Giant Wheels Driving Aluminium Consumption in Italy
Released on: September 4, 2008, 1:41 am
Press Release Author: Shushmul Maheshwari
Press Release Summary: Italy has emerged as a big aluminium consumer in Europe, with its primary aluminium consumption shooting at a CAGR of 4.7% due to the presence of heavy-weight automobile players in the country.
Press Release Body: According to a new research report by RNCOS, “European Aluminium Market Analysis”, aluminium industry plays a very important role in the European economy as it is a direct or indirect source of employment for millions in the continent and helps in infrastructure development. And in Europe, Italy has made its place as a major aluminium consumer, with its domestic primary aluminium consumption far exceeding it’s the production.
High aluminium consumption in Italy is primarily due to indigenous aluminium users – the world-renowned car manufacturers that include Fiat, Alfa Romeo and Ferrari, and motorcycle manufacturers like Piagio and Ducati, as per the research. So the primary aluminum consumption in the country inflated at a CAGR of over 4.7% from 2002 to 2006.
However, as per the report, the domestic production of primary aluminium in Italy is not sufficient to meet the demand. As a result, many aluminum-based industries heavily depend on imported primary aluminum. Soaring domestic demand pushed the imports of primary aluminium in 2006 up by 11% to 1 Million Metric Tons over 2005. In future also, Italy is expected to import a big chunk of primary aluminium though the domestic production will contribute a significant share in the overall consumption. In view of rising domestic consumption, Italian imports of primary aluminium are forecasted to grow at a CAGR of 3.2% during 2008-2011.
Other than Italy, “European Aluminium Market Analysis” provides a detailed account on other European countries like Germany, the UK and Russia. It extensively studies the European aluminium industry in context of the global aluminium industry and evaluates the production and consumption levels, economic stability and future growth prospects of all European countries and identifies the factors adding growth to the market. It finds out the various opportunities emerging from the aluminium market of Europe and outlines the challenges that are ceiling the market growth.
The current performance is supported by forecast on primary aluminium consumption, production of primary & secondary aluminium, primary aluminium import, aluminium foil market and new car sales.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today\'s globally competitive environment.
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