnes by 2015 would make the region the single largest producer globally.
Aluminum is contributing to the region's efforts to diversify economies beyond hydrocarbons. The metal is a necessity in industries, including transportation, aerospace, aviation, packaging and construction. The region has several competitive advantages to offer the sector, including major reserves of raw materials, energy and natural gas.
For related information see February 25, 2014, article--Global Aluminum Consumption to Grow 6% in 2014 as Premiums Increase, Says Rural Report, January 17, 2014, article--GCC Aluminum Producers Maintain Strong Sales and Production Growth, Look Toward Asia, and June 5, 2013, article--EMAL, Dual Merge into Mega Emirates Global Aluminum.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
The Gulf Aluminum Council (GAC) reports that aluminum production volume in the region is expected to increase to 5 million tonnes by 2015, which would represent 17.5% of total global output, compared to 3.7 million tonnes in 2012, which was 11% of total world production. GAC represents the sectors interests regionally and internationally.
Gulf investments in the aluminum sector are set to reach $55 billion by 2020, compared with $30 billion in 2011.The increase was powered by smelter expansions and new projects, according to market analyst Harbor Intelligence (Austin, Texas).
Production of more than 3.7 billion tonnes by 2015 would make the region the single largest producer globally.
Aluminum is contributing to the region's efforts to diversify economies beyond hydrocarbons. The metal is a necessity in industries, including transportation, aerospace, aviation, packaging and construction. The region has several competitive advantages to offer the sector, including major reserves of raw materials, energy and natural gas.
For related information see February 25, 2014, article--Global Aluminum Consumption to Grow 6% in 2014 as Premiums Increase, Says Rural Report, January 17, 2014, article--GCC Aluminum Producers Maintain Strong Sales and Production Growth, Look Toward Asia, and June 5, 2013, article--EMAL, Dual Merge into Mega Emirates Global Aluminum.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
