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.
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 Stakeholders
- This 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 Segments
By Scrap Type
- Wire Scrap
- Extrusion Scrap
- Sheet Scrap
- Turnings and Borings
- Others
By End User
- Building and Construction
- Automotive
- Electronics
- Others
By Region
- North 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
Please note:
- Online Access price format is valid for 60 days access. Printing is not enabled.
- PDF Single and Enterprise price formats enable printing.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: RECYCLED ALUMINUM MARKET, BY SCRAP TYPE
CHAPTER 5: RECYCLED ALUMINUM MARKET, BY END USER
CHAPTER 6: RECYCLED ALUMINUM MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Recycled Aluminum Market,' The recycled aluminum market was valued at $49.1 billion in 2022, and is estimated to reach $101.7 billion by 2032, growing at 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. It is a sustainable and environmentally friendly alternative to primary aluminum production. The process involves collecting aluminum scrap, sorting, and processing it to remove impurities, melting it down, and shaping it into various forms for reuse. Recycled aluminum retains the same properties and characteristics as primary aluminum, making it suitable for a wide range of applications. By using recycled aluminum, we can conserve natural resources, reduce energy consumption, minimize waste, and contribute to a more sustainable and circular economy.
factors such as increase in disposable income, technological upgrades, and spurring rise in number of original equipment manufacturers (OEMs) have led the automotive & transportation sector to witness a significant growth. For instance, according to a report published by India Brands Equity Foundation, the domestic automobile production increased by a compound annual growth rate (CAGR) of 2.36% from 2016 to 2020 with 26.36 million vehicles being manufactured in India in 2020.
Recycled aluminum plays a significant role in the automotive and transportation sector, offering various benefits such as weight reduction, improved fuel efficiency, enhanced performance, and recyclability. Recycled aluminum is used in the construction of vehicle bodies and chassis to reduce weight while maintaining structural integrity. By substituting heavier materials such as steel, aluminum helps improve fuel efficiency and reduce emissions. It can be found in body panels, hoods, doors, trunk lids, and structural components such as subframes and crash structures. Moreover, recycled aluminum is used in engine components to reduce weight and improve thermal management. Engine blocks, cylinder heads, pistons, intake manifolds, and oil pans often incorporate aluminum, contributing to better performance, heat dissipation, and fuel efficiency. These factors altogether may enhance the demand for recycled aluminum in the automotive and transportation sector.
In addition, the electronics industry has been actively pursuing sustainability initiatives, and the use of recycled aluminum aligns with these goals. Recycling aluminum significantly reduces energy consumption and greenhouse gas emissions compared to primary aluminum production. Incorporating recycled aluminum in electronic devices supports circular economy principles, reduces resource consumption, and minimizes waste generation. This may act as one of the key drivers responsible for the growth of the recycled aluminum market in the electronics sector. In addition, the electronics industry faces increasing regulations and requirements regarding the use of hazardous substances. Recycled aluminum can help meet these regulations as it is free from harmful substances such as lead, mercury, and cadmium. Using recycled aluminum contributes to the production of environmentally friendly and compliant electronic devices. This may surge the adoption of recycled aluminum in the growing electronics sector; thus, boosting the market growth.
However, the availability of recycled aluminum can fluctuate depending on the collection and recycling infrastructure in place. Insufficient collection systems, limited recycling facilities, and inconsistent recycling rates can result in a shortage of recycled aluminum supply, which can hinder market growth. Furthermore, 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 market's overall growth potential.
On the contrary, there is a surge in global demand for sustainable materials and a shift toward a circular economy. 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 glove 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 report segments the recycled aluminum market 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 market Insights
- By scrap type, the wire scrap segment is the fastest growing segment, registering a CAGR of 8.0% from 2023 to 2032.
- By end use industry, automotive segment is the fastest growing segment, from 2023 to 2032.
- By region, Asia-Pacific registered the highest share of 49.1% in 2022, in terms of revenue, growing at a CAGR of 8.0% during the forecast period.
Companies Mentioned
- 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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
