UAE: Aluminium Investments to Reach USD 55 Billion by 2020
Statistical data shows that the Gulf aluminium industry is growing by 8,4 %/a, compared to an average annual global expansion of 3,5 %, making the Middle East the fastest growing aluminium market in the world, said the organisers of the event who cited figures by Harbor Intelligence, a firm specialized in global aluminium markets’ trends, analysis and forecasts. Gulf region’s aluminium production reached 3,74 Mt, in 2012 compared to 3,49 Mt in 2011 and is expected to increase to 5 Mt by 2015, making the Gulf region the biggest single player worldwide, the organisers of the event added. The region is not only one of the key aluminium producers in the world, but is also among major consumption markets of the metal. The Gulf aluminium industry has several competitive advantages over its counterparts across the globe. These include huge reserves of raw materials, energy and natural gas. Aluminium smelters in the Gulf region are modern and use sophisticated techniques that consume less energy, enabling them to reduce cost, achieve price flexibility, and increase their competitiveness in global markets. The Gulf region’s aluminium industry also benefits from the presence of a world-class infrastructure network, cheaper skilled labor, unique geographic location and advanced logistics. At the Aluminium Middle East Exhibition, which will be held under the theme of “Forging Connections – Building Possibilities“, the Middle East aluminium industry will come under the global spotlight with the 4th edition of the Aluminium Middle East Exhibition. Expected to attract over 200 exhibitors from 25 countries, the event will bring together top regional and international producers, suppliers and investors, according to the organisers of the event.