Global Secondary Aluminum Alloy Market

The secondary aluminum alloy market is anticipated to grow with a CAGR of 5.15% over the forecast period, i.e., 2023-2035. Key factors contributing to the growth of the market include rising demand for sustainable products, increasing awareness around material recycling, and the cost-effectiveness of using recycled aluminum. Further, the rapid industrialization and urbanization in developing economies are also estimated to accelerate the growth of the market in the coming years. The market is estimated to garner a revenue of USD 165.44 billion by the end of 2035 up from a revenue of about USD 86.40 billion in the year 2022.

The secondary aluminum alloy market is segmented into numerous segments, which include segmentation by type, strength, end-user industry, and region. By strength, the market is categorized into low-strength aluminum alloys, high-strength aluminum alloys, and ultra-high-strength aluminum alloys. By the end of 2035, the high-strength aluminum alloys segment is anticipated to garner the largest revenue of around USD 106.65 million, up from a revenue of USD 53.58 billion in the year 2022.

On the basis of region, the secondary aluminum alloys market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The market in Asia-Pacific, amongst the market in all the other regions, is anticipated to garner the largest revenue of USD 108.36 billion by the end of 2035. Moreover, in the year 2022, the market in the region generated a revenue of USD 52.09 billion.

Some of the prominent industry leaders in the global secondary aluminum alloys market that are included in our report are Daiki Aluminum Industry Co., Ltd., Century Metal Recycling Limited, Kawashima Co., Ltd., Superior Aluminum Alloys, LLC, Alucast, Metal Exchange Corporation, Keiaisha Co., Ltd., Novelis, Shin Wen Ching Metal Enterprise., Ltd., Sunalco Industries Pvt. Ltd., Matalco Inc., and, BERMCO Aluminum.