China Aluminium Processing Summit 2020: Aluminium consumption in automobile to grow at 8.9% CAGR
Aluminium consumption in China’s automotive industry is expected to grow at a compounded annual growth rate (CAGR) of 8.9 per cent to 10.7 million tonnes by 2030. The news came after Tao Zhimin, auto sheet project manager at Nanshan Aluminium, said this at the China Aluminium Processing Industry Summit 2020.
Speaking at the 15th China International Summit in Yantai, Shandong province on Friday, June 12, Tao pointed out that China’s automotive industry in 2018 had consumed 3.8 million tonnes of aluminium, of which 72 per cent was for passenger vehicles.
By 2030, electric vehicles, including passenger vehicles, buses and e-bikes, are estimated to account for 34 per cent of China’s aluminium consumption in automobiles, said Tao.
Tao also predicted that aluminium consumption per unit is likely to climb as well throughout the next decade, in a bid to produce lightweight cars. Aluminium consumption in an internal-combustion-engine PV is expected to grow to 180 kg by 2025 and 223 kg by 2030, from 119 kg in 2018.
However, the global car production is likely to drop by 16 per cent in 2020 due to the adverse COVID-19 impact, said Tao.
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