According to a report from Transparency Market Research, the value of the global recycled aluminum market was US$4.8 billion in 2022, and the market size was expected to reach US$10.3 billion in 2031, growing at a compound annual growth rate (CAGR) of 8.9% during the period from 2023 to 2031.
The recycled market is growing continuously due to metal’s properties of not losing its strength and usability when recycled. With these properties, more and more industries have started to use recycled steel and metals for different applications.
Besides, owing to people’s rising awareness of environmental preservation and the government’s policy support, the industry has become more environmentally friendly and prefers recycled metals.
Global recycled aluminum market to grow at CAGR of 8.9% in 2023-2031
2 May 2023 15:49 reported by Joy Liu
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