EGA targets future global aluminium demand at us symposium
UAE-based aluminium giant well placed for market opportunities
United Arab Emirates, 25 January 2015: The strength of Emirates Global Aluminium (“EGA”) in being able to meet future primary global aluminium demand was highlighted during the Platts Aluminium Symposium 2015, which was staged in Scottsdale, Arizona from 18 to 20 January.
Speaking at the symposium, of which EGA was one of the sponsors, Adel Abubakar (Managing Director of DUBAL America Inc.) told delegates how statistics show the Americas and Asia - both key EGA markets - will provide the major sources of growth in primary aluminium demand.
“Global primary aluminium demand is expected to grow at a Compound Annual Growth Rate (“CAGR”) of 7.6% from 2014 to 2017 with statistics indicating that Asia and the Americas will generate the greatest share of aluminium demand in the next few years,”said Abubakar, citing industry analysts. “In 2014, EGA exported 40 per cent of its production to Asia, while 12 per cent went to the Americas, meaning that 56 per cent of EGA’s total production was shipped to the two regions forecast to create the greatest demand in the coming few years. We’re well placed to achieve further market share.”
Abubakar added that substantial future growth will be in value added products - a niche focus for EGA, where about 85 per cent of the 2.4 million tonnes manufactured each year comprises re-melt products, billets and slab-”With the UAE-based EGA ranking among the top five primary aluminium producers in the world and being a significant exporter to world markets, EGA is in a strong position to leverage the continuous growth in demand forecast for primary aluminium,” he said.
EGA also leveraged its participation at Platts 2015 to further promote the EGA brand and to network with industry colleagues and clients.