Sunny forecast for
The world is hungry for metals, especially aluminium. The International Aluminium
Institute expects an 80% increase in global demand by 2050. This presents a gold-
en opportunity for recyclers, as industry leader Norsk Hydro is well aware.
The global aluminium scrap market
will reach EUR 23.7 billion by 2030,
according to market analysts at
Spherical Insights. This is quite a jump
from the EUR 5.3 billion in 2021. The
figures are based on the anticipated
40% increase in aluminium demand by
the end of the decade fuelled by an
uptake in various markets, including
packaging and transport – especially
automotive and aerospace.
ATTRACTIVE BUSINESS CASE
This scenario will require additional
production of 33.3 million tonnes of
the metal, bumping up output from
86.2 million tonnes in 2020 to 119.5
million tonnes by 2030. North America
currently holds the biggest market
share in the aluminium scrap segment
and analysts expect the region to
remain at the forefront. Total annual
demand from China is expected to
average 12.3 million tonnes with the
rest of Asia accounting for about 8.5
‘We have a good starting point, I
think,’ says Ingrid Guddal, head of
recycling at Norsk Hydro, when
addressing the market outlook for alu-
minium scrap players. ‘There is a lot of
demand for aluminium and this is defi-
nitely the case for recycled aluminium.
I expect the aluminium recycling mar-
ket to grow substantially, by roughly
A U T H O R Kirstin Linnenkoper
Norsk Hydro wants to double the
volume of aluminium scrap processed
annually by 2025.
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26-27-28-30_aluminium.indd 26 16-03-2023 09:18