A lot of time has passed since 2008 financial meltdown but the developed world financial markets and even the industry is far from normal. Infact, now instead of calling today’s industry situation as ‘depressed’, a new term ‘new normal’ has emerged.
Of course industry fortunes differ from region to region and MENA (Middle East & North Africa) is one of the most prospective regions as far as the industrial growth is concerned. The oil price crash did affect this region for the last one or two years but nobody can deny the fact that the region offers tremendous potential on a long-term basis. Today, it is considered as one of the few growing economies in otherwise financially stressed world.
The industrial growth of MENA region is lead by the mega infrastructure and construction projects spread all over. Yes, the projects did get a jolt when oil price crashed and liquidity shrinked but now with somewhat better oil prices, these projects are expected to move forward.
Along with the huge quantity of steel required for such infrastructure projects, a good amount of non-ferrous metals too are consumed. Especially, the metal of 21st century, aluminium is used in many forms. Extrusions are used for panels, intricate shapes, wires are used as conductors, castings are used as auto and machinery parts, foils are extensively used in food and insulation industry etc. The technology and the processing of aluminium products have undergone a sea change in last decade or so. A lot of new trends in production and applications are emerging. The customer industries include power, aerospace etc. The use of technologies like simulation, 3D printing is expected to completely change the face of aluminium industry in coming years..The GCC region offers the best environment for the growth of aluminium industry. A huge primary metal producing capacity, numerous downstream industries and a promising marketplace.
India has vast reserves of bauxite. If the economic activity increases and infra projects & construction activity take a leap in coming years, the demand for steel and metals will increase manifold. This will surely give a big boost to non-ferrous metal production. Aluminium, the metal of 21st century, has tremendous growth potential and will certainly shine!