The consumption of new and old aluminum scrap in the US is projected to grow steadily from 2024 onwards, with annual increases showing a modest uptick. From 2024 to 2028, the consumption grows from 4.0676 million metric tons to 4.1268 million metric tons, reflecting a slight upward trend over these five years. Compared to the stable demand observed in previous years, the forecasted average annual growth rate, or CAGR, indicates a gradual increase in consumption.
Future trends to watch for include:
- Technological advancements in aluminum recycling enhancing efficiency.
- Regulatory changes impacting recycling rewards or penalties.
- Global market shifts influencing supply and demand dynamics.
- Domestic manufacturing trends that could increase aluminum demand.
