As the rest of the world begins to recover from the effects of the Covid-19 pandemic at a relatively quickened pace, the aluminum industry is poised for an even quicker recovery. Multiple industries and sectors are beginning to discover aluminum’s functional and aesthetic qualities, and businesses are lining up to purchase aluminum products. Additionally, changes to the way many companies in the aluminum industry utilize energy sources in their production processes to meet green initiatives and combat climate change has made the metal even more attractive to eco-minded consumers. Despite these positives, the aluminum industry is also facing some pressing and significant challenges that will call for creativity and innovation in order to be overcome. To gain more aluminum industry insights, Mondi Aluminum has examined both the promising trends and potential drawbacks facing the aluminum industry in the near future.
The Multiple Benefits of Aluminum
Since the pandemic, several aluminum industry insights regarding the product’s increasing popularity have been gleaned. Multiple and varied sectors, including those in the transportation, energy, electronics, and building and construction fields (to name a few) have been inquiring, purchasing, and utilizing more and more alumnium products in recent years. These market trends are no doubt owing to the varied applications of aluminum, as well as its characteristics and qualities. Firstly, aluminum is lightweight, highly strong and durable (almost comparable to steel), and is resistant to rust and corrosion. This makes aluminum an ideal material for items such as building construction beams and supports, and road/transportation barriers. Additionally, aluminum is an excellent conductor of heat and electricity, which makes it a prime material for applications in the energy and electronics fields in the form of technical components and wiring.
Aluminum Industry Insights into Green Initiatives
In the so-called “Anthropocene Era,” increasing scrutiny is being paid to the impact the production, use, and disposal of aluminum and aluminum products is having on the environment. To fulfill increasingly stringent governmental laws and regulations and assure the public of its commitment to combating climate change, the aluminum industry has responded with several key initiatives. First, it has focused on recycling aluminum extensively. As a highly recyclable material (100% efficacy) aluminum loses none of its properties during the recycling process and can be remolded into any form that is needed. This allows the aluminum industry to conserve the resources (i.e. energy, natural habits, reduction of transport waste, etc.) involved with mining and processing raw materials such as bauxite. Additionally, the aluminum industry has made consistent and continual strides in implementing renewable and sustainable energy practices throughout all its operations, particularly production. This has made it one of the more environmentally conscious industries of the new millennium.
Of the multiple challenges identified by aluminum industry insights, chief amongst them was an increasingly complex and fragmented supply chain. Not only are raw and recyclable materials oftentimes difficult to collect, process, and sort, but geopolitical tensions have placed an added strain on supply chains. When considering that both Russia and China are some of the world’s leading producers of aluminum and aluminum-based products, it is easy to see how potential political tensions and conflicts could force Europe and North America to find viable alternatives for their aluminum needs. To sidestep what could be a significant bump in the road for the western world’s aluminum industry will require resourcefulness, innovation, perseverance, and creativity. For more information on the aluminum industry’s insights or to see what products we have to offer, contact Mondi Aluminum today.