Secondary Aluminum Market to Reach $168.75 B by 2032, Fueled by Automotive and Construction Demand
The secondary aluminum market is projected to grow from $100.23 B in 2024 to $168.75 B by 2032, a 6.81% CAGR, as automotive and construction sectors increasingly adopt recycled aluminum for cost, energy, and carbon benefits. Key developments include Hydro’s high‑recycled‑content Cadillac component, Novelis’ new $5 B recycling‑rolling plant, and Nippon Light Metal’s closed‑loop battery scrap recycling, all boosting supply and reinforcing the circular economy.
The secondary aluminum market is projected to grow from $100.23 B in 2024 to $168.75 B by 2032, a 6.81% CAGR, as automotive and construction sectors increasingly adopt recycled aluminum for cost, energy, and carbon benefits. Key developments include Hydro’s high‑recycled‑content Cadillac component, Novelis’ new $5 B recycling‑rolling plant, and Nippon Light Metal’s closed‑loop battery scrap recycling, all boosting supply and reinforcing the circular economy.
The forecasted expansion signals a bullish outlook for secondary aluminum, likely supporting higher spot prices and encouraging investment in recycling capacity. Traders should monitor capacity build‑outs and regulatory incentives that could accelerate supply, potentially tightening margins in the near term.