GENERAL NEWS
Asia Pacific to lead global aluminium market
According to a report on ResearchAndMarkets . com , the global aluminium market is expected to grow from its 2021 valuation of US $ 245.7 billion to reach US $ 498.5 billion by 2030 . This growth will occur at a CAGR of 5.8 % between 2022 and 2030 .
Aluminium is one of the most widely used metals in the world . Its qualities ( such as lighter weight , durability , corrosion resistance and heat / electricity conductivity ) have diversified its end-use applications .
“ The ability to use aluminium in a wide range of industries , rapid industrialisation and tech-driven developments in the automotive industry are expected to augment the demand for aluminium in the coming years . Moreover , secondary aluminium is also gaining tremendous traction owing to its application in construction materials , transportation , packaging foils and cans amongst others . The cumulative force of these factors is poised to unlock new revenue avenues in the global aluminium market ,” said the report .
Other trends highlighted in the report include :
■ The rolled and extruded aluminium segment accounted for a share of over 60 % in the global aluminium market in 2021 . This is due to its diverse applications in aerospace ; automotive ; electrical ; consumer goods and packaging industries .
■ As of 2021 , the Asia Pacific commanded a staggering 69 % of the total value share . APAC ’ s automotive , construction and manufacturing sectors are expected to maintain their status as the key demand pools within its aluminium market .
■ In terms of volume , secondary aluminium held an overall share of 29 % in the aluminium market owing to its advantages , such as lower production costs and lesser energy consumption .
Aluminum semis are available in a wide range of shapes and sizes including extruded , rolled , forged , cast and cable forms . Among these , rolled and extruded aluminium generate significant demand in the overall aluminum market . Flat-rolled aluminium finds considerable application in industries such as aerospace , electrical , automotive , consumer goods and packaging .
“ The growing focus on building lightweight and fuel-efficient automobiles are creating promising market trends for rolled aluminium . It is used in the car ’ s body , interior and exterior panels , and heat exchangers . Meanwhile , extruded aluminium is in high demand owing to its strength , durability and flexibility .
“ The thriving manufacturing sector and high consumption of aluminium in the Asia Pacific are set to establish the region as the leading aluminium market in the projection period . Major economies , such as China and India , are contributing significantly to such market growth ,” added the report .
For more information about this report , visit www . researchandmarkets . com / r / ylv8iv n
A car bonnet made of aluminium .
Auto industry calls on EU leaders to act on industry competitiveness
Before the recent European Council Summit in March 2023 , where EU leaders addressed EU competitiveness , the European Automobile Manufacturers ’ Association ( ACEA ) re-iterated its call to speed up action to secure the EU ’ s industrial base during the green transition . Speaking at a hearing in the European Parliament in Brussels , ACEA President and CEO of Renault Group , Luca de Meo , stated : “ Europe and its auto industry are at a turning point . The challenges are huge , as is the pressure on the auto industry .
“ Today , European vehicle manufacturers are facing a very asymmetrical challenge . We are no longer leading the technological race . At the same time , as purchase incentives for zero-emission vehicles wane in the EU , we note massive support to our competitors in China and the U . S . All of this is happening in a context where overall European competitiveness is eroding ,” he added .
ACEA Director General , Sigrid de Vries , explained : “ A major challenge for the automotive sector over the last years has been the sheer volume of new legislation , spanning from tailpipe CO₂-emissions reduction to the incorporation of sustainability and due diligence criteria into automotive-related legislation . And while the legitimacy of these initiatives is not in question , and industry heavily invests in delivering on their goals , Europe can and should do better for legislation to be coherent , achievable and competitive in a global context .
“ The recent Euro 7 proposal on pollutant emissions is a prime example of a regulation that will add complexity and uncertainty to key decisions and investments of European vehicle makers , without bringing the environmental benefits it claims to deliver ,” she continued .
The Euro 6 standard in place today , together with the ramp-up of electric vehicles , has the potential to deliver an 80 % reduction in NOx emissions by 2035 , compared with 2020 . The Euro 7 proposal would bring at most four additional points for cars , and two additional points for trucks . This marginal impact would come at a high cost : ACEA estimates that the Euro 7 proposal would result in an increase of € 2,000 to the price of a new car on average . This means that many people would be forced to extend the lives of their old cars , with a counterproductive effect on the environment
and climate .
“ Since fleet renewal is the
ACEA President and CEO of Renault Group , Luca de Meo .
most powerful tool to curb both CO₂ and pollutant emissions , we should be looking for ways to accelerate it ,” said de Meo . “ We must also consider additional opportunities , using the right tools and acting where it makes sense . For air quality , we should focus on big urban areas , respecting the subsidiarity and proportionality principles , because this is where it is a real issue . Our message to EU policymakers is that it is possible to improve air quality , reduce climate impact and maintain competitiveness all at once . We stand ready to work together to find the best pathways to achieve these goals .”
The European Automobile Manufacturers ’ Association ( ACEA ) represents 14 major Europe-based car , van , truck and bus makers . n www . acea . auto
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