NEW
YORK, June 25, 2024 /PRNewswire/ -- The global
aluminum scrap recycling market size is estimated to grow by
USD 4.35 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 11.37% during the forecast
period. Growing concerns over energy consumption and
environmental pollution is driving market growth, with a
trend towards introduction of libs and solid-state recycling
in aluminum scrap recycling. However, decrease in recycling
rate of used beverage cans poses a challenge. Key market
players include Alcoa Corp., CASS Inc., Chiho Renewable Development
Ltd., Commercial Metals Co., Constellium SE, Crestwood Metal Corp.,
European Metal Recycling Ltd., Hindalco Industries Ltd., Koch
Enterprises Inc., Kuusakoski Oy, Metal Exchange Corp., Norsk Hydro
ASA, Nucor Corp., Real Alloy, RETHMANN SE and Co. KG, Rio Tinto
Ltd., Sims Ltd., Steel Dynamics Inc., Triple M Metal LP, and Ye
Chiu Metal Recycling China Ltd..
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report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Casting and
Downstream), Type (Old scrap and New scrap), and Geography (APAC,
North America, Europe, Middle East and Africa, and South
America)
|
Region
Covered
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
Alcoa Corp., CASS Inc.,
Chiho Renewable Development Ltd., Commercial Metals Co.,
Constellium SE, Crestwood Metal Corp., European Metal Recycling
Ltd., Hindalco Industries Ltd., Koch Enterprises Inc., Kuusakoski
Oy, Metal Exchange Corp., Norsk Hydro ASA, Nucor Corp., Real Alloy,
RETHMANN SE and Co. KG, Rio Tinto Ltd., Sims Ltd., Steel Dynamics
Inc., Triple M Metal LP, and Ye Chiu Metal Recycling China
Ltd.
|
Key Market Trends Fueling Growth
The aluminum scrap recycling market is experiencing significant
growth due to advancements in recycling technologies. Notable among
these are solid-state recycling and laser-induced breakdown
spectroscopy (LIBS). LIBS uses a laser pulse to detect and evaluate
the abundance of elements in scrap, ensuring purity. Solid-state
recycling mechanically crushes and chemically cleans aluminum parts
for recycling, reducing energy consumption and environmental
impact. These innovations are increasing the extent of aluminum
recycling, making it a cost-effective and sustainable solution for
the global aluminum industry.
The Aluminum Scrap Recycling market is currently experiencing
significant growth due to increasing demand for aluminum in various
industries. Packaging, airlines, and construction sectors are major
consumers of aluminum. The scrap recycling process is crucial in
reducing the need for primary aluminum production, which is
energy-intensive. The cost-effective nature of recycling aluminum
scrap makes it an attractive option for businesses. The trend
towards sustainability and circular economy is driving the market
forward. Minals, aluminum, and scrap are key components in this
industry. The US, China, and
Europe are major players in the
global Aluminum Scrap Recycling market. The scrap is collected,
sorted, and transported to recycling facilities for processing. The
recycled aluminum is then sold to manufacturers for use in new
products. The market is expected to continue growing due to the
continuous demand for aluminum and the environmental benefits of
recycling.
Research report provides comprehensive data on impact of trend.
For more details- Download a Sample Report
Market Challenges
- The aluminum scrap recycling market in North America is anticipated to experience a
decrease in demand due to the declining beverage can industry. The
consumption of carbonated soft drinks is decreasing as consumers
shift towards healthier options like water and iced tea. Paperboard
packaging is gaining popularity, leading to an increase in demand
for this type of packaging. Major companies like Sabert and Tetra
Pak are launching new paperboard packaging solutions. These trends
are expected to negatively impact the aluminum scrap recycling
market during the forecast period. Additionally, the moderate
decline in the carbonated soft drinks market and downgauging of can
thickness are further reducing the demand for aluminum cans,
thereby affecting the market negatively. The fall in primary
aluminum prices is another significant factor impacting market
growth.
- The Aluminum Scrap Recycling Market faces several challenges.
Duplicating the original properties of aluminum is a significant
challenge in the recycling process. The process of separating
aluminum from other materials in scrap can be complex and costly.
The quality of the recycled aluminum can also vary, affecting its
market value. Another challenge is the availability of high-quality
scrap. Older scrap may contain impurities that can affect the
quality of the recycled aluminum. Additionally, the cost of
collecting and transporting scrap can be high, making it essential
to have efficient and cost-effective methods in place. Moreover,
the demand for primary aluminum can impact the market for recycled
aluminum. When primary aluminum prices are low, the demand for
recycled aluminum increases. Conversely, when primary aluminum
prices are high, the demand for recycled aluminum decreases.
Lastly, the use of advanced technologies, such as magnetic
separation and eddy current separation, can help improve the
quality of recycled aluminum and increase efficiency in the
recycling process. However, the high cost of implementing these
technologies can be a barrier for smaller recycling
operations.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This aluminum scrap recycling market report extensively covers
market segmentation by
- End-user
- 1.1 Casting
- 1.2 Downstream
- Type
- 2.1 Old scrap
- 2.2 New scrap
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Casting- The casting segment dominates the
aluminum scrap recycling market due to the high demand for cast
aluminum products in industries like automotive, aerospace,
construction, and consumer goods. Technological advancements in
casting processes and the focus on sustainability drive market
growth. Challenges include plant closures in some countries and the
COVID-19 pandemic's impact on demand. However, new technologies and
resumed industries are expected to boost market growth.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Aluminum Scrap Recycling Market plays a significant role in
the sustainable production of this essential metallic element. The
Earth's crust is rich in Aluminum (Al), making it a valuable
resource for recycling. Malleability and ductility of Aluminum
facilitate its recycling process, which involves sorting and
purifying scrap Aluminum. Minerals, flora, and animals contribute
to the extraction of raw Aluminum, while recycling reduces the need
for new mining. Aluminum scrap recycling companies, such as
Guidetti, Glencore, Gelting, China Metal Recycling, IMS Metal
Management, Edoma Recycling, and others, employ advanced
technologies to melt andolidify Aluminum. Aluminum is an important
onferrous metal, and its recycling process is crucial for reducing
the environmental impact and conserving resources. Ilicon, another
etallic element, is also recycled using similar processes.
Market Research Overview
The Aluminum Scrap Recycling Market involves the collection,
processing, and sale of scrap aluminum for reuse. This market plays
a significant role in reducing the need for primary aluminum
production and conserving natural resources. The process of
aluminum scrap recycling includes sorting, shredding, melting, and
remelting the scrap aluminum. The recycled aluminum can be used to
manufacture various products such as automotive parts, building
materials, and packaging. The global aluminum scrap recycling
market is driven by factors such as increasing environmental
awareness, rising demand for lightweight materials, and the
availability of scrap aluminum from various industries. The market
is also influenced by factors such as fluctuations in aluminum
prices and advancements in recycling technologies.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Type
-
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio