Recycled Aluminum Market By Scrap Type (Wire Scrap, Extrusion Scrap, Sheet Scrap, Turnings and Borings, Others), By End User (Building and Construction, Automotive, Electronics, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The recycled aluminum market was valued for $49.1 billion in 2022 and is estimated to reach $101.7 billion by 2032, exhibiting a CAGR of 7.6% from 2023 to 2032.
Recycled aluminum refers to aluminum that has been recovered and processed from post-consumer or post-industrial waste materials rather than being extracted from raw sources such as bauxite ore. It involves collecting aluminum scrap, such as beverage cans, automotive parts, construction materials, and industrial waste, and then processing it to remove impurities and contaminants.
The recycling of extrusion scrap helps conserve resources, reduce energy consumption, and minimize the environmental impact associated with primary aluminum production. This factor is the major key market trend in the recycled aluminum market. Moreover, recycling aluminum from extrusion scrap has numerous environmental benefits. It helps reduce the impact of mining operations, which often involve habitat destruction, deforestation, and soil erosion. Recycling helps decrease pollution associated with primary aluminum production, such as greenhouse gas emissions, air pollutants, and water contamination. By recycling, these environmental impacts can be mitigated. These factors altogether have surged the aluminum recycling activities from extrusion scrap; thus, boosting the market growth.
Furthermore, aluminum is a valuable and limited natural resource. Recycling aluminum from sheet scrap helps conserve this resource by reducing the need for primary aluminum production from bauxite ore. Recycling can extend the lifespan of the existing aluminum stock and reduce the environmental impact associated with mining and extracting new aluminum. This factor has surged the aluminum recycling activities from sheet scrap; thus, boosting the market growth. Moreover, recycling aluminum from sheet scrap requires significantly less energy compared to producing aluminum from raw materials. The energy-intensive processes involved in mining, refining, and smelting bauxite to produce primary aluminum are bypassed when recycling. It is estimated that recycling aluminum saves around 95% of the energy required for primary aluminum production. This energy efficiency leads to reduced greenhouse gas emissions and contributes to a lower carbon footprint. These factors altogether may lead the aluminum recycling process to witness a significant growth.
However, recycled aluminum may contain impurities or contaminants, such as paints, coatings, or other materials. These contaminants can affect the quality and performance of recycled aluminum, making it less desirable for certain applications. Sorting and removing contaminants can be a costly and challenging process, impacting the growth of the recycled aluminum market potential.
On the contrary, surge in global demand for sustainable materials and a shift toward a circular economy has been witnessed. Recycled aluminum aligns with these trends as it offers reduced environmental impact and resource conservation. The increase in focus on sustainability and eco-friendly practices presents a significant opportunity for the growth of the recycled aluminum market. Moreover, governments across the globe have implemented policies and regulations to promote recycling and the use of recycled materials. These initiatives can include recycling targets, tax incentives, and green procurement policies. The support of governments through favorable regulations and incentives can create a conducive environment for the growth of the recycled aluminum market.
The recycled aluminum market is segmented on the basis of scrap type, end user, and region. On the basis of scrap type, the market is categorized into wire scrap, extrusion scrap, sheet scrap, turnings & borings, and others. On the basis of end-user, it is divided into building and construction, automotive, electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global recycled aluminum market profiles leading players that include Novelis Inc., Norsk Hydro ASA, JAIN RESOURCE RECYCLING PVT LTD., Constellium, Stena Aluminium, COHEN, REAL ALLOY, GAL Aluminium Extrusions Pvt. Ltd., STEINERT Global, and Kuusakoski oy. The global recycled aluminum market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the recycled aluminum market analysis from 2022 to 2032 to identify the prevailing recycled aluminum market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the recycled aluminum market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global recycled aluminum market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Scrap TypeWire Scrap
Extrusion Scrap
Sheet Scrap
Turnings and Borings
Others
By End UserBuilding and Construction
Automotive
Electronics
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
COHEN
Constellium
GAL Aluminium Extrusions Pvt. Ltd.
JAIN RESOURCE RECYCLING PVT LTD.
Kuusakoski oy
Norsk Hydro ASA
Novelis Inc.
REAL ALLOY
STEINERT Global
Stena Aluminium
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