Recycling is encountering a rebirth for managing growing volumes of solid waste. The attraction of recycling has got the attention due to much of the material is thrown away. However the governments across the world is working towards recycling most of the products to avoid pollution. The aluminum industry is comprised of many primary and secondary manufacturers. This is because the aluminum industry produces many different types of products and hence the scrap of aluminum industry comes in many different forms and has variety of uses in the industry. All over the world aluminum is one of the most profitable materials to recycle and has achieved higher recycling rates. There are number of aluminum products which can be recycled such as aluminum siding, automobile parts, foils, beverage cans etc. Due to the profitability business many organizations are collecting aluminum scraps for sales of intermediaries and ultimately to industries that reuse the material to make new products. In few cases, the companies that manufactures aluminum also purchase recovered aluminum Because demand for scrap aluminum is strong in both domestically and international market, the principal limitation to increased recycling is on the supply side of the market firms would purchase more scrap.
Aluminum is recycled through a variety of programs. The common consumer program which is followed are curbside and municipal. In these programs, items like beverage cans, aluminum foil, aluminum baking trays and pie pans are recycled. The aluminum industry actively supports the Recycling Partnership, which is a program dedicated to increasing participation in curbside recycling programs. Along with these programs, building and automotive parts are collected for recycling. The growth in recycled aluminum market has increased steadily since 1970 and has become the most valued market worldwide.
Based on type, the global recycled aluminum market can be classified into refiners and remelters. In recycling aluminum the refiners helps in production of casting alloys and deoxidize aluminum from scrap of varying composition. This refiners helps to mix this scraps together, then add alloying elements and further helps to remove certain unwanted elements after the melting process to produce alloys to customer’s specifications. Remelters produce wrought alloys and is one of the largest consumed alloys in worldwide recycled aluminum market. It is usually produce in the form of extrusion billets and rolling ingots, mainly produce from clean and sorted wrought alloy scrap. Refiners and remelters plays an important role in aluminum recycling and have crucial links with collectors, dismantlers, metal merchants and scrap processors etc.
Based on application, the global aluminum recycled market can be classified into construction, automotive, food & beverage and others. At the end of the production, more than 90 percent of the aluminum in building and automotive parts are recycled. These materials serve as a feedstock and are sent to aluminum recyclers to be melted down in the secondary production process.
Based on geography, the global aluminum recycled market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. North America and Europe are the major markets for recycled aluminum market, led by the upturn in growth of recycling activities. The recycled aluminum companies in Asia-Pacific and Latin America is investing more in research and development due to the environmental concern, growth in traditional production centers and increasing recycling activities which have led to demand for recycled aluminum market in Asia-Pacific market.
Major players operating in the global recycled aluminum market are Kuusakoski Group, CCL Industries., Novelis Aluminum, Century Metal Recycling, Tennessee Aluminum Processors and others. These companies hold a significant share of the market. Thus, the recycled aluminum market experiences intense competition.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.