Latest News- Aluminum Scrap Recycling Market: Casting is expected to lead the End-user segment during 2025-2029

The Aluminum Scrap Recycling Market is being driven by Growing concerns over energy consumption and environmental pollution

The Aluminum Scrap Recycling Market is expected to grow at a CAGR of 10.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 4379.4 million. In the business context, the growing concern for environmental sustainability has led to a significant focus on aluminum scrap recycling. Compared to the energy-intensive process of extracting primary aluminum, recycling aluminum scrap consumes less energy. To enhance the extent of aluminum scrap recycling, innovative technologies such as solid-state recycling and Laser-Induced Breakdown Spectroscopy (LIBS) are being adopted. The LIBS technology, which utilizes an energetic laser pulse as an excitation source, can detect all elements, regardless of their physical state. It evaluates the abundance of each element and monitors them for impurities, ensuring the production of high-quality recycled aluminum. This technology is gaining global prominence due to its effectiveness. Simultaneously, solid-state recycling is an eco-friendly process that mechanically crushes recyclable aluminum parts and cleans them chemically. This process facilitates the aluminum scrap recycling process while minimizing environmental impact. The adoption of these advanced recycling technologies is essential for businesses seeking to reduce their carbon footprint and contribute to a sustainable future. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Casting
  • Automotive
  • Construction
  • Packaging
  • Aerospace
  • Electronics
  • Machinery/Equipment
• Type
  • Old scrap
  • New scrap
  • Aluminum Foil Scrap
  • Aluminum Ingot Scrap
• Alloy Type
  • Wrought Alloy
  • Casting Alloy
  • Specific Alloy Series
  • Unialloys
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing concerns over energy consumption and environmental pollution
• Increasing use of aluminum in automobile industry
• Increased adoption and construction of green buildings

However, the market also witnesses some limitations, which are as follows:

• Decrease in recycling rate of used beverage cans
• Environmental issues related to recycling of aluminum scraps
• Expensive sorting process for products that need to be recycled

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Market Scope in Aluminum Scrap Recycling Market Research Report

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Research Analysis Overview

The Aluminum Scrap Market encompasses the value of aluminum scrap, scrap metal prices, and recycling capacity. Recycling costs, scrap metal demand, and the recycling supply chain are also significant factors. Exports and imports of aluminum scrap, recycling regulations, and recovery rates influence the market. Recycling investment, infrastructure development, sustainable manufacturing, green technology, and circular economy principles shape aluminum recycling trends. Innovations and statistics contribute to the market analysis, while the industry outlook aligns with sustainable development goals and certification standards.

Market Research Overview

In the expansive aluminum industry landscape, businesses encompassing the production of aluminum and associated products take center stage. This encompasses entities involved in the mining or processing of bauxite, as well as those specializing in aluminum scrap recycling to generate finished or semi-finished aluminum goods. According to Technavio's market analysis, the global aluminum market revenue is derived from these aluminum producers. Factors fueling growth in the aluminum sector include the burgeoning demand for aluminum in various industries, such as construction, electrical, and transportation. The escalating need for infrastructure development, automobiles, and electricity, driven by population growth, urbanization, and economic expansion, significantly contributes to this demand. Aluminum scrap, specifically from sources like aluminum cans and aluminum alloys, undergoes rigorous sorting and grading processes to ensure optimal material recovery and product quality within the recycling processes.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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