European Union (EU) member states have recently expanded the scope of the Critical Raw Materials Act (CRMA) to encompass aluminium, acknowledging its significance in the context of the global race to decarbonize and ensuring the EU's competitiveness against the United States and China.
The initial exclusion of aluminium from the CRMA sparked outrage within certain sectors of the industry. The Federation of Aluminium Consumers in Europe criticized EU policymakers for their actions, asserting that they were contrary to the necessary measures.
However, in a last-minute decision, the EU included aluminium, along with its upstream components of bauxite and alumina, in the list of critical raw materials. This inclusion serves as evidence of the pivotal role of aluminium in driving the green revolution and highlights the growing concerns regarding Europe's fragile supply security.
Due to its excellent strength-to-weight ratio, aluminium has already secured its position as the second most widely utilized metal, following steel.
Anticipated growth in aluminium usage is expected to surge in the coming years, primarily driven by the accelerating energy transition.
Recognizing its significance, the World Bank has classified aluminium as a "high-impact" and "cross-cutting" metal, with its applications spanning across existing and potential green energy technologies, ranging from solar power to geothermal energy.
Aluminium is set to play a crucial role in the advancement of electric vehicles through the process of lightweighting. This innovative approach enables automakers to maximize the efficiency of lithium-ion batteries, thus increasing the mileage achievable by electric vehicles.
