There has been a constant strive to evaluate the future of the global aluminium industry since the time the COVID-19 pandemic set in and affecting the industrial manufacturing businesses. The Indian aluminium sector could neither escape its prey, having the consumption declined by 15 per cent during the financial year 2021. Unprecedented lockdowns, manpower shortages, and supply chain disruptions due to the pandemic have resulted in severe challenges across all the verticals of the aluminium value chain.
In this scenario, AlCircle is determined to delve into the current market trend to be able to envisage the future in their latest report on “Outlook for the Indian Aluminium Industry - In-depth industry analysis & forecast to 2026-27”. The report shows the aluminium usage is estimated to rebound to 3.5 million tonnes in FY2022 from 3.19 million tonnes in FY21 as the industry embarks on the recovery path striving to reach pre-Covid levels. And over the next five years to 2026-27, the aluminium usage in India is forecast to grow at a CAGR of 6.7 per cent to reach at 4.84 million tonnes.
The report also indicates the potentiality of the industry to build on new export opportunities that have opened up since early 2020. India’s primary aluminium exports jumped from 250,000 tonnes in 2010-11 to 2.3 million tonnes in 2020-21, found the research data.
India, being one of the major markets for aluminium flat rolled products (FRP) in the world, is expected to see a surge in demand for FRP, including foilstock, at a CAGR of 7.2 per cent to reach at 815,000 tonnes by 2026-27. The packaging sector is estimated to continue as the mainstay application for the FRP, which will likely grow to 335,000 tonnes by FY2027.
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