The consumption of purchased aluminum scrap at secondary smelters in the US showed variability from 2013 to 2023, starting at 2.13 million metric tons and reaching 2.0292 million metric tons by 2023. The years highlighted both dips and recoveries. Key years experienced notable variations: 2015 saw a significant decline of approximately 15.21%, while 2016 continued this downward trend. A recovery phase followed from 2018 onwards, with steady growth observed. The average annual growth rate over the last five years (CAGR) stands at 1.01% by 2023.
Forecasts indicate a continued but modest upward trend in aluminum scrap consumption from 2024 to 2028, with a CAGR of 0.24% and an overall forecasted growth rate of 1.22% over this period. The value in 2028 is anticipated to be 2.0605 million metric tons, reflecting relatively stagnant growth.
Future trends to watch for include the potential impact of advancements in recycling technology, changes in aluminum demand driven by green initiatives, and potential regulatory changes affecting the recycling industry. These factors could influence both the supply and demand dynamics of aluminum scrap consumption in the upcoming years.
