Viet Nam's Aluminium Industry Aims for Major Expansion by 2030
Viet Nam's aluminium industry has witnessed remarkable growth, with production nearing 1.5 million tonnes in 2024. However, the sector faces challenges and is under pressure to adopt greener practices, while also aiming for significant expansion by 2030.
Lam Dong Aluminum Company leads the industry in Lâm Đồng Province. Despite the presence of major investors, the sector grapples with financial constraints, a skills shortage, outdated technology, and a limited product range. Viet Nam targets substantial increases in bauxite, alumina, and primary aluminium output by 2030, aiming for 114-118 million tonnes of bauxite, 11.6-18.6 million tonnes of alumina, and 120,000-150,000 tonnes of primary aluminium.
Meanwhile, global aluminium markets are tightening due to European smelter closures and China's production cap. Viet Nam's domestic market is projected to reach $4.53 billion by 2025, riding on the wave of surging global demand, expected to increase by 40% by 2030. With estimated bauxite reserves of 5.8 billion tonnes, Viet Nam is poised to become a major player in the global aluminium industry.
Viet Nam's aluminium industry, despite challenges, is expanding rapidly and aims for significant growth by 2030. The global market's tight supply and soaring demand present opportunities for Viet Nam to become a key player in the aluminium industry.
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