Story
Maaden Executive Sees Saudi Aluminium Demand Nearing Double by 2030
Summary
A senior executive at Saudi Arabian Mining Co (Maaden) projects domestic aluminium demand will surge to 1.8 million metric tons by 2030, driven by construction for major events like the 2034 World Cup.
Saudi Arabia's domestic demand for aluminium is expected to climb to as much as 1.8 million metric tons annually by 2030, a significant increase from the current 1 million metric tons, a senior executive at Saudi Arabian Mining Co (Maaden) said Wednesday.
Demand Drivers and Projections
Speaking at the Fastmarkets International Aluminium Conference in Budapest, Ahmad al-Alshaikh, Maaden's executive vice president for aluminium, projected that demand could potentially double within the next five to seven years. He attributed the anticipated growth to massive infrastructure projects planned within the Kingdom.
Key drivers include preparations for major international expositions and the 2034 FIFA World Cup. The World Cup alone will necessitate the construction of 15 new stadiums, fueling significant demand for the lightweight metal, al-Alshaikh noted.
Maaden's Market Position
AdMaaden is a key supplier to the domestic market, selling approximately 85% of its output within Saudi Arabia. The company's current production capacity stands at around 780,000 tons of primary aluminium and about 1 million tons of cast metal per year.
The forecast suggests a substantial growth opportunity for Maaden and the broader Saudi industrial sector, as the country's development agenda, known as Vision 2030, continues to spur construction and manufacturing activity.
Regional Impact
Addressing regional issues, al-Alshaikh stated that the "Iran war" has had a limited effect on Maaden’s operations, according to the source report. He added that member countries of the Gulf Cooperation Council have been collaborating to mitigate the impact of regional tensions.
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