The Global Secondary Aluminum Alloy Market

According to market research company Research Nester, this market will touch 63,244.79 million US-Dollar by 2030.

The growth is expected at a compounded annual growth rate (CAGR) of 4.90 percent over 2021-2030 from 39,198.54 million US-Dollar in the year 2020. As reported, the reason for this is the growing application of secondary aluminum in the manufacturing of automobiles and aircraft. “The total number of cars and commercial vehicles produced around the globe, according to the statistics by the International Organization of Motor Vehicle Manufacturers (OICA), grew from 58239494 and 19344025 numbers respectively in the year 2010 to 67149196 and 24637665 numbers respectively in the year 2019,” the research firm gave account. “Moreover, according to the statistics by the General Aviation Manufacturers Association (GAMA), the year-to-date (YTD) total shipment of airplanes grew from 2020 numbers in the year 2010 to 2658 numbers in the year 2019. Amongst these, turboprops grew from 368 numbers to 525 numbers, while business jets grew from 763 to 809 numbers during the same period.”

The automotive and aeronautics industry utilizes recycled aluminum alloys, also known as secondary aluminum alloys, as recycled aluminum is highly cost-effective and less energy-consuming, Research Nester informed. In 2018, the global recycling input rate (RIR) for aluminum amounted to 32 percent. The global recycling efficiency rate (RER) was 76 percent.

www.researchnester.com/reports/secondary-aluminum-alloy-market/3578

(Published in GLOBAL RECYCLING Magazine 1/2022, Page 11, Photo: O. Kürth)