Aluminium industry size to double in 10 years, say industry experts

International industry players expect aluminium industry market worldwide to double within the next 10 years. Optimistic on growth prospects, participants at the ALUMINIUM MIDDLE EAST 2015, which concluded today, said with projects worth billions of dollars in the pipeline, the Middle East is among the key markets offering numerous attractive opportunities they are keen on tapping.

The three-day ALUMINIUM MIDDLE EAST 2015 2015, organized by Reed Exhibitions witnessed many international companies announcing their expansion plans in the region, particularly the UAE.

Participants at the expo said maintaining prices amid oversupply was among the key challenges and said new technology was playing a major role in generating cost efficiencies as well as driving demand.

"I believe the market will continue to grow every year at 10 per cent and will double in the next 10 years. We expect a consistent growth even amid cyclical economic changes worldwide," said John R. Knapp, President/CEO, US-based Mid-Mountain Materials, manufacturer of engineered thermal insulation barriers and seals that provide environmental protection, emissions control, and energy conservation.

The industry participants at the said exhibition they were particularly keen on tapping into opportunities arising in the Middle East.

According to a report by EC Harris, 117 major construction programs, worth over $1 trillion are planned for completion by 2030 in the region.

These projects involve a combination of retail, real estate, leisure, health, education asset development and also transport, communication and supporting social infrastructure systems.

Experts said that the Middle East, along with being the most attractive business ground due new projects worth billions of dollars, also gives a high cost advantage to manufacturers on account of low energy costs.

Big construction projects, which cost more than $1 billion, are due to peak in the UAE by 2016, according to EC Harris study, which found that projects worth $40 billion will be due for delivery in 2016. Participants in the ALUMINIUM MIDDLE EAST 2015 said they are keen to explore new opportunities in the region.

Amid over-supply, lowering production costs is a major focus among manufacturers and low energy cost drives them to this region, aluminium industry players said.

The market prospects remain bright and new technology is also playing a major role in bringing cost advantage to the manufacturers.

After a three-day run at the Dubai International Convention and Exhibition Centre (DICEC), the fourth edition of the biennial ALUMINIUM MIDDLE EAST concluded on Thursday on a successful note thus galvanizing the industry players with the prospects of new business, networking and collaboration in various domains.

"We are pleased with the exceptional industry response to the ALUMINIUM MIDDLE EAST 2015. The event has attracted the top global suppliers and regional attendance of key buyers, officials and experts have highlighted very positive growth indicators for this industry," said Daniyal Qureshi, Group Exhibition Director at Reed Exhibitions Middle East, organizers of the aluminium industry B2B platform.

Organized by Reed Exhibitions Middle East, the three-day biennial exhibition attracted nearly 200 exhibitors from 30 countries. Germany, Italy and China put up country pavilions at the exhibition which attracted over 4,000 industry professionals from 75 countries.