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Aluminum Recycling Market Size (2024 - 2029)

The aluminum recycling market is projected to experience growth over the forecast period, driven by increased demand in the automotive and construction industries. Despite challenges such as the presence of impurities like iron, the market is poised for expansion, particularly due to opportunities in the electric vehicles segment and a heightened focus on reducing carbon footprints. The Asia-Pacific region is anticipated to lead in market size and growth rate, reflecting its dominant position in the industry.

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Market Size of Aluminum Recycling Industry

Aluminum Recycling Market Summary
Study Period 2019 - 2029
Market Volume (2024) 37.54 Million tons
Market Volume (2029) 47.54 Million tons
CAGR (2024 - 2029) 4.83 %
Fastest Growing Market Asia-Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Aluminum Recycling Market Major Players

*Disclaimer: Major Players sorted in no particular order

Aluminum Recycling Market Analysis

The Aluminum Recycling Market size is estimated at 37.54 Million tons in 2024, and is expected to reach 47.54 Million tons by 2029, growing at a CAGR of 4.83% during the forecast period (2024-2029).

The COVID-19 pandemic had a substantial impact on the aluminum recycling market. Building and construction, a major sink for aluminum, was badly hit, especially due to curtailment in residential real estate resulting in the suspension of home registrations and slow home loan disbursements. However, the sector has been recovering well since restrictions were lifted. The aluminum market recovered significantly in the 2021-22 period, owing to rising consumption from various end-user industries.

  • Over the short term, the growing utilization of recycled aluminum in the automotive and construction industry is expected to drive demand for the market.
  • On the contrary, the presence of undesirable impurities like iron is likely to hamper the market's growth.
  • Growth in the electric vehicles segment and growing focus on the reduction of carbon footprint are likely to provide new growth opportunities for the market.
  • The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Aluminum Recycling Industry Segmentation

Aluminum recycling is the process by which scrap aluminum can be reused in products after its initial production. Aluminum recycling involves reprocessing used aluminum products to create new materials. This sustainable practice conserves resources and energy. In applications, recycled aluminum finds use in various industries, including automotive parts, beverage cans, packaging materials, and construction components. The aluminum recycling market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into casting alloys, extrusion, sheets, and other product types. By end-user industry, the market is segmented into automotive, aerospace and defense, building and construction, electrical and electronics, packaging, and other end-user industries. The report also covers market sizes and forecasts in 28 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (tons).

Product Type
Casting Alloys
Extrusion
Sheets
Other Product Types
End-user Industry
Automotive
Aerospace and Defense
Building and Construction
Electrical and Electronics
Packaging
Other End-user Industries
Geography
Asia Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Nordic Countries
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
Qatar
United Arab Emirates
Nigeria
Egypt
South Africa
Rest of Middle-East and Africa
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Aluminum Recycling Market Size Summary

The aluminum recycling market is poised for significant growth over the forecast period, driven by increasing demand from the automotive and construction industries. The market is recovering from the impacts of the COVID-19 pandemic, which had disrupted key sectors like building and construction. However, the sector has shown resilience and is expected to continue its recovery, bolstered by rising consumption across various end-user industries. The Asia-Pacific region is anticipated to lead the market, with countries like China and India playing pivotal roles due to their booming construction and automotive sectors. The use of recycled aluminum offers substantial energy savings, making it an attractive option for industries aiming to reduce their carbon footprint.

The market landscape is characterized by a fragmented nature, with key players such as Novelis Inc., Speira GmbH, and Norsk Hydro ASA actively participating. Recent strategic moves, such as Novelis Inc.'s contract with Ardagh Metal Packaging USA Corp. and Stena Metall AB's acquisition of Pyreco S.r.l, highlight the ongoing efforts to enhance recycling capabilities and expand market reach. The growing focus on electric vehicles and sustainable practices further presents new growth opportunities. Despite challenges like the presence of impurities, the market is expected to benefit from increasing construction activities and the rising adoption of recycled aluminum in various applications, ensuring a positive outlook for the coming years.

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Aluminum Recycling Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Utilization of Recycled Aluminum in the Construction Industry

      2. 1.1.2 Growing Demand for Recycled Aluminum from the Automotive Industry

    2. 1.2 Restraints

      1. 1.2.1 Presence of Undesirable Impurities Like Iron

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Product Type

      1. 2.1.1 Casting Alloys

      2. 2.1.2 Extrusion

      3. 2.1.3 Sheets

      4. 2.1.4 Other Product Types

    2. 2.2 End-user Industry

      1. 2.2.1 Automotive

      2. 2.2.2 Aerospace and Defense

      3. 2.2.3 Building and Construction

      4. 2.2.4 Electrical and Electronics

      5. 2.2.5 Packaging

      6. 2.2.6 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Malaysia

        6. 2.3.1.6 Thailand

        7. 2.3.1.7 Indonesia

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Spain

        6. 2.3.3.6 Nordic Countries

        7. 2.3.3.7 Turkey

        8. 2.3.3.8 Russia

        9. 2.3.3.9 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 Qatar

        3. 2.3.5.3 United Arab Emirates

        4. 2.3.5.4 Nigeria

        5. 2.3.5.5 Egypt

        6. 2.3.5.6 South Africa

        7. 2.3.5.7 Rest of Middle-East and Africa

Aluminum Recycling Market Size FAQs

The Aluminum Recycling Market size is expected to reach 37.54 million tons in 2024 and grow at a CAGR of 4.83% to reach 47.54 million tons by 2029.

In 2024, the Aluminum Recycling Market size is expected to reach 37.54 million tons.

Aluminum Recycling Market Report Snapshots

Aluminum Recycling Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)