The consumption of purchased new and old aluminum scrap at other consumers in the US is forecasted to decline significantly from 2024 to 2028. Starting from 1,630 thousand metric tons in 2024, it is expected to drop annually, reaching 285 thousand metric tons by 2028. This represents a considerable contraction in the market, with the compound annual growth rate (CAGR) indicating a sharp decrease over these years.
Year-on-year variation suggests a consistent downward trend, highlighting a strong decline momentum in the aluminum scrap market after a steady state before 2024, as 2023 figures weren't specified. The substantial drop from 2024 implies a significant shift in market conditions.
Future trends to watch for include changes in aluminum recycling efficiency, potential policy shifts toward promoting recycling or reducing consumption, and technological advancements that may alter scrap utilization. Monitoring global market demands and environmental regulations will also be crucial in understanding this trend.
