Market Size of Aluminum Recycling Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Aluminum Recycling Market Analysis
The aluminum recycling market is expected to register a CAGR of a little over 5% during the forecast period.
Because of the global constraints affecting the automotive, building, and construction industries, the COVID-19 pandemic had a substantial impact on the aluminum recycling market. However, the sector has been recovering well since restrictions were lifted. The aluminum market recovered significantly in the 2021-22 period, owing to rising consumption from various end-user industries.
- The growing use of recycled aluminum in the automotive industry is expected to drive demand for the market forward.
- On the contrary, the depreciation in quality caused by frequent aluminum recycling is likely to hamper the market's growth.
- Growth in the electric vehicle market will likely provide new growth opportunities for the market due to the increased need in the battery segments.
- The Asia-Pacific region is expected to dominate the aluminum recycling market in the forecast period.
