Gulf investments in the aluminium sector are expected to reach $55 billion by 2020, compared to $30 billion in 2011, according to a new report.
The surge is credited to smelters’ expansion and new projects in the region, a Harbor Intelligence report said.
With its widening scope, the Middle East aluminium industry will come under the global spotlight as the fourth edition of the “Aluminium Middle East” exhibition next year.
To be held under the theme of “Forging Connections… Building Possibilities”, the exhibition is expected to attract over 200 exhibitors from 25 countries.
The expo will be held from April 14 to 16, 2015 at Dubai International Convention and Exhibition Centre (DICEC).
The biennial event will help the aluminium industry reach a new level of growth and cement its position as a powerhouse of the world aluminium industry by bringing together top regional and international producers, suppliers and investors, said a statement.
The number of visitors at the 2015 edition is also expected to reach 4,000, a 14 per cent increase over the last edition, which attracted 3,523 visitors.
With aluminium production volume in the Gulf region expected to increase to 5 million tonnes by 2015, accounting for 17.5 per cent of the total global output, the Middle East would be the fastest growing aluminium market in the world, the report said.
Statistical data showed that the Gulf aluminium industry is growing by 8.4 per cent annually, compared to an average annual global expansion of 3.5 per cent.