Recycled Aluminum Market Projected To Hit $101.7 billion By 2032 | Growth With Recent Trends & Demand

Recycled aluminum refers to aluminum that has been recovered and processed from postconsumer or post-industrial waste materials, rather than being extracted from raw sources. It is a sustainable and environmentally friendly alternative to primary aluminum production. The process involves collecting aluminum sorting, and processing it to remove impurities, melting it down, and shaping it into various forms for reuse. Recycled aluminum retains the same properties and characteristics as primary aluminum, making it suitable for a wide range of applications.

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The global recycled aluminum market was valued at $49.1 billion in 2022, and is projected to reach $101.7 billion by 2032, growing at a CAGR of 7.6% from 2023 to 2032.

Recycled aluminum is commonly used for exterior building facades due to its lightweight nature, corrosion resistance, and ability to be easily formed into various shapes. It can be used for cladding systems, curtain walls, and decorative elements, providing a modern and aesthetically pleasing appearance. Moreover, recycled aluminum has become a popular choice for windows and doors in both residential and commercial buildings.

Aluminum frames can be slim and sleek, allowing for larger glass areas, maximizing natural light, and providing energy efficiency. Thus, the application of recycled aluminum ranges from structural components to architectural elements, contributing to sustainable and aesthetically appealing construction projects. This factor may act as one of the key drivers responsible for the growth of the recycled aluminum market in the growing building & construction sector
Recycled aluminum plays a significant role in the automotive and transportation sector, offering various benefits such as weight reduction, improved fuel efficiency, enhanced performance, and recyclability. Recycled aluminum is used in the construction of vehicle bodies and chassis to reduce weight while maintaining structural integrity. By substituting heavier materials such as steel, aluminum helps improve fuel efficiency and reduce emissions.

It can be found in body panels, hoods, doors, trunk lids, and structural components such as subframes and crash structures. Moreover, recycled aluminum is used in engine components to reduce weight and improve thermal management. Engine blocks, cylinder heads, pistons, intake manifolds, and oil pans often incorporate aluminum, contributing to better performance, heat dissipation, and fuel efficiency. These factors altogether may enhance the demand for recycled aluminum in the automotive and transportation sector.

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Key Market Players:
Kuusakoski oy, Novelis Inc., STEINERT Global, Norsk Hydro ASA, JAIN RESOURCE RECYCLING PVT LTD., Constellium, Stena Aluminium, COHEN, REAL ALLOY, GAL Aluminium Extrusions Pvt. Ltd

IMPACT OF COVID-19 ON THE GLOBAL RECYCLED ALUMINUM MARKET
• The COVID-19 pandemic led to disruptions in global supply chains, including the collection and processing of aluminum junk. Restrictions on movement and lockdown measures affected junks collection activities, leading to reduced availability of recycled aluminum feedstock. This disruption in the supply chain had an immediate impact on the recycled aluminum sector.
• However, as economies began to reopen and recover from the impacts of the pandemic, industrial activity and demand for aluminum-containing products started to rebound. This recovery in economic activity has contributed to the revival of the recycled aluminum sector.
• Furthermore, the pandemic reinforced the importance of sustainability and environmental responsibility. Businesses and consumers are increasingly prioritizing sustainable practices and materials, including recycled aluminum. The surge in focus on sustainability has created new opportunities for the recycled aluminum sector, as it aligns with circular economy principles and offers a more environmentally friendly alternative to primary aluminum. This factor may lead the recycled aluminum market to witness a significant growth post COVID-19 period

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