Aluminum Scrap Recycling Market Size is projected to reach USD 25.12 Billion by 2030, growing at a CAGR of 8.16%: Spherical Insights
The Global Aluminum Scrap Recycling Market was valued at USD 5.60 billion in 2021 and is expected to reach USD 25.12 billion by 2030, growing at a CAGR of 8.16 % during 2021-2030. The North America is dominating the market share of the global Aluminium Scrap Recycling.
New York, United States, 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 expected to reach USD 25.12 billion by 2030, growing at a CAGR of 8.16 % during 2021-2030.
*Key Insights*
· The Aluminum Scrap Recycling market is growing at a CAGR of 8.16% from 2021 to 2030
· The global *Aluminum Scrap Recycling Market* is expected to reach USD 25.12 billion by 2030
· The North America is expected to grow the fastest during the forecast period
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Recycling is an important factor in the continuous use of aluminium, as it is one of the metal's key characteristics, with far-reaching economic, ecological, and social implications. More than half of all aluminium produced in the European Union (EU-25) comes from recycled raw materials, a trend that is expected to continue. Because of rising end-use demand and a lack of domestic primary aluminium production in this region of the world, Europe has a significant stake in maximizing scrap collecting and developing the most resource-efficient scrap treatments and melting processes. Because of increased energy constraints in this region, the need for efficient *aluminium recycling will grow even more in the future*. Independent of any legislative or political initiative, the high inherent value of aluminium scrap has always been the primary driver for recycling.
However, in addition to the apparent economic aspect, rising environmental concerns and increased social responsibility, particularly in the last decade, have boosted recycling activities, as recycling uses only 5% of the energy required for primary aluminium manufacturing. The major advantages like saving energy, and less environmental impact the *aluminium recycling market are expected to grow* in the forecast period.
The high emissions toll associated with primary aluminium will be reduced by switching to secondary, or recycled, aluminium production. The sectors of automation and packaging offer the best chances for recovering aluminium scrap. Aluminium 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. Closing the gap for aluminium emissions technologies to accelerate deep decarbonization of direct emissions, a new report from the aluminium for climate initiative emphasizes the need for a breakthrough technology to reduce direct emissions in aluminium manufacturing.
Browse key industry insights spread across 220 pages with 119 market data tables and figures & charts from the report *Global Aluminum Scrap Recycling Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Aluminum Scrap Type (Cast Aluminum, Aluminum Cans, Sheet Aluminum and Others), By Category (New Scrap, Old Scrap), By Application (Building & Construction, Automotive, Electronics, Machinery & Equipment Packaging and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030 *in detail along with the table of contents *https://www.sphericalinsights.com/reports/aluminum-scrap-recycling-market*
However, when it comes to decarbonizing the aluminium business, production emissions are only one element of the problem. To significantly reduce demand for high-carbon primary aluminium, the industry must increase circularity. According to the international aluminium Institute (IAI), global demand for aluminium would increase by more than 80% by 2050. Primary production is responsible for about 90% of current aluminium emissions. Secondary, or recycled, aluminium, on the other hand, consumes only 5% of the energy required for initial manufacture.
Moreover, after the COVID-19 pandemic, the global aluminium demand will see an increase of 40 per cent. Requires an additional production of 33.3 million tons, meaning the metal output should ideally improve from 86.2 million tons in 2020 to 119.5 million tons up to 2030. The demand from China is expected to be at 12.3 million tons, while from the rest of Asia 8.6 million tons.
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*Report Scope*
*Report Metric* *Details*
*Market Size 2030* USD 25.12 Billion
*CAGR* 8.16% (2020-2030)
*Historical Data* 2019-2020
*Base Year* 2021
*Forecast Period* 2022-2030
*Forecast Units* Value (USD Billion)
*Segments Covered* By Aluminum Scrap Type, Category, Application and Region
*Report Coverage* Drivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
*Geographies Covered* North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World
*Key Companies Profiled/Vendors* Sims Metal Management Kuusakoski Recycling DOWA HOLDINGS Co., Ltd. ArcelorMittal S.A. REAL ALLOY Commercial Metals Company Aurubis AGS TRIMET Aluminium Nupur Recyclers Arfin India Ltd,
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*Market Segment*
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global *Aluminum Scrap Recycling Market* based on the below-mentioned segments:
*Aluminum Scrap Recycling Market* *By Aluminum Scrap Type *
· Cast Aluminum
· Aluminum Cans
· Sheet Aluminum
*Aluminum Scrap Recycling Market* *By Category*
· New Scrap
· Old Scrap
*Aluminum Scrap Recycling Market* *By Application*
· Building & Construction
· Automotive
· Electronics
· Machinery & Equipment Packaging
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*North America and Europe* will account for 5.1 million tons and 4.8 million tons, respectively. Hence, with the increase in the growth of aluminium applications, increasing the aluminium scrap recycling demand in the forecast period. Furthermore, after the COVID-19 pandemic, the aluminium scrap recycling market is accomplished by the government. Therefore, the aluminium scrap recycling market is witnessing significant growth during the FY-2021 or the COVID-19 pandemic.
*Regions Covered*
· North America
· Europe
· Asia-Pacific
· Latin America
· The Middle East and Africa
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*ALUMINIUM SCRAP RECYCLING MARKET: KEY PLAYERS*
· *Sims Metal Management*
· *Kuusakoski Recycling*
· *DOWA HOLDINGS Co., Ltd.*
· *ArcelorMittal S.A.*
· *REAL ALLOY*
· *Commercial Metals Company*
· *Aurubis AGS*
· *TRIMET Aluminium*
· *Nupur Recyclers*
· *Arfin India Ltd*
· *Palco Recycle Industries*
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*Market News*
· *May 2019 -* Nucor Corporation announced a capital investment in its bar mill in Darlington, South Carolina, that will add vacuum degassing to its engineered bar capabilities. The addition of this capability will allow the mill to produce engineered bar products that meet some of the industry's most stringent quality specifications. The vacuum degassing system is scheduled to go into service in late 2020.
· *May 2019 - *Aurubis AG acquired the Belgian-Spanish Metallo Group in order to pursue its multi-metal and recycling strategy more aggressively. With its attractive growth potential, the acquisition strengthens the company's multi-metal portfolio, particularly in the key metals copper, nickel, tin, zinc, and lead.
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*Have a Look at the Related Research Report?*
*Global Aluminum Composite Panels Market Size*, Share, and COVID-19 Impact Analysis, By Product (Polyvinylidene Difluoride, Polyester, Laminating Coating, Oxide Film, and Others), By Application (Building & Construction, Automotive, Advertising Board, Railways & Others): By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021-2030
*Global Aluminum Scrap Recycling Market Size,* Share & Trends, COVID-19 Impact Analysis Report, By Aluminum Scrap Type (Cast Aluminum, Aluminum Cans, Sheet Aluminum and Others), By Category (New Scrap, Old Scrap), By Application (Building & Construction, Automotive, Electronics, Machinery & Equipment Packaging and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030
*Global Aluminum Caps & Closures Market Size,* Share & Trends, COVID-19 Impact Analysis Report, by Product Type (Roll-on pilfer-proof caps, Easy open end lids, Non-refillable closures), End-Use Sector (Beverage, Pharmaceutical, Food, Home & personal care): By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021-2030
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*FAQs are covered of Aluminum Scrap Recycling Market*
How big is the Aluminum Scrap Recycling?
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What are the segments in the Aluminum Scrap Recycling?
What are the major factors driving the growth of the Aluminum Scrap Recycling market?
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*About the Spherical Insights *
*Spherical Insights* is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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