In 2023, the consumption of purchased aluminum old scrap castings in the US stood at 371.40 thousand metric tons. The projected figures for 2024 to 2028 demonstrate a steady increase, with respective values reaching 381.69, 392.18, 402.57, 412.85, and 423.04 thousand metric tons. The year-on-year growth rates from 2024 to 2028 are approximately 2.70%, 2.76%, 2.66%, and 2.49%. The Compound Annual Growth Rate (CAGR) over the five-year forecast period is around 2.65%.
Future trends to watch for include technological advancements in recycling processes, which may increase efficiency and reduce costs, thereby potentially accelerating consumption growth. Additionally, evolving environmental regulations and sustainability initiatives may further drive demand for recycled aluminum materials. Monitoring these factors will be crucial for anticipating shifts in the aluminum scrap market.
