Alumina production in Vietnam showed significant growth from 2013 to 2023, increasing from 214.0 thousand metric tons to 1700.0 thousand metric tons. The year-on-year growth rates demonstrate high volatility, with peaks in 2014, 2017, and 2021, and notable dips in 2016 and 2020. The average annual growth rate over the past five years, up to 2023, stands at 4.99%, indicating a steady albeit slower increase compared to previous periods.
Forecasting from 2024 to 2028, alumina production is expected to continue its upward trajectory, reaching 2130.0 thousand metric tons by 2028. The forecasted compound annual growth rate (CAGR) of 3.57% suggests a more moderate but consistent growth pattern, with an overall forecasted growth rate of 19.19% for the period.
Future trends to watch for include:
- Shifts in global demand for alumina and aluminum production.
- Technological advancements in production processes.
- Environmental regulations impacting production capacities and costs.
- Investment in infrastructure and capacity expansion within Vietnam’s alumina industry.
