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It was predicted by Fitch Solutions Macro Research (FSMR) analysts that the world will face the issue of aluminum oversupply after 2026. However, before 2026, the increase in demand for aluminum will exceed the production growth since there will be a shortage of primary aluminum supply in the global market.

The increase in global aluminum demand was mainly attributed to stable growth in the construction industry and the growing demand in the automobile industry.

According to the forecast by FSMR, from 2019 to 2023, global market will be in a shortage or balance, and the global aluminum will continue to grow since the hike in prices will stir a higher production.

In 2019 to 2028, FSMR expected that global aluminum production to have an average increase of 2.7%, which was slightly lower than the average growth rate at 5% in the previous 10 years.