Norwegian aluminum producer Norsk Hydro said that the demand for low-carbon aluminum will grow by 20% annually by 2030 as customers, such as carmakers, construction firms, and packaging companies, are seeking to reduce carbon dioxide emissions.
The demand for low-carbon aluminum was expected to surpass other markets, with an estimated compound annual growth rate (CAGR) of 20% during the period from 2022 to 2030.
Forecasting a higher demand for low-carbon aluminum, Hydro said that the recycling of post-consumer scrap was also expected to increase to 620,000-770,000 tons by 2027 from 140,000 tons per year.
It was expected that low-carbon and recycled aluminum will account for a large share of the EU and American market in 2030.
Norsk Hydro: Demand for low-carbon aluminum to grow by 20% annually by 2030
19 Dec 2022 15:59 reported by Joy Liu
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