New Report: Recycled Aluminum Market to Hit $100 Billion by 2031

This represents a robust CAGR growth of 7.7% over the period from 2022, when the market was valued at $48.7 billion, the report noted.

SEATTLE (Scrap Monster):According to DataM Intelligence's most recent research report, the worldwide recycled aluminum market is expected to develop at an incredible compound annual growth rate (CAGR) throughout the ten-year period from 2022 to 2031.

According to a detailed examination of the industry's key trends and new problems, the recycled aluminum market is expected to grow to $100.8 billion by 2031. According to the analysis, this indicates a strong compound annual growth rate (CAGR) of 7.7% from 2022, when the market was valued at $48.7 billion.

The transition to recycled aluminum has been sped up by industry participants' increased awareness of the harm that energy-intensive conventional methods of producing aluminum and extracting bauxite cause to the environment.

The need for recycled aluminum has increased due to the growing use of sustainable resources. In addition, using recycled aluminum has a smaller environmental impact because it produces only 0.3 metric tons of carbon dioxide per ton, which is far less than the 14 metric tons produced during primary manufacture.

Global laws and government programs are also thought to hasten adoption and foster the expansion of the recycled aluminum market worldwide.

The study offers a thorough examination of the key factors propelling and impeding the market for recycled aluminum's expansion.

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