Aluminium demand in India to zoom 7-9% by 2028 as EV Sales Surge 27%
At the recently concluded Material Recycling Association of India (MRAI) international conference held in Jaipur from 28 to 30 January, Mohan Agarwal, managing director and chairman of a prominent secondary smelter CMR Green Recycling, projected robust growth in India’s secondary aluminium demand.
Agarwal forecasted a compound annual growth rate (CAGR) of 7-9 per cent between 2023 and 2028, with demand expected to rise from 1.7 million tonnes in 2023 to approximately 2.4-2.5 million tonnes by 2028. The automotive sector is poised to be a key driver of this growth, with demand anticipated to increase at a CAGR of 7-11 per cent.
India’s automotive sector, already the third-largest market globally, surpassed Japan and now trails only China and the US, according to government reports from January 2024. This growing demand for secondary aluminium underscores the nation’s drive toward sustainable and circular manufacturing practices, particularly in the automotive industry.
Unlock full access – sign up for FREE.
Key benefits
China’s 2024 aluminium foil trade overview: top 5 export destinations and values revealed
Next articleGränges AB in 2024: higher sales, stable profit, and reduced carbon emissions demand attention
Grow with
AL Circle
