The aluminum consumption of China's automobile industry will increase from 3.8 million tons in 2018 to 9.1 million tons in 2030

The Assessment Report on Aluminum Consumption in China's Automobile Industry (2016-2030) was released recently. The Report believes that from now to 2030, China's automobile industry is likely to undergo a huge transformation from fuel vehicles to new energy vehicles. As the preferred material for Chinese automobile manufacturers to reduce vehicle weight, aluminum has made good use of this change. Although the prospects for the number of fuel vehicles remain unchanged, the weight reduction measures are likely to increase the unit consumption of aluminum in vehicle manufacturing, thus promoting consumption growth. The Report predicts that the aluminum consumption of China's automobile industry will increase from 3.8 million tons in 2018 to 9.1 million tons in 2030, with a CAGR of 8.9%.