New York, USA, Nov. 11, 2022 (GLOBE NEWSWIRE) — According to a research report published by Spherical Insights & Consulting, The Global Aluminum Scrap Recycling Market was valued at USD 5.60 billion in 2021 and is projected to reach USD 25.12 billion by 2030, growing at a CAGR of 8.16% during the period 2021-2030.
- Scrap Aluminum Recycling Market is growing at a CAGR of 8.16% from 2021 to 2030
- The Global Aluminum Scrap Recycling Market expected to reach USD 25.12 billion by 2030
- North America is expected to experience the fastest growth over the forecast period
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Recycling is an important factor in the continued use of aluminium, as it is one of the main characteristics of the metal, with considerable economic, ecological and social implications. More than half of all aluminum produced in the European Union (EU-25) comes from recycled raw materials, a trend that is expected to continue. Due to the increase in end-use demand and the lack of domestic production of primary aluminum in this region of the world, Europe has a strong interest in maximizing scrap collection and developing scrap processing and the most resource-efficient fusion processes. Due to increased energy constraints in this region, the need for aluminum recycling will grow even more in the future. Regardless of any legislative or policy initiative, the high intrinsic value of scrap aluminum has always been the main driver for recycling.
However, in addition to the apparent economics, growing environmental concerns and increased social responsibility, particularly over the past decade, have spurred recycling activities, as recycling uses only 5% of the energy necessary for the manufacture of primary aluminum. Key benefits such as energy saving and reduced environmental impact the aluminum recycling market is expected to grow in the forecast period.
The high cost of emissions associated with primary aluminum will be reduced by switching to secondary or recycled aluminum production. The automation and packaging sectors offer the best opportunities for the recovery of aluminum scrap. Aluminum is known for its near-infinite recyclability, which not only makes it perfect for reducing waste in general, but also provides an opportunity to reduce emissions within its industry. Bridging the gap in aluminum emissions technologies to accelerate deep decarbonization of direct emissions, a new report from the Aluminum for Climate Initiative highlights the need for breakthrough technology to reduce direct emissions in aluminum manufacturing. ‘aluminum.
Browse key industry information spread across 220 pages with 119 market data tables, plus figures and charts from the report Global Aluminum Scrap Recycling Market Size, Share and Trends, COVID-19 Impact Analysis Report, by Type of Aluminum Scrap (Cast Aluminum, Aluminum Cans, Aluminum Sheet and Others) ), by category (new waste, old waste), by application (building and construction, automotive, electronics, machinery and equipment packaging and others), and by region (North America, Europe, Asia-Pacific, Latin America , Middle East and Africa), analysis and forecasts 2021-2030 in detail with the table of contents https://www.sphericalinsights.com/reports/aluminum-scrap-recycling-market
However, when it comes to decarbonizing the aluminum industry, production emissions are only part of the story. To significantly reduce the demand for high-carbon primary aluminum, the industry must increase circularity. According to the International Aluminum Institute (IAI), global demand for aluminum will increase by more than 80% by 2050. Primary production is responsible for approximately 90% of current aluminum emissions. Secondary or recycled aluminum, on the other hand, consumes only 5% of the energy required for the initial manufacture.
In addition, after the COVID-19 pandemic, the global demand for aluminum will increase by 40 percent. Requires additional production of 33.3 million tonnes, meaning metal production should ideally increase from 86.2 million tonnes in 2020 to 119.5 million tonnes through 2030. Demand from China is expected to be 12.3 million tons, while that of the rest of Asia 8.6 million tons.
|Market size 2030||$25.12 billion|
|Forecast units||Value (USD billion)|
|Segments Covered||By Aluminum Scrap Type, Category, Application and Region|
|Report cover||Drivers, Revenue Forecasts, Competitive Landscape, Growth Factors and Trends|
|Geographical areas covered||North America, Europe, Asia-Pacific, Latin America, Middle East, Africa and Rest of the World|
|Top Profiled Companies/Suppliers||Sims Metal Management Kuusakoski Recycling DOWA HOLDINGS Co., Ltd. ArcelorMittal SA REAL ALLOY Commercial Metals Company Aurubis AGS TRIMET Aluminum Nupur Recyclers Arfin India Ltd,|
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This study forecasts the global, regional and country revenue from 2019 to 2030. Spherical Insights has segmented the global market Aluminum Scrap Recycling Market based on the segments mentioned below:
Aluminum Scrap Recycling Market By type of aluminum scrap
- Aluminium fusion
- Aluminum cans
- Aluminum foil
Aluminum Scrap Recycling Market By category
Aluminum Scrap Recycling Market By app
- Building construction
- Packaging of machinery and equipment
North America and Europe will represent 5.1 million tonnes and 4.8 million tonnes respectively. Hence, with the increase in the growth of aluminum applications, the increase in the demand for scrap aluminum recycling during the forecast period. Moreover, after the COVID-19 pandemic, the scrap aluminum recycling market is carried out by the government. Hence, the scrap aluminum recycling market is witnessing significant growth in fiscal year 2021 or COVID-19 pandemic.
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
SCRAP ALUMINUM RECYCLING MARKET: KEY PLAYERS
- Metal Sims Management
- Kuusakoski Recycling
- DOWA HOLDINGS Co., Ltd.
- ArcelorMittal SA
- REAL ALLOY
- Metal trading company
- Aurubis AGS
- TRIMET Aluminum
- Nupur Rebreathers
- Arfin India Ltd
- Palco Recycle Industries
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- May 2019 – Nucor Corporation announced a capital investment in its bar mill in Darlington, SC, which will add vacuum degassing to its bar manufacturing capabilities. Adding this capacity will allow the plant to produce engineered bar products that meet some of the strictest quality specifications in the industry. The vacuum degassing system is expected to enter service at the end of 2020.
- May 2019 – Aurubis AG has acquired the Belgian-Spanish group Metallo in order to more aggressively pursue its multi-metal and recycling strategy. With its attractive growth potential, the acquisition strengthens the company’s multi-metals portfolio, particularly in the key metals of copper, nickel, tin, zinc and lead.
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