Aluminum Scrap Recycling Market Analysis 2020-2027:

Aluminum scrap recycling is the process of recycling scrap aluminum to reuse it in other potential applications. Recycling of aluminum scrap is done by the process of melting, sorting, purifying, and solidifying of aluminum scrap. Aluminum is the world’s second most available resource after silicon, and is being used commercially for over a century. It is light in weight and has other properties such as malleability and ductility. Moreover, it also provides high corrosion resistance property and is used as an essential element in almost all industries across the globe. Aluminum is widely used in applications, including railcars, marine vessels, airplanes, trucks, consumer durables, machinery, and packaging.

Market scope and structure analysis:

By Scrap Type

• Old Scrap
• New Scrap

By Product

• Aluminum Foil Scrap
• Aluminum Ingot Scrap
• Others

By End-use Sector

• Building & Construction
• Automotive
• Electronics 
• Machinery & Equipment Packaging
• Consumer Appliances
• Others (Home & Industrial Furniture, Aerospace, and Residential & Commercial Utensils & Containers)

COVID–19 scenario analysis

The coronavirus pandemic has affected various industries such as food & beverages, construction, automotive, packing, consumer products, and others. The worldwide lockdown has reduced the overall demand for these industries as people have been quarantined. Governments have been forced to shut down operations in industries to prevent further spread of the virus. The lack of workers in industries has also troubled the production process. Similarly, supply chain disruptions across countries have further reduced the demand for various products. As aluminum is widely used across various industries, its demand is expected to reduce due to shut down and low demand from customers.

Market scenario analysis

Increased use of aluminum in the automobile industry and rise in adoption of aluminum recycling practices are the major factors that are expected to propel the market growth. The demolition of buildings is the main source of aluminum scraps for recycling companies. Rise in demand for steel coupled with urbanization & industrialization in emerging economies is also predicted to fuel the market growth over the forecast period. Moreover, rise in environmental concerns of depletion of natural resources at a faster rate has forced governments to encourage the aluminum recycling industry, thereby further boosting the aluminum recycling market. High cost and environmental impacts of mining aluminum have increased the use of recycled alumina in the building & construction industry. Therefore, fluctuation in steel prices may hinder the market growth. However, increase in demand for alumina to make commercial products and rise in industrialization are expected to boost the market growth over the forecast period.

Market trends

Technological advancement in the aluminum scrap recycling industry has introduced laser induced breakdown spectroscopy (LIBS) and solid-state recycling. This is the recent trend observed, which contributes to the growth of the aluminum scrap recycling market. LIBS consist of a high-powered laser, which can identify impurities regardless of their physical state. The solid-state recycling works by crushing recyclable aluminum parts and cleaning them to ease the aluminum recycling process.

Regional insights

The global aluminum scrap recycling market is segmented into various regions such as North America, Latin America, Europe, the Middle East & Africa, and Asia-Pacific. Asia-Pacific is the market leader of the aluminum scrap recycling market. China and India are the fastest-growing consumer markets in this region, and are also the major contributors to the market growth in the region. The increase in consumption of consumer durables and development in the construction & building sector further boost the market growth in the region.

Key benefits of the report:

• This study presents the analytical depiction of the aluminum scrap recycling market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the aluminum scrap recycling market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the aluminum scrap recycling market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the aluminum scrap recycling market research report:

• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?