Global Aluminum Scrap Recycling Market to Reach USD 9,723.33 Million by 2027

Strategic Insights -

The global aluminum scrap recycling market size was estimated at USD 5,691.22 million in 2021 and expected to reach USD 6,208.12 million in 2022, growing at a CAGR of 9.33% to reach USD 9,723.33 million by 2027. The market is segmented by product, scrap type, end-use sector, and region, with a focus on the cumulative impact of COVID-19 and the 2022 Russia-Ukraine conflict.

Key Takeaways:

  • The market is expected to grow at a CAGR of 9.33% from 2022 to 2027, driven by increasing demand for recycled aluminum and the need for sustainable materials.
  • The Asia-Pacific region is expected to be the largest market, accounting for 40.5% of the global market share by 2027, followed by the Americas and Europe, Middle East & Africa.
  • The market is segmented by product into aluminum foil scrap and aluminum ingot scrap, with the latter expected to grow at a higher rate due to increasing demand for secondary aluminum products.
  • The end-use sector is segmented into automotive, building & construction, consumer appliances, electronics, and machinery & equipment packaging, with the automotive sector expected to be the largest consumer of recycled aluminum.
  • The market share analysis reveals that Alcoa Corporation, Aurubis AG, and Constellium SE are among the leading vendors in the market, with a combined market share of over 40%.
  • The competitive scenario highlights the strategic moves of vendors, including mergers & acquisitions, new product launches, and investments in recycling technologies.
  • The company usability profiles provide insights into the recent developments and innovation profiles of leading vendors in the market.

Statistics:

  • The market size was estimated at USD 5,691.22 million in 2021 and is expected to reach USD 9,723.33 million by 2027, growing at a CAGR of 9.33%.
  • The Asia-Pacific region is expected to account for 40.5% of the global market share by 2027, followed by the Americas and Europe, Middle East & Africa.
  • The market is expected to grow from 2022 to 2027, with a compound annual growth rate (CAGR) of 9.33%.
  • The cumulative impact of the 2022 Russia-Ukraine conflict is expected to have a negative impact on the market, with a potential decline in growth rate by 1-2% due to disrupted trade and logistics.

Sources:

  • ReportLinker (PRNewswire, Dec. 27, 2022)
  • ReportLinker (award-winning market research solution)
  • ReportLinker (clare@reportlinker.com, US: (339)-368-6001 Intl: +1 339-368-6001)