Despite concerns of low prices and poor demand, the aluminium market still has growth potential due to the automotive industry, McKinsey & Company's Benedikt Zeumer said at Fastmarkets' International Aluminium Conference held in Athens, Greece.
The fastest growing underlying factor to global aluminium growth is the global automotive sector, Zeumer said. McKinsey's outlook does not indicate that the aluminium share in cars is likely to increase dramatically, rather that aluminium use will remain a constant, stabilizing demand and providing support for the aluminium industry. "We see a reduction in aluminium usage from first generation battery electric vehicles (BEV) to the second-generation models but there is still heavy use in premium BEVs," Zeumer said."The average aluminium content in cars will have to move to higher levels anyway. Although there will be an increase in BEVs, they're unlikely to overtake most cars so the classic...