Pune, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The Global Secondary smelting and alloying of Aluminum Market includes a global opportunity analysis and industry forecasts for the period 2023-2032. The global market was valued at USD 15.45 Billion in 2022, registering a CAGR of 2.56% from 2023 to 2032. The base year considered for the study is 2021, and the forecast has been provided for the period, 2023 to 2032.
Aluminum smelting requires a lot of energy, and in certain nations, it is only profitable if there are low-cost sources of electricity. Smelters are sometimes granted exemptions from energy regulations like renewable energy objectives.
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In the secondary smelting process, recycled aluminium scrap is heated in electric arc furnaces to transform it back into molten metal. With this approach, it is possible to recover over 95% of all recyclable materials from commercial and industrial waste. The alloying process involves adding other metallic elements, such as indium or niobium, in order to improve the acid-leached high purity alumina (HPA) grades used largely for semiconductor wafers.
In the Hall-Héroult process, aluminium is typically extracted from its oxide, alumina, during the smelting process. An alumina refinery uses the Bayer process to separate alumina from the bauxite ore. An aluminium smelter takes a significant amount of electric power because this is an electrolytic process. Smelters are typically situated close to major power plants, frequently hydroelectric ones, to keep costs down and lower their overall carbon impact. Given that many smelters use imported alumina, smelters are frequently situated close to ports.
Impact of Covid-19 On Secondary Smelting and Alloying of Aluminum Market:
- In December 2019, the most current COVID-19 outbreak started in Wuhan (China), and since then, it has rapidly expanded throughout the world. As of March 2020, the countries with the highest rates of confirmed cases and reported fatalities were China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the United States.
- Lockdowns, travel restrictions, and company closures caused by the COVID-19 epidemic have had an impact on the economies and sectors of numerous nations. One of the key sectors affected by this outbreak is the global food and beverage sector, which is experiencing severe disruptions like supply chain breakdowns, cancellations of technology events, and office closures. China is the centre of the world's manufacturing, and it also has the biggest raw material suppliers. Due to factory closures, supply chain challenges, and the general market collapse brought on by COVID-19, the growth of the bacon market is also being hampered.
- The market for secondary smelting and alloying of aluminium will be considerably impacted by the global effects of the coronavirus illness 2019 (COVID-19) in 2021. Flight cancellations, travel bans, and quarantines, restaurant closures, restrictions on all indoor and outdoor events, the declaration of states of emergency in more than 40 countries, a significant slowdown in the supply chain, stock market volatility, a decline in business confidence, rising public panic, and uncertainty about the future are just a few of the effects of the COVID-19.
Secondary Smelting and Alloying of Aluminum Market, By Type:
The market is divided into two categories based on types: aluminium alloying and aluminium smelting.
Aluminum smelting:
- Aluminum smelting is the process of making aluminium in a smelter using alumina as the principal raw material. The most common way to make aluminium is through aluminium smelting. Batch and continuous techniques can both be used for aluminium smelting. Alumina is used in the batch process to make primary aluminium.
- A mixture of fine alumina and petroleum coke (a solid carbon source) is used in this process, which is carried out in a reactor vessel with an inert atmosphere. By doing this, molten aluminium oxide is created, which can subsequently be processed into different metals, such as pure metal or alloys, depending on the use.
- In the continuous process, used instead of smelting, foil scrap is recycled to create high purity aluminium at a cheaper cost. Due to its energy efficiency as compared to conventional techniques of production like smelting, Hall-Héroult processes, etc., aluminium alloying has been gaining popularity. By creating the finished product directly from the raw components without the need for further stages, alloying helps to lower operating expenses.
Aluminium Alloying:
- In addition to pure aluminium metal, other elements such as copper, zinc, magnesium, and others are heated and melted together during the alloying process. Aluminum is alloyed to change certain aspects of its characteristics.
- These procedures are carried out in an electric induction furnace, which is powered by electricity and has a non-ferrous metal lining (nickel or copper) to guard against metal contamination. Due to electrode polarisation effects, molten salt bath alloys are used for the majority of aluminium alloying because they offer superior control over potential gradients inside the bath.
Secondary Smelting and Alloying of Aluminum Market, By Application:
Smelting:
- Primary aluminium production involves the utilisation of secondary smelting and aluminium alloying in the form of coke oven gases. Secondary smelting can be produced directly by alumina refineries, secondary metallurgical facilities, where it is used to electrolyze metal to make pure metal, and aluminium reduction cells.
- These gases are used by smelters to reduce their own electricity usage. The creation of primary metal (aluminium) through electrolysis, which demands a significant amount of electricity, is where secondary smelting and aluminium alloying are most crucial.
Manufacture:
Aluminum alloying and secondary smelting are processes used to make a variety of goods, including beverage cans, auto parts, and building supplies.
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Global Secondary smelting and alloying of aluminum Market, Based On Regional Analysis:
- The market is divided into North America, Latin America, Europe, Asia-Pacific, the Middle East, and Africa on the basis of region. In terms of market share, North America is the dominant or significant region worldwide. While the Asia-Pacific region is anticipated to expand at the quickest rate due to the region's rapidly accelerating industrialization and government measures to modernise and localise production practises across China, India, and other nations like Bangladesh and Malaysia.
- The market's second-most important region is Latin America. In the foreseeable future, Europe is anticipated to have significant growth as well. The market in the Middle East and Africa is anticipated to expand at the highest CAGR during the projection period.
Some Key Points of the Secondary Smelting and Alloying of Aluminum Market Report Are:
- An in-depth global Secondary smelting and alloying of aluminum Market analysis by the segments, along with an analysis of trend-based insights and factors.
- Major companies operating in the Global Secondary smelting and alloying of aluminum market, which include Aluar, Capral Aluminum, Taweelah Aluminium Extrusions (Talex), Golden Aluminum, Kaiser Aluminum & Chemicals, Alcoa, Constellium, Aleris International, Garmco, Almax Alluminio, Rio Tinto, and Chinese Aluminium Co. (Chalco).
- Key impact factor analysis across regions that includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the Global Secondary smelting and alloying of aluminum Market.
- Impact of covid-19 on the Global Secondary smelting and alloying of aluminum Market.
Find more insights on this topic from this report, “Secondary Smelting and Alloying of Aluminum Market, By Product Type(Aluminum Smelting, Aluminum Alloying), By Application(Smelting, Manufacture, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, And South America)” — Market Size and Forecasting to 2032
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