Alcoa Inc., the biggest U.S. aluminum producer, says world demand for the light metal will double by 2020 driven by economic growth in Asia, Brazil and the Mideast and rising standards of living that will call for more cars and aircraft.
CEO Klaus Kleinfeld says that China will be leading the way with an average annual increase in demand of six per cent over the decade. It is the world's largest aluminum producer, but will soon become a net importer as the government struggles to improve environmental performance and conserve electric power resources.
Alcoa, which has more than one million tonnes of annual smelting capacity in Quebec, estimated world demand in 2011 will rise about eight per cent, with China leading with a gain of 12 per cent.
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