China Aluminium Processing Summit 2020: China Al consumption in automobiles to exhibit a CAGR of 8.9% by 2030

China Aluminium Processing Summit 2020: China Al consumption in automobiles to exhibit a CAGR of 8.9% by 2030

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SHANGHAI, Jun 12 (SMM) – Aluminium consumption in China’s automotive industry is expected to reach 10.7 million mt by 2030, with a compounded annual growth rate (CAGR) of 8.9% between 2018 and 2030, according to Tao Zhimin, auto sheet project manager at Nanshan Aluminium.

Speaking at the 15th China International Aluminium Processing Industry Summit in Yantai, Shandong province on Friday June 12, Tao said that China’s automotive industry consumed 3.8 million mt of aluminium in 2018, with 72% in passenger vehicles.

By 2030, electric vehicles, including PVs, buses and e-bikes, will account for 34% of China’s aluminium consumption in automobiles, Tao predicts.

To lightweight cars, aluminium consumption per unit is set to continue to climb in the next decade. Aluminium consumption in an internal-combustion-engine PV is expected to reach 180 kg by 2025, and 223 kg by 2030, compared with 119 kg in 2018, according to Tao.

As for COVID-19, Tao expects global car production to drop 16% in 2020 due to the fallout from the pandemic.

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