Aluminium Outlook
The demand for aluminium is propelled across key sectors including packaging, electrical, aerospace, and electric vehicles.
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Global Aluminium Market
The demand for aluminium is propelled across key sectors including packaging, electrical, aerospace, and electric vehicles. However, growth has been impeded by supply disruptions and production constraints. Notably, the adaptability of non-toxic aluminium finds its application in a diverse array of industries such as food, packaging, pharmaceuticals, construction, transport, and electronics, with Government initiatives further bolstering industry expansion. The Asia-Pacific region emerges as the pillar of growth, driven by rapid industrialisation, urbanisation, and thriving auto industries of Japan, China, and India.
The global aluminium market, valued at approximately USD 179 Billion in 2022, is anticipated to reach round USD 278 Billion by 2030, reflecting a steady CAGR of 5.61%.
Indian Aluminium Outlook
The Indian aluminium industry is expected to register a CAGR of around 5.60% from 2023 to 2028. With the tremendous demand for infrastructure and the Government’s initiatives, such as authorising Real Estate Investment Trusts (REITs) for foreign investors and establishing an Urban Infrastructure Development Fund, the Indian market presents a significant USD 19.65 Billion opportunity. These efforts are likely to drive growth in the Indian aluminium market, leading to a sustained high CAGR.
Our Approach
Our manufacturing process ensures that our recycled aluminium scraps are consistent, reliable, and of the highest quality. If you are looking for a sustainable aluminium product for your business, our recycled aluminium products are an excellent choice.
RECYCLING MARKET – OUTLOOK
Global Recycling Market
The global waste and recycling market is projected to experience rapid growth in the coming years due to advancements in technology, new regulations, and increased demand for recycled content. The growth highlights the strong momentum of the circular economy, supported by policymakers, major manufacturers, and recycling and waste management firms. In the future, there is a strong likelihood of a shift towards greater utilisation of recycled materials and the adoption of waste prevention and reuse models. The market was valued at USD 60.41 Billion at the end of 2022 and is anticipated to reach USD 88.01 Billion by 2030.
Indian Recycling Market
The concept of the circular economy is relatively new to India; slowly it is gaining prominence. The waste management industry in India holds significant potential, as currently, only 30% of the 75% recyclable waste is being recycled. The need for improvement in waste management arises due to the shortage of appropriate policies for collection, disposal, and recycling, along with the lack of efficient infrastructure in the country. The Indian recycling market is estimated to grow USD 35.87 Billion by 2028.
Source: https://www.precedenceresearch.com/recycled-metal-market
