Aluminium Recycling Market Size, Share, Growth, And Industry Analysis, By Type (Aluminium Billet, Aluminium Scrap, Aluminium Ingot), By Application (Transportation Industry, Packaging Industry, Construction Industry, Electronics Industry and Other), Regional Insights, and Forecast From 2024 To 2032

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Aluminium Recycling Market Report Overview

The global aluminium recycling market size was USD 107.09 billion in 2023 and is projected to grow from USD 112.03 billion in 2024 to USD 160.83 billion by 2032, exhibiting a CAGR of 4.62% during the forecast period. Asia-Pacific holds leading position in aluminium recycling market share in 2023. 

After being produced, scrap aluminium can be used again in products through a process called recycling. Remelting the metal is all that is needed to complete the process, which is much less expensive and energy-intensive than producing new aluminium through the electrolysis of aluminium oxide (Al2O3), which must first be mined from bauxite ore, refined into aluminium oxide using the Bayer process, and then refined once more into aluminium metal using the Hall-Héroult process.

COVID-19 Impact: Pandemic Hamper the Demand of Aluminum Recycling to Market Growth

Construction, automotive, packing, the food and beverage industry, consumer goods, and other industries have all been impacted by the coronavirus outbreak. Because people are more dispersed over the globe, there is less overall demand for these businesses. Governments were compelled to halt industrial activities to stop the virus from spreading. The lack of manpower in the sector has also impeded the production process. Similar to this, supply chain disruptions in many countries have reduced demand for a range of goods. Because aluminium is widely used in many different industries, plant closures and low customer demand are likely to cause demand to decline. As a result, the COVID-19 epidemic hinders aluminium recycling market expansion.

The global COVID-19 pandemic has been unprecedented and staggering, with the aluminium recycling market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Latest Trends

"The Less Energy-Intensive Recycling Method is a Major Element in Market Expansion."

The expansion of the aluminium recycling market is primarily being driven by environmental and energy-related factors. One of the significant advantages for recycling aluminium scrap is the lower energy consumption throughout the recycling process. Energy use is decreased through the recycling of aluminium. This benefit makes it a desirable choice and is raising the demand in many areas. Government organisations set the emission regulations in order to reduce emissions during the recycling of aluminium and promote environmental preservation.

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Aluminium Recycling Market Segmentation

• By Type Analysis

According to type, the aluminium recycling market can be segmented into Aluminium Billet, Aluminium Scrap, Aluminium Ingot.  

In terms of type, the Aluminium Billet is anticipated to be the largest segment during the forecast period.  

• By Application Analysis

Based on application, the aluminium recycling market can be divided into Transportation Industry, Packaging Industry, Construction Industry, Electronics Industry and Other.  

In terms of application, Transportation Industry market is projected to hold the largest market share through 2028.

Driving Factors

"Aluminum Recycling Industry Technological Advancement to Enable Market Growth  "

Technology has been incorporated in scrap metal recycling yards to help with waste sorting and processing. This technology was implemented to handle the intricacy of products like electronics and the changing nature of waste stream materials, as well as to speed up the manual sorting process. Due to this, more sophisticated methods are needed to detect Laser-induced breakdown spectroscopy (LIBS), and solid-state recycling has been introduced to the industry of aluminium recycling . This is a more recent development that has helped the aluminium recycling market waste to grow. A powerful laser that can find impurities in any physical state is the foundation of LIBS. 

"The Automobile Industry's Growing Use of Aluminum Has Accelerated Market Growth "

The most common form of transportation worldwide is the vehicle. However, because the automobile industry is more concerned with improving CO2 emissions, fuel efficiency, and design, aluminium is playing a bigger role in modern cars. The expansion of automotive production and the greater usage of aluminium in contemporary vehicles are the primary drivers of this development. The usage of aluminium helps lower the weight of vehicles by one kilogram overall. The primary factor anticipated to drive the market expansion is the increased usage of aluminium in the automotive industry and the rise in the use of aluminium recycling procedures.

Restraining Factors

"Environmental Issues Related to Aluminum Recycling Limit Market Growth"

Due to the numerous environmental issues that result from recycling aluminium cans, the market for recycling aluminium cans faces significant obstacles. Here are a few issues brought about by recycling aluminium. Aluminum recycling uses a fraction of the energy needed to make new aluminium from bauxite. The regulations governing the disposal of trash vary per country. These factors are therefore the main obstacles for the aluminium recycling market.   

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Aluminium Recycling Market Regional Insights

"The North America Region will Dominate Market Due to More Use of Aluminium "

The aluminum recycling market is divided into three regions based on geography: North America, Europe, and Asia-Pacific. The global aluminium recycling market share is dominated by North America. Aluminum is being used in more and more products, which is driving up demand for recycling aluminium. As a result, scrap aluminium is growing and must be recycled. For instance, the international aluminium Institute has published data on global aluminium recycling (IAI). Aluminum is one of the materials that is recycled the most globally, according to IAI recycling data. High recycling rates across all regions serve as a reminder of the economic and environmental advantages of aluminium waste.

Key Industry Players

"Adoption Aluminum Recycling Services by Key Players Influencing Market Development"

The top key players in the market such as Delta Aluminium Industry, Kaiser Aluminum, Novelis, Raffmetal, Real Alloy, Constellium. Most of the top players hold the aluminium recycling market shares. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the aluminium recycling market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates the aluminium recycling market.  

LIST OF TOP ALUMINIUM RECYCLING COMPANIES

• Novelis
• Real Alloy
• Norsk Hydro
• UACJ
• Raffmetal
• Sigma Group
• Delta Aluminium Industry
• Kobe Steel
• Kaiser Aluminum
• Ye Chiu
• Constellium
• Matalco 

Report Coverage

This report examines an understanding of the aluminium recycling market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.