World aluminum demand to twice in next 10 years

World require for aluminum will twice in the next decade, determined by growing use in aircraft, Road transport and comfort cars, the head of major European goods maker Amag said on Monday. 'We estimate that require for aluminum will twice within the next 10 to 12 years, so a worldwide growth rate of 7 per cent. This is a pleasant picture,' Gerhard Falch, the Austrian aluminum group's chief administrative, told Reuters. Demand for its goods has put the company on objective to match or beat 2010's evidence year for pay. 'At smallest amount, we will be in line with the results of the record year of 2010,' he said.

Earnings before interest, taxes, depreciation, and paying back were 139.0 million Euros ($197 million) last year. Amag, capitalized at $865.35 million next an April list in Vienna, makes semi-finished aluminum goods out of area of expertise alloys used in BMW motors, aircraft, skis, construction, and Bentley and Rolls Royce cars. It moreover holds a piece bet in a hydro-electric aluminum smelter in Canada.

Approximately 85 per cent of the group's goods are for export, the lion's share to Western Europe. It is moreover effective to lift market share in Eastern Europe, as well as in China and India. Per capita aluminum spending in Europe and the U.S. stands at 5-8 times that of rising markets. Their catching up is probable to be a key driver of require enlargement, he said. This year, Amag expects worldwide utilization of primary aluminum to increase 9 per cent to 44.6 million tones, and that for flat rolled products to raise 8 per cent to 20.0 million tones. From the aircraft sector, insist is seen rising 9.1 per cent, followed by transport sector growth -- ships and railways -- by 8.0 per cent, and engineering and production growth at 5.6 per cent.

'Growth in our results has come on one hand from the most important aluminum side, and on the other side it is require for high quality alloys for an increasing variety of applications,' Falch said. In exacting, he said the European auto transportation sector has not presently stabilized but also enthusiastic up; next to insist for lighter and additional highly specialized aluminum-based materials. In 2010, Amag produced around 220,000 tons of rolled and cast products. It plans to expand capacity to around 280,000 tons by 2014. In the first quarter its metal division shipped 22,235 tons of aluminum.