Wilmington, Delaware, United States, May 04, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Global Aluminum Cans Recycling Industry stood at US$ 3.3 Bn in 2022 and is projected to reach US$ 4.9 Bn by 2031.
A surge in public and private investment in recycling collection infrastructure in developing countries is likely to offer significant business opportunities to companies in the market.
Beverage cans manufacturers are likely to increase the rate of adoption of recycling aluminum cans to promote a circular economy and also to comply with various government regulations pertaining to reuse and recycling of food & beverage packaging. Advancements in waste management practices in developed countries are likely to offer lucrative opportunities to manufacturers of recyclable aluminum beverage cans.
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Key Findings of Study
- Rise in Recycling Rates of Food & Beverage Containers to Boost Market: Extensive recycling of food & beverage containers made of aluminum is ascribed to focus of end-users of aluminum cans to promote or bolster aluminum recycling rates. This is expected to augment the Aluminum Cans Recycling Market size in the near future. Rise in aluminum scrap value in the past few years has positively influenced market dynamics. Surge in production of aluminum beverage cans, especially beer and soft drink cans, is expected to encourage the recycling of these cans. Based on type, the food & beverage containers segment is anticipated to account for major share from 2023 to 2031.
- Surge in Adoption of Curbside Recycling Bins: Based on source, curbside pickup spots are widely preferred. The curbside pickup spots segment is projected to account for the leading share of the market during the forecast period. Households are adopting curbside bins to recycle empty aluminum cans. Rise in implementation rate of close-loop aluminum recycling programs is likely to offer significant opportunities to companies in the Aluminum Cans Recycling Market. Municipalities in several countries are encouraging aluminum recycling programs in order to promote circular economy. Adoption of advanced aluminum recycling technologies, such as improved sorting and separation methods, is likely to enhance the recycling rates in the near future. This is poised to broaden the market outlook.
Key Drivers
- Rise in initiatives by governments in several countries to create aluminum recycling regulations and policies is a key driver of the global Aluminum Cans Recycling Market. Private companies including can manufacturers and waste management firms are collaborating to bolster aluminum recycling rates, which is likely to lead to a significant increase in recycling of beverage cans.
- Advances being made in methods used for aluminum scrap recycling are likely to accelerate Aluminum Cans Recycling Market development
- Rise in awareness about economic and environmental benefits of aluminum recycling is anticipated to bolster global Aluminum Cans Recycling Market. For instance, statistics by government agencies, such as the EPA, show that recycling conserves energy and saves natural resources. In the case of aluminum, the manufacture of recycled aluminum cans utilizes as much as 95% less energy than when cans are produced using the virgin ore (bauxite). As per another statistic shared by the U.S. EPA, recycling one ton of aluminum cans can conserve over 152 million Btu. These business statistics are expected to positively influence the market.
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Regional Growth Dynamics
- Europe is anticipated to account for the leading market share from 2023 to 2031. Presence of robust aluminum recycling infrastructure is likely to enhance the recycling rates. Stringent implementation of regulations is likely to spur recycling rates for aluminum cans. An instance is implementation of regulations in Europe which promote deposit return systems (DRS) for aluminum cans. Such regulations are likely to incentivize customers to return empty/used beverage aluminum containers for recycling.
- Asia Pacific and North America are projected to be lucrative markets for aluminum cans recycling. Focus of beverage can manufacturers and governments in these regions to improve recycling rates is likely to generate significant opportunities for companies.
Competition Landscape
The business landscape is consolidated, with small number large-sized companies and large number of small-sized companies.
Key companies operating in the global Aluminum Cans Recycling Market are
- Novelis
- Ball Corporation
- United Scrap Metal
- Brand & Howes Environmental
- Steinert
- Eldan Recycling A/S
- Reliance Scrap Metal
- Tal Metal Inc.
- Auscon Metals & Machinery
- Mason Metals Ltd.
- Eurometaux
- Bottleman Recycling Services
- Johnny Metal Recycling.
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Aluminum Cans Recycling Market Segmentation
By Source
- Curbside Pickup Spots
- Community Drop-off Sites
- Buyback Centers
- Others
By Technology
- Closed Loop Recycling
- Open Loop Recycling
By Type
- Food & Beverage Containers
- Hairspray & Deodorant Cans
- Inhaler & Ointment Sprays
- Paint & Enamel Sprays
- Others
By End-use
- Transportation
- Packaging
- Electrical & Electronics
- Building & Construction
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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