The recycled aluminum market is estimated to observe exponential growth across the assessment period of 2017-2025. The expanding need for aluminum and the exhausting resources across many regions will prove to be a prominent growth generator for the recycled aluminum market. Furthermore, the increasing awareness about sustainability among the government bodies of numerous countries will help in accelerating the growth cycle of the recycled aluminum market.
· Aluminum is the most recycled and recyclable material. It can be used as it is after the recycling process. This factor helps in increasing the overall growth rate of the recycled aluminum market. Furthermore, 95 percent less energy is required to recycle aluminum than producing primary aluminum. These advantages bode well for the growth of the recycled aluminum market.
· Research and development activities have an important part in adding extra stars of growth to the recycled aluminum market. The players invest heftily in these activities. Exploration of novel recycling techniques and mechanisms is possible through research and development. Hence, the activities assist in attracting good revenues, ultimately contributing to the growth of the recycled aluminum market. Mergers and acquisitions are also crucial as they provide a chance to the players to increase their influence across the recycled aluminum market.
Recycling is encountering a rebirth for managing growing volumes of solid waste. The attraction of recycling has got the attention due to much of the material is thrown away. However the governments across the world is working towards recycling most of the products to avoid pollution. The aluminum industry is comprised of many primary and secondary manufacturers. This is because the aluminum industry produces many different types of products and hence the scrap of aluminum industry comes in many different forms and has variety of uses in the industry. All over the world aluminum is one of the most profitable materials to recycle and has achieved higher recycling rates. There are number of aluminum products which can be recycled such as aluminum siding, automobile parts, foils, beverage cans etc. Due to the profitability business many organizations are collecting aluminum scraps for sales of intermediaries and ultimately to industries that reuse the material to make new products. In few cases, the companies that manufactures aluminum also purchase recovered aluminum Because demand for scrap aluminum is strong in both domestically and international market, the principal limitation to increased recycling is on the supply side of the market firms would purchase more scrap.
Aluminum is recycled through a variety of programs. The common consumer program which is followed are curbside and municipal. In these programs, items like beverage cans, aluminum foil, aluminum baking trays and pie pans are recycled. The aluminum industry actively supports the Recycling Partnership, which is a program dedicated to increasing participation in curbside recycling programs. Along with these programs, building and automotive parts are collected for recycling. The growth in recycled aluminum market has increased steadily since 1970 and has become the most valued market worldwide.
Based on type, the global recycled aluminum market can be classified into refiners and remelters. In recycling aluminum the refiners helps in production of casting alloys and deoxidize aluminum from scrap of varying composition. This refiners helps to mix this scraps together, then add alloying elements and further helps to remove certain unwanted elements after the melting process to produce alloys to customer’s specifications. Remelters produce wrought alloys and is one of the largest consumed alloys in worldwide recycled aluminum market. It is usually produce in the form of extrusion billets and rolling ingots, mainly produce from clean and sorted wrought alloy scrap. Refiners and remelters plays an important role in aluminum recycling and have crucial links with collectors, dismantlers, metal merchants and scrap processors etc.
Based on application, the global aluminum recycled market can be classified into construction, automotive, food & beverage and others. At the end of the production, more than 90 percent of the aluminum in building and automotive parts are recycled. These materials serve as a feedstock and are sent to aluminum recyclers to be melted down in the secondary production process.
Based on geography, the global aluminum recycled market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. North America and Europe are the major markets for recycled aluminum market, led by the upturn in growth of recycling activities. The recycled aluminum companies in Asia-Pacific and Latin America is investing more in research and development due to the environmental concern, growth in traditional production centers and increasing recycling activities which have led to demand for recycled aluminum market in Asia-Pacific market.
Major players operating in the global recycled aluminum market are Kuusakoski Group, CCL Industries., Novelis Aluminum, Century Metal Recycling, Tennessee Aluminum Processors and others. These companies hold a significant share of the market. Thus, the recycled aluminum market experiences intense competition.
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