North America Aluminium Scrap Market Size By End-User (Building & Construction, Automotive, Electronics), By Product (Aluminum Foil Scrap, Aluminum Ingot Scrap), By Scrap Type (New Scrap and Old Scrap), By Geographic Scope And Forecast

North America Aluminium Scrap Market Size And Forecast

North America Aluminium Scrap Market size was valued at USD 15.0462 Billion in 2024 and is projected to reach USD 23.175 Billion by 2031, growing at a CAGR of 6.12% from 2024 to 2031.

Technological advancements in aluminum recycling techniques might bring new opportunities for the market to grow during the forecasted period. The North America Aluminium Scrap Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

To Get Detailed Analysis: Download Report PDF

North America Aluminium Scrap Market Definition

Aluminum is one of the most recycled metals with one-third of it produced from scrap. Aluminum scrap is commonly found in general-purpose items such as household products. Aluminum recovered from various sources is a growing source of scrap. According to International Aluminum Institute, aluminum scrap is a product produced during the manufacturing of aluminum semi-fabricated, and final products. The growth of the North America Aluminum Scrap and Recycling Market is due to the higher demand for aluminum scrap in automotive, building & construction, electronics, and other end-use industries.

The growing application of aluminum in the automotive industry for its lower price, sustainability, and recyclability are among the major factors driving the market. Also, building demolition is one of the major sources of aluminum scrap for market players. This has further boosted the market growth in the foreseen period.

What's inside a VMR
industry report?

Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.

>>> Ask For Discount @ – https://www.verifiedmarketresearch.com/ask-for-discount/?rid=267861

North America Aluminium Scrap Market Overview

The US Environmental Protection Agency (EPA) has developed the National Program for greenhouse gas emissions (GHG) in collaboration with the National Highway Traffic Safety Administration (NHTSA) to enhance the US fuel economy. Thus, the need for light vehicles is increased. Many automotive manufacturers across North America have started adopting aluminum to replace heavy metals used in the manufacturing of vehicles. Recycled aluminum can be used in manufacturing vehicle frames and bodies, electrical wiring inside, wheels, air conditioner condenser, pipes and ducts in the air conditioning system, engine parts including pistons, radiator, cylinder head, and other parts such as lamps, paint, transmission, magnets for speedometers, tachometers, and airbags. Virgin aluminum is more expensive than steel due to the amount of energy used during the extraction process. However, recycled aluminum is more cost-effective as compared to virgin aluminum.

Recycling aluminum is cost-effective and offers various benefits; however, it can hamper the quality of aluminum recycled. Aluminum degrades after each reuse cycle; the recycled aluminum can differ in quality as compared to the primary aluminum. There is a risk that the aluminum recovered using a sink float separation process won’t meet the quality standards end customers require. Removing aluminum-plastic compounds, light plastics, and magnesium from aluminum scrap requires advanced sorting technology. Aluminum must be graded concerning an industry specification, customer specification, or standard appropriate for direct use by foundries. The criteria for aluminum are similar, but the total amount of foreign material cannot be more significant than 5% by weight. Hence, adverse impacts of aluminum recycling on the quality of aluminum might strangle the growth of the North America Aluminum Scrap and Recycling Market during the forecasted period.

Technological advancements in aluminum recycling techniques might bring new opportunities for the market to grow during the forecasted period. Technological advancements and innovations such as laser-induced breakdown spectroscopy (LIBS) and solid-state recycling technique in aluminum recycling are absolute opportunities for the North America Aluminum Scrap and Recycling Market. Technological advancements in recycling are making recycling more efficient and prevalent. Laser-induced breakdown spectroscopy (LIBS) applies compact, high-repetition-rate diode-pumped solid-state lasers for the rapid chemical analysis of aluminum scrap collected from different sources. LIBS effectively separates various alloys and handles and manages recycled material flows in scrapyards or manufacturing facilities in a dynamic manner.

North America Aluminium Scrap Market Segmentation Analysis

The North America Aluminium Scrap Market is segmented on the basis of End-User, Product, Scrap Type, and Geography.

North America Aluminium Scrap Market, By End-User

• Building & Construction
• Automotive
• Electronics
• Machinery & Equipment Packaging
• Consumer Appliances
• Others

To Get Summarized Market Report By End-User:- Download Sample Report Now

Based on End-User, the market is bifurcated into Building & Construction, Automotive, Electronics, Machinery & Equipment Packaging, Consumer Appliances, and Others. The Automotive segment is accounted for the largest market share in 2021 and is projected to grow at a CAGR of 4.86%during the forecast period. Aluminum alloys can provide superior corrosion resistance with good strength and low density compared to steel, and they are in greater demand globally. When aluminum is used in mobile applications, energy and greenhouse gas (GHG) emissions are reduced significantly during the product. Aluminum used in transportation applications is recycled according to specified procedures. Almost all applications may use recycled aluminum, which protects raw resources, lowers emissions, and saves energy. Currently, due to their high scrap value, metals, with aluminum being the most prominent, play a crucial part in paying for the end-of-life processing of cars.

North America Aluminium Scrap Market, By Product

• Aluminum Foil Scrap
• Aluminum Ingot Scrap
• Others

Based on Product, the North America Aluminium Scrap Market has been segmented Aluminum Foil Scrap, Aluminum Ingot Scrap, Others. The Aluminium Foil Scrap segment is accounted for the largest market share and is projected to grow at the highest CAGR of 5.26% during the forecast period. The recycling industry strives for a better understanding of factors that influence the recovery yield of input materials. One of these input materials is thin scrap such as foil and sheet aluminum used in packaging. To increase understanding of foil recovery, the characteristics of the input material must be known. The widespread use of aluminum foil packaging use of aluminum in packaging has continued to rise. Aluminum is the lightest material to offer complete protection from moisture, gases, and light.

North America Aluminium Scrap Market, By Scrap Type

• New Scrap
• Old Scrap

Based on Scrap Type, the North America Aluminium Scrap Market has been segmented into New Scrap and Old Scrap. The New Scrap segment is accounted for the largest market share and is projected to grow at the highest CAGR of 5.47% during the forecast period. Aluminum waste is frequently classified as “new scrap” from manufacturing processes. During the production of aluminum semi-fabricated and finished items, new scrap is created. Remelting the metal is all required to recycle aluminum, which is far less expensive and energy-intensive than manufacturing new aluminum through electrolytic extraction (the Bayer process) from bauxite ore. About 5% of the energy required to make new aluminum is used in recycling scrap aluminum. The unpredictable pricing of the recycled material is one of the difficulties in recycling aluminum or any other metal. Recycling aluminum does not degrade its quality; its qualities are unaffected by multiple recycling cycles. Second, recycling aluminum is less expensive than making new aluminum from ore. Even when the costs of collection, separation, and recycling are considered, recycling aluminum typically results in significant cost savings compared to creating new aluminum.

North America Aluminium Scrap Market, By Geography

• United States
• Canada
• Mexico

To Get Summarized Market Report By Geography:- Download Sample Report Now

Based on regional analysis, the North America Aluminium Scrap Market is classified into United States, Canada, Mexico. United States Segment accounted for the largest market share and is projected to grow at a CAGR of 5.26 % during the forecast period. The US emerged as the largest growing region in 2021 amid a strong need for Aluminum Scrap from major end-use industries like automotive, building and construction, and consumer Appliances. Rapid sector, urbanization, and economic growth in this region have resulted in the development of those end-use industries, which likely drive demand for Aluminum Scrap during economic expansion. Even though the US economy, and notably manufacturing activity, has had a challenging year, according to ISRI’s Pickard stated that total domestic aluminum demand and, consequently, demand for aluminum scrap is strong. The auto industry’s volatility, which is partly due to supply chain problems, has been a complicating element.

Key Players

The major players in the market are Constellium SE, Hindalco Industries Ltd., Kuusakoski Group, Matalco Inc., Metal Exchange Corp., Norton Aluminum Ltd., Real Alloy, Rio Tinto Ltd., Glencore PLC, Guidetti, Redoma Recycling, TOMRA Systems, Aurubis, and Alcoa Corp, amongst others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

Key Developments

• In July 2022, The Alcoa Foundation announced a significant investment would be made towards First Nation’s empowerment in the Kwinana, Peel and Upper South-West region of Western Australia (WA). The partnership between the Alcoa Foundation and Waalitj Foundation was announced this week as part of NAIDOC Week events. Waalitj Foundation and the Alcoa Foundation partnership began in 2021 to boost business opportunities for First Nations Australians in areas where Alcoa operates its bauxite mines and alumina refineries in WA

• In August 2022, Rio Tinto is investing $29 million (C$35 million) in the construction of a new aluminum recycling facility at its Arvida Plant in Saguenay-Lac-Saint-Jean, Quebec, to expand its offering of low-carbon aluminum solutions for customers in the automotive, packaging, and construction markets.
Rio Tinto will be the first primary aluminum producer in North America to incorporate recycled post-consumer aluminum into aluminum alloys as a result of the facility.

Report Scope

To Get Customized Report Scope:- Request For Customization Now

View Full Infographic

×

× Download Sample Need customization Ask for a discount

Research Methodology of Verified Market Research:

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support

Customization of the Report

• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.