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Saudi Arabia will be the Middle East's largest aluminum products market in 2015
Addtime :2016-05-17 09:32:32  Views:

 In recent years, the Saudi government has been committed to adjust the economic structure, development of non-oil industry, reduce the oil industry in the proportion  of gross domestic product (GDP). But the country's abundant energy reserves for refining aluminum and other energy-intensive industrial development provides a unique advantage. In economic diversification policy macro guidance and Saudi domestic demand for aluminum products in the market in mind, by 2015, Saudi Arabia will become the largest aluminum products market in the Middle East.
 
      In addition to a large number of daily consumption of aluminum kitchen utensils and appliances, construction industry is a high demand for all kinds of aluminum products Saudi aluminium smelting rapid development of one of the main driving force. In recent years, with aluminum alloy doors and Windows, walls and the wide application of inside and outside decoration, the Saudi market has boosted the demand for architectural aluminum, over the next five years will be 9% compound growth rate of growth, increased to $1.442 billion from $2010 in 920 million. Overall, the Saudi aluminium market is expected to be grown from $2010 in 27 billion to $2015 in 44 billion, the average rose more than 10%.
 
      In terms of downstream products, Saudi Arabia currently is one of the largest aluminum products processing base, the Middle East more than 100 aluminum products processing plants, one of the main five profiles factory total annual output is more than 144000 metric tons. However, Saudi Arabia is committed to become one of the most main upstream producers in the Middle East, and subsequently announced three smelters construction plan, a total investment of more than $19.5 billion. By 2016, the project can be realized with annual capacity of 2.4 million metric tons of aluminum ingots.
 
      In view of the question about the global aluminum market excess capacity, Saudi Arabia, said an official with the mining company of Saudi Arabia the stable development of economy is a powerful guarantee for demand for aluminum products. In addition, the use of general refinery cycle in 50 years, combined with the Saudi energy price advantage, so in the long term Saudi aluminum smelting have greater profit space, and better able to resist market risk.
 

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