IAI: Aluminum demand to increase by 80% by 2050
According to the forecast of the International Aluminum Institute (IAI), the global aluminum demand will increase by 80% by 2050, with an annual need exceeding 170 million tons.
However, IAI said that the carbon dioxide emissions during the aluminum production process must be slashed by 80% within 30 years in order to avoid global warming. The cost was expected to be US$0.5-1.5 trillion or US$16.7-50 billion per year, accounting for around 8.5-25% of the industry’s income.
Besides, IAI pointed that the increase in the aluminum recycling rate will reduce the demand for raw metals to less than 90 million tons per year, while the annual output might surpass 80 million tons by 2050.
