In 2023, the consumption of purchased aluminum new scrap can stock clippings at other consumers in the US was recorded at 308.62 thousand metric tons. Looking at the forecast from 2024 to 2028, there is a consistent upward trend. The consumption increases annually, with a year-on-year growth rate of approximately 4.8% across this timeframe. The compound annual growth rate (CAGR) for these five years is projected to be about 4.6%.
Future trends to watch for:
- Economic factors influencing the aluminum market and recycling industry.
- Technological advancements in recycling processes that may impact scrap demand.
- Environmental regulations and sustainability initiatives affecting production and consumption.
