New Delhi: Powered by growth in automobile, real estate and power sectors, India's aluminium industry is poised for increased consumption with a projected growth of 8-9 per cent, analyst firm Investment Information and Credit Rating Agency (ICRA) says.
The current level of 0.8 kg per capita per annum consumption of the metal is fairly less as compared to other developing nations.
The domestic aluminum market, driven by electrical, automobiles and building segments, grew by 9.5 per cent in the fiscal year 2004-05.
The electrical sector has been the largest consumer of aluminium, accounting for 31 per cent of the total consumption in the domestic market.
The last three years have been the most exciting for aluminum production in the country with a compounded annual growth rate (CAGR) of 12.1 per cent.
The country's primary aluminium production capacity stands at around 0.9 million tonne, while the industry is operating at high capacity utilisations.
Major public and private players have embarked upon capacity expansion projects, as they fear that it would be difficult to meet the demand supply-gap, which may arise sooner or later.
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