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

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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North America Aluminium Scrap Market Size And Forecast

North America Aluminium Scrap Market size was valued at USD 12,659.79 Million in 2021 and is projected to reach USD 21,375.50 Million by 2030, growing at a CAGR of 6.12% from 2023 to 2030.

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.

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.

North America Aluminium Scrap Market Overview

The US Environmental Protection Agency (EPA), working with the National Highway Traffic Safety Administration (NHTSA), came up with the National Program for greenhouse gas emissions (GHG) to help make our cars more fuel-efficient. Because of that, we need lighter cars! So, lots of car companies in North America are switching out those heavy metals for aluminum in making vehicles. You can use recycled aluminum for tons of thingsvehicle frames and bodies, the electrical wiring inside, wheels, the air conditioner condenser, pipes and ducts in the air conditioning system, engine parts like pistons, the radiator, cylinder head, and even other parts like lamps, paint, transmission, magnets for speedometers, tachometers, and airbags. Now, new "virgin" aluminum costs more than steel because it takes so much energy to get it out of the ground. But, the good news is that recycled aluminum is a much better deal compared to virgin aluminum.

Recycling aluminum? It's a win-win because it's cheap and good for the environment! But, heads up – it's not all smooth sailing. See, every time aluminum gets recycled, it loses a little something. Think of it like photocopying a photocopy the quality isn't quite the same as the original. If the sink float separation process is used, there's a chance the aluminum just won't be good enough for what buyers need. Getting rid of those pesky aluminum-plastic bits, lightweight plastics, and magnesium? That takes some seriously fancy sorting tech. Plus, the aluminum needs to be graded against industry or customer standards – foundries need it to be just right. The rules are pretty similar across the board, but you can't have more than 5% of that foreign stuff in there. All this means that these quality issues with recycled aluminum might actually slow down the growth of the whole North America Aluminum Scrap and Recycling Market, which is kind of a bummer.

The future looks bright for aluminum recycling!

New technologies are opening doors for market growth. Think about itinnovations like laser-induced breakdown spectroscopy (LIBS) and solid-state recycling are huge opportunities, especially for the North America Aluminum Scrap and Recycling Market. These advancements are making recycling more efficient and common.

LIBS, for instance, uses powerful lasers to quickly analyze the chemical makeup of aluminum scrap from all sorts of places. This means we can easily sort different alloys and manage the flow of recycled materials in scrapyards and factories. It's a game-changer!

North America Aluminium Scrap MarketSegmentation 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

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Now, when we look at who's actually using aluminum alloys, the market splits into a few key areasBuilding & Construction, Automotive, Electronics, Machinery & Equipment Packaging, Consumer Appliances, and, of course, "Others." The Automotive segment really takes the lead, grabbing the biggest chunk of the market in 2021, and we're expecting it to keep growing at a rate of around 4.86% each year. Think about italuminum alloys are fantastic because they fight off corrosion really well, are super strong, and aren't as heavy as steel – that's why they're getting so popular worldwide. When you use aluminum in cars and other things that move, you're actually cutting down on energy use and greenhouse gas (GHG) emissions. Plus, the aluminum we use in transportation gets recycled following pretty strict rules. Basically, you can recycle aluminum for almost anything, which helps protect our natural resources, cuts down on pollution, and saves energy. And here's a cool factmetals, especially aluminum, are worth a lot as scrap, so they actually help pay for the cost of recycling cars when they're done being used.

North America Aluminium Scrap Market, By Product

• Aluminum Foil Scrap• Aluminum Ingot Scrap• Others

When we look at the North America Aluminium Scrap Market, and break it down by Product, we see categories like Aluminum Foil Scrap, Aluminum Ingot Scrap, and Others. Interestingly, Aluminum Foil Scrap currently holds the biggest piece of the pie and is expected to grow the fastest, with a projected CAGR of 5.26% in the coming years. The recycling industry is really digging deep to understand how to get the most out of the materials they're working with. Thin scraps like foil and sheet aluminum, especially from packaging, are a big focus. To really improve how much foil we recover, we need to know exactly what we're dealing with. And, of course, the popularity of aluminum foil packaging just keeps going up! After all, aluminum is super lightweight and gives top-notch protection against moisture, gases, and even light.

North America Aluminium Scrap Market, By Scrap Type

• New Scrap• Old Scrap

When we look at the North America Aluminium Scrap Market by Scrap Type, we see it broken down into New Scrap and Old Scrap. Right now, New Scrap – basically the stuff left over from making aluminum products – holds the biggest slice of the pie and is expected to keep growing fast, maybe even at a rate of 5.47% annually! You know, the aluminum scraps that come from manufacturing are often called "new scrap." Think leftovers from creating things like aluminum sheets or finished parts. The cool thing is, you can just melt it down to recycle it, which is way cheaper and uses a ton less energy than making brand-new aluminum from scratch (that whole Bayer process with bauxite ore). In fact, it only takes about 5% of the energy! One challenge, though, is that the price of recycled aluminum can be a bit all over the place. But the awesome thing is, recycling it doesn't hurt its quality at all – you can recycle it again and again! Plus, even with the costs of collecting, sorting, and remelting, recycling aluminum is still usually much cheaper than making it from ore.

North America Aluminium Scrap Market, By Geography

• United States• Canada• Mexico

To Get Summarized Market Report By Geography- 

Looking at North America, the Aluminium Scrap Market breaks down into the United States, Canada, and Mexico. The United States is currently leading the pack and is expected to keep growing at a rate of 5.26% each year for the foreseeable future. Back in 2021, the US really took off, driven by a serious need for Aluminum Scrap from big industries like cars, building and construction, and even the appliances we use every day. As cities grow and the economy expands in the US, these industries are booming, which in turn is boosting the demand for Aluminum Scrap. According to ISRI’s Pickard, even though the US economy has faced some hurdles, particularly in manufacturing, the overall demand for aluminum, and therefore aluminum scrap, remains strong. However, the auto industry's ups and downs, largely due to supply chain issues, have added a bit of a twist to the story.

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

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2018-2030

BASE YEAR

2021

FORECAST PERIOD

2023-2030

HISTORICAL PERIOD

2018-2020

UNIT

Value (USD Million)

KEY COMPANIES PROFILED

Constellium SE, Hindalco Industries Ltd., Kuusakoski Group, Matalco Inc., Metal Exchange Corp., Norton Aluminum Ltd., Real Alloy, Rio Tinto Ltd., & Others

SEGMENTS COVERED

End-User, Product, Scrap Type, and Geography.

CUSTOMIZATION SCOPE

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North America Aluminium Scrap Market Infographic

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We dig deep into the market, looking at both the numbers (quantitative) and the less tangible aspects (qualitative), breaking it down by segmentation based on economic and non-economic factors. You'll get market value data (in USD Billion) for every segment and sub-segment. We'll pinpoint the region and segment we expect to see the most growth and which one will be the dominant force. Our geographical analysis highlights product/service consumption and the factors influencing the market in each region. We provide a competitive landscape, ranking the major players and detailing their new launches, partnerships, expansions, and acquisitions over the last five years. You'll also get extensive company profiles, including overviews, insights, product benchmarking, and SWOT analysis for key market players. We'll give you the current and future market outlook, considering recent developments, growth opportunities, drivers, and challenges in both emerging and developed regions. We also include an in-depth analysis using Porter's five forces, a look at the market's Value Chain, and discuss market dynamics and growth opportunities in the coming years. Plus, you get 6 months of analyst support after the sale.

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