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Aluminium energy transition outlook 2024
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Report summary
Aluminium will play an important role in achieving energy transition-related goals. The rapid development of clean technologies such as solar, wind, energy storage and electric vehicles plus related infrastructure will underpin future aluminium demand. The impact to total demand will be even larger if the deployment of clean energy is faster under the Net zero and Pledges scenario compared to the base case (ETO). As well as being part of the solution to a decarbonised world, aluminium is also part of the problem given the high carbon intensity of primary metal production. The shift to a low-carbon primary smelting industry will not be easy. A balance will need to be struck between greater use of aluminium and lowering its intrinsic carbon footprint. Scrap and secondary aluminium will be central to the industry’s decarbonisation efforts, but this will come at a cost for producers and consumers alike.
Table of contents
- What are the implications for aluminium demand?
- How will the supply side respond?
- Scrap and secondary use will rise under Net zero
- What does the Net zero and Pledges scenario mean for prices?
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What's included
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