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A07387 | Pages: 440 | Charts: 60 | Tables: 224 |
The global aluminum scrap recycling market size was valued at $5.4 billion in 2023, and is projected to reach $11.7 billion by 2033, growing at a CAGR of 8% from 2024 to 2033.
Market Introduction and Definition
Aluminum scrap recycling is the process of reprocessing used aluminum materials such as cans, foils, and other aluminum products into new aluminum products. This process is crucial for the aluminum industry owing to the significant environmental and economic benefits. Aluminum is melted down and reused repeatedly without losing its quality or properties. This makes aluminum scrap recycling a highly sustainable practice, reducing the need for primary aluminum production, which is energy-intensive and environmentally impactful. Recycling aluminum scrap conserves natural resources and saves a substantial amount of energy. Producing aluminum from recycled materials requires only about 5% of the energy needed to produce primary aluminum from bauxite ore. This energy savings translates into lower greenhouse gas emissions and a reduced carbon footprint for the aluminum industry.
Key Takeaways
Key Market Segments
Key Market Players