11.78 Million MT growth expected in Aluminum Scrap Recycling Market | 7.55% YOY growth in 2021 amid COVID-19 Spread | APAC to Notice Maximum Growth | Technavio
NEW YORK, May 14, 2021 /PRNewswire/ --
The global aluminum scrap recycling market by end-user (secondary smelting and downstream) and geography (APAC, North America, Europe, MEA, and South America) has been added to Technavio's offering. The global aluminum scrap recycling market is expected to grow by 11,782.76 thousand MT, at a CAGR of over 8% during 2021-2025.
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Many automobile manufacturers were forced to shut their operations in 2020 due to the rapid spread of COVID-19. This hampered the supply and demand for aluminum products. However, the automotive industry witnessed an increase in sales in the third quarter of 2020 with the removal of lockdown restrictions and the inclination of people for public transportation and ride-sharing. All these factors will have a positive impact on the growth of the aluminum scrap recycling market during the forecast period.
The market is expected to be driven by factors such as the energy and environmental factors, increasing use of aluminum in the automobile industry, and increased adoption and construction of green buildings.
The report also offers information on the upcoming trends and challenges that will influence market growth.
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Aluminum Scrap Recycling Market: Opportunities
The growing focus on fuel efficiency and reducing the overall weight of vehicles have increased the consumption of aluminum in the automobile industry. Also, the market has been witnessing a significant rise in the rate of aluminum cans. For instance, nearly 50% of the aluminum produced in Europe is obtained from the recycling of scrap. These factors are expected to create several opportunities for vendors during the forecast period.
Aluminum Scrap Recycling Market: Segmentation by End-user
Based on the segmentation by end-user, the market generated maximum revenue in the secondary smelting segment in 2020. The segment is driven by the increasing demand for recycled aluminum from the construction industry. The market growth in the region will be significant during the forecast period.
Aluminum Scrap Recycling Market: Segmentation by Geography
APAC held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the growth in the construction and automobile industries in the region. Also, the increasing import of aluminum scrap in countries such as Hong Kong, Thailand, South Korea, Japan, and Malaysia is contributing to the growth of the aluminum scrap recycling market in APAC.
One of the fortune 500 companies had used the detailed research report on the aluminum scrap recycling market and had decided to increase their market share in the APAC region which offers the highest market opportunities during the forecast period.
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Aluminum Scrap Recycling Market: Major Vendors
Alcoa Corp.
The company offers aluminum scrap recycling such as aluminum smelting and casting along with the majority of the energy assets.
Constellium SE
The company offers aluminum scrap recycling to reduce the need for primary aluminum, and therefore minimizes waste, avoids resource depletion, and lowers greenhouse gas emissions across a product life cycle.
Hindalco Industries Ltd.
The company offers aluminum scrap recycling consist of bauxite mining, alumina refining, smelting, and converting primary metal into value-added products.
Matalco Inc.
The company offers aluminum scrap recycling of high-quality homogenized 6000 series aluminum billets, logs for the aluminum extrusion, and forging manufacturing industries using world-class remelt technology.
Real Alloy
The company offers aluminum scrap recycling and by-products into reusable aluminum metal for a growing number of applications across various industries.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the aluminum scrap recycling market report:
Regional Analysis
- Further breakdown of the market segmentation at requested regions.
Market Player Information
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
- Know the strategies adopted by vendors during the COVID-19 Recovery Phase.
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Related Reports on Aluminum Scrap Recycling Market:
Global Scrap Metal Recycling Market – Global scrap metal recycling market is segmented by type (ferrous scrap and non-ferrous scrap) and geography (APAC, Europe, North America, MEA, and South America).
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Global Scraped Surface Heat Exchanger Market – Global scraped surface heat exchanger market is segmented by product (reciprocating tubular, rotating tubular, and rotating plate), end-user (processed food, bakery, dairy, fats and oils, fine food, cosmetics, and others), and geography (Europe, APAC, North America, South America, and MEA).
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Secondary smelting - Market size and forecast 2020-2025
- Downstream - Market size and forecast 2020-2025
- Market opportunity by End-user
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Alcoa Corp.
- Constellium SE
- Hindalco Industries Ltd.
- Kuusakoski Group Oy
- Matalco Inc.
- Metal Exchange Corp.
- Norton Aluminium Ltd.
- Real Alloy
- Rio Tinto Ltd.
- Sims Metal Management Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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