'Aluminium industry to double in 10 years'

The size of global aluminium industry is expected to double within the next 10 years even as maintaining prices amid periodic economic changes is a major challenge facing it, according to experts.

With projects worth billions of dollars in the pipeline, the Middle East is among the key markets offering numerous attractive opportunities, experts at three-day Aluminium Middle East 2015 event said. Noting that new technology was playing a major role in generating cost efficiencies as well as driving demand, the experts at the event said maintaining prices amid oversupply was among the key challenges facing the industry.

"With numerous projects in the pipeline, the Middle East is clearly a high growth market offering tremendous opportunities to industry worldwide," said Suneel R Mardia, CEO MTLEXS.COM, India's first non-ferrous e-market place. Optimistic about growth prospects, the industry participants said they were particularly keen on tapping into opportunities arising in the Middle East. According to a report by EC Harris, 117 major construction programs, worth over USD 1 trillion are planned for completion by 2030 in the region.

These projects involve a combination of retail, real estate, leisure, health, education, transport, communication and supporting social infrastructure systems. PTI CORR MRJ 04201442.