Noida, UP -- (SBWIRE) -- 05/22/2014 -- Aluminium is one of the most versatile and essential materials for the global economy. Amongst key industry verticals, transportation accounts for 25% consumption share, followed by construction (24%), packaging (17%), power (12%) and machinery (10%). World primary aluminium markets have witnessed five consecutive years of surplus since 2008. China dominates the global aluminium market in both production and consumption. Boom in the residential and infrastructure markets drive its aluminium market.
Worldwide, rising aluminum stocks have hampered production and cut down prices. Manufacturers have slowed down production to reduce pressure on prices. Industry estimates reveal that while primary aluminium production is growing at a CAGR of around 3%, the primary aluminium consumption is estimated growing at around 4% during 2012-2018.
Highlighting the opportunity areas in the global aluminium industry, Shushmul Maheshwari, CEO - RNCOS said that at the supply-side, the market is shifting towards the Middle East due to the availability of cheap energy in the region. The new markets for aluminum are found within aviation, solar cells, electronics, cars and new types of material for construction. Aluminum has already succeeded in entering part of the copper market since copper is higher priced and is heavier than aluminum. However, price volatility, high inventory, high energy and carbon cost and competition from substitutes like Carbon fibre-reinforced plastic (CFRP), Titanium, Steel and Composite materials are threats for aluminium industry.
Demand for aluminum will continue to rise, particularly in the emerging markets, due to lower per capita consumption of the metal in these parts of world. Additionally, the demand of aluminum is increasing owing to high aluminum use in the construction and power transmission industries. Usage of aluminum in automobiles will again amplify and continue its growth track as public demand for a greener environment and increased fuel efficacy compel policymakers to amplify fuel economy standards, reduce carbon dioxide emissions, and increase the usage of aluminum in automobiles.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.