Gulf region’s investments in the aluminium sector are forecast to reach US$55 billion by 2020, compared to US$30 billion in 2011, thanks to smelters’ expansion and new projects in the region, according to organisers of Aluminium Middle East exhibition, will be held between 14-16 April, 2015 at Dubai International Convention and Exhibition Centre (DICEC).
Statistical data shows that the Gulf aluminium industry is growing by 8.4 per cent annually, compared to an average annual global expansion of 3.5 per cent, 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 3,739,290 tonnes, in 2012 compared to 3,488,357 tonnes in 2011 and is expected to increase to 5 million tonnes by 2015, making the Gulf region the biggest single player worldwide, the organisers of the event added.
Organisers of Aluminium Middle East exhibition say 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 aluminium industry contributes significantly to the region-wide efforts to diversify economies beyond oil and gas. With widening scope, facilities and capabilities, the sector has helped increase foreign trade, create more jobs and expand regional economies.
Spanning through a wide range of industries, including transportation, aerospace, aviation, packaging and construction, aluminium is a prerequisite for industrialization in the Gulf region.
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 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 fourth 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.
Source : WAM News Agency for United Arab Emirates
