Aluminum production in Australia has seen a general decline from 2013 to 2023. In 2023, the volume stood at 1.49 million metric tons. From 2013 to 2023, there were notable decreases with occasional minor recoveries, such as in 2018. The year-on-year variations indicate a mostly negative trend, with annual decreases ranging from 0.67% to 9.05%. The overall CAGR for the past 5 years up to 2023 was -1.15%, suggesting a steady downward trend.
Looking ahead, forecasts predict a continued gradual decline in aluminum production, decreasing by an average of 1% per year over the next five years, culminating in a projected volume of 1.39 million metric tons by 2028. This decline equates to a total reduction of approximately 4.92% over the forecasted period.
Future trends to watch for:
- Technological advancements in aluminum smelting and refining may boost efficiency.
- Government policies on environmental regulations and sustainability efforts could impact production processes.
- Global aluminum market dynamics, including demand from sectors like automotive and construction, may influence production levels.
- Possible shifts in energy costs which are a significant factor in aluminum production costs.
