Secondary Aluminum Alloy Market - Regional Analysis
APAC Market Forecast
Asia Pacific industry is predicted to hold largest revenue share of 65% by 2035, Significant factors, including the rising focus on sustainable and eco-friendly practices, are catering to the region’s market growth. Besides, the Asia-Pacific region is also growing at a rapid pace, with countries such as China, India, Japan, and South Korea being major producers and consumers of these alloys. Moreover, companies are also investing significantly in secondary aluminum alloys, which is also expected to create a positive impact on the market in the upcoming years.
Middle East & Africa Statistics
Over the forecast period, the Middle East & Africa secondary aluminum alloy market is projected to expand at a CAGR of 5.5%. The region's expansion is expected to be fueled by a stable supply of aluminum scrap generated by numerous companies that produce wasted aluminum products. As these regions' economies and industrial activities expand, so does the amount of scrap aluminum accessible for recycling. Each year, the Middle East generates a massive amount of aluminum garbage. Over 500 million aluminum cans of the beverage are utilized in UAE alone, out of which just 5% is recycled and the rest is collected by scrap dealers or goes directly to landfills.
