New York, United States , July 26, 2024 (GLOBE NEWSWIRE) -- The Global Aluminum UBC Scrap Recycling Market Size is Expected to Hold a Significant Share by 2033, at a Compound Annual Growth Rate (CAGR) of 7.9% during the projected period.
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Aluminium UBC (Used Beverage Can) scrap recycling is the gathering, sorting, and processing of used and discarded aluminium cans. These cans are an excellent resource for recyclable materials because aluminium is totally recyclable without losing quality. Presenting the concept of aluminium recycling as part of a circular economy encourages a shift in thinking towards sustainable consumption and conservation of resources. All of these factors are projected to help the aluminium UBC scrap recycling market growth. Recycling aluminium When compared to the production of aluminium from raw materials, it greatly reduces greenhouse gas emissions. As a result, recycling aluminium UBC garbage has both environmental and economic benefits. Continuous developments in recycling technology have enhanced production and reduced costs, making recovered aluminium more competitive in terms of both quality and price. Consumers are increasingly drawn to products and businesses that value sustainability. However, while aluminium is largely recyclable, technological constraints in sorting, cleaning, and processing may provide challenges.
Browse key industry insights spread across 240 pages with 111 Market data tables and figures & charts from the report on the "Global Aluminum UBC Scrap Recycling Market Size, Share, and COVID-19 Impact Analysis, By Process Type (Clean UBC, Contaminated UBC), By Recycling Method (Mechanical Recycling, Chemical Recycling), By Source (Household Waste, Commercial Waste, Industrial Waste), By Application(Re-melting & Refining, Manufacturing), By End User (Beverage Industry, Automotive Industry, Construction Industry, Consumer Goods, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The clean UBC segment is expected to hold the largest share of the global aluminum UBC scrap recycling market during the anticipation timeframe.
Based on the process type, the aluminum UBC scrap recycling market is categorized into clean UBC, and contaminated UBC. Among these, the clean UBC segment is expected to hold the largest share of the aluminum UBC scrap recycling market during the anticipation timeframe. Clean UBCs are simpler to handle and cheaper to process in recycling facilities. They require less sorting and cleaning, which leads to improved overall recycling efficiency.
The chemical recycling segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the recycling method, the aluminum UBC scrap recycling market is categorized into mechanical recycling, and chemical recycling. Among these, the chemical recycling segment is expected to grow at the fastest CAGR during the anticipation timeframe. Chemical recycling processes use lower temperatures and pressures, which leads to lower energy consumption and greenhouse gas emissions as compared to traditional aluminium manufacturing methods. Chemical recycling systems can accept a variety of feedstocks, such as mixed plastics, waste materials, and UBCs.
The commercial waste segment is expected to hold a significant share of the global aluminum UBC scrap recycling market during the anticipation timeframe.
Based on the source, the aluminum UBC scrap recycling market is categorized into household waste, commercial waste, and industrial waste. Among these, the commercial waste segment is expected to hold a significant share of the aluminum UBC scrap recycling market during the anticipation timeframe. Consumers can recycle UBCs by placing them in specified recycling bins or bringing them to recycling centres. Many cities and municipalities have started recycling programmes to assist collect UBCs from homes.
The re-melting & refining segment is predicted to dominate the aluminum UBC scrap recycling market during the anticipation timeframe.
Based on the application, the aluminum UBC scrap recycling market is categorized into re-melting & refining, and manufacturing. Among these, the re-melting & refining segment is predicted to dominate the aluminum UBC scrap recycling market during the anticipation timeframe. Remelting and refining aluminium scrap move garbage from landfills while reducing municipal solid waste. Aluminium is indefinitely recyclable, which means it may be recycled repeatedly without losing its properties.
The beverage industry sector is estimated to expand at the most rapidly CAGR throughout the anticipation timeframe.
Based on the end user, the aluminium UBS scrap recycling market is categorized into beverage industry, automotive industry, construction industry, consumer goods, and others. Among these, the beverage industry sector is estimated to expand at the most rapidly CAGR throughout the anticipation timeframe. The beverage industry focuses on aluminium cans used to package and transport beverages such as soda, beer, energy drinks, and other canned beverages.
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Asia Pacific is projected to hold the largest share of the aluminum UBC scrap recycling market over the anticipation timeframe.
Asia Pacific is projected to hold the largest share of the aluminum UBC scrap recycling market over the anticipation timeframe. The presence of major manufacturing companies stimulates market growth in Asia Pacific. The increased need for recycled aluminium in a number of applications, including as transportation, packaging, and building and construction, is driving market expansion in Asia Pacific.
Europe is expected to grow at the fastest CAGR growth of the aluminum UBC scrap recycling market during the anticipation timeframe. European Aluminium, an industry association that represents the whole aluminium value chain, created the Circular aluminium Action Plan (CAAP) to promote aluminium recycling across Europe. CAAP aims to boost recycling rates, lower carbon emissions, and promote a circular approach to aluminium production and use.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global aluminium UBC scrap recycling market are Novelis Inc., Alcoa Corporation, Hydro Extruded Solutions, Real Alloy, Sims Metal Management Limited, Schnitzer Steel Industries, ArcelorMittal, Ardagh Group, Kaiser Aluminum Corporation, Hulamin Ltd., Dowa Holdings Co., Tomra Systems ASA, and others.
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Recent Developments
- In February 2024, Alcoa indicated that it has reached an agreement with Alumina Limited on the terms and procedures for purchasing Alumina Limited, contingent on the signature of a scheme implementation agreement.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global aluminium UBC scrap recycling market based on the below-mentioned segments:
Global Aluminum UBC Scrap Recycling Market, By Process Type
- Clean UBC
- Contaminated UBC
Global Aluminum UBC Scrap Recycling Market, By Recycling Method
- Mechanical Recycling
- Shredding
- Sorting
- Melting
- Others
- Chemical Recycling
- Pyrolysis
- Solvolysis
- Others
Global Aluminum UBC Scrap Recycling Market, By Source
- Household Waste
- Commercial Waste
- Industrial Waste
Global Aluminum UBC Scrap Recycling Market, By Application
- Re-melting & Refining
- Manufacturing
Global Aluminum UBC Scrap Recycling Market, By End User
- Beverage Industry
- Automotive Industry
- Construction Industry
- Consumer Goods
- Others
Global Aluminum UBC Scrap Recycling Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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