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Mar 25, 2023

Aluminum Cans Recycling Market is to grow at a CAGR of 4.7 percent reaching USD 4.83 Bn by 2029

Pune, May 31, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global

Pune, May 31, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global market research firm has published a competitive intelligence market research report on the " Aluminum Cans Recycling Market ". The Aluminum Cans Recycling Market size was valued at USD 3.5 Bn in 2022. The total Aluminum Cans Recycling Market revenue is expected to grow at a CAGR of 4.7 percent during the forecast period, reaching USD 4.83 Bn by 2029.

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Aluminum Cans Recycling Market Scope and Research Methodology

The research report on the Aluminum Cans Recycling Market covers technology, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy, and industry planning analysis. The report includes the global market's drivers, opportunities, and restraints. It also includes the impact of these drivers, trends, and restraints on market demand during the forecast period. The report also highlights market opportunities on a global scale. The Aluminum Cans Recycling Market is analyzed at the country, regional, and global levels. The report examines the Aluminum Cans Recycling Market Strategies, as well as the major players' strategies and investment plans. The data from the Aluminum Cans Recycling Market was gathered using both primary and secondary research methods. Secondary research is used to identify key players. Secondary research was used to gather information for the Market's extensive, market-oriented, and commercial analysis.

Aluminum Cans Recycling Market Overview

Aluminum cans offer long-term food quality preservation benefits. Aluminum cans deliver almost 100 percent safety against light, oxygen , moisture, and other contaminants. These cans do not oxidize and are resistant to corrosion, providing one of the most extended shelf lives considering any packaging.

Moreover, these cans provide many benefits, such as stability, rigidity, and high barrier properties. They are used to store goods with longer shelf life and are transported for more considerable distances. Aluminum has significant properties, such as being softer and lightweight , owing to which the manufacturers can save costs associated with logistics.

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Aluminum Cans Recycling Market Dynamics

Rising environmental concerns worldwide have augmented awareness about the packaging materials utilized. The high energy consumption of packaging manufacturing is one of the aspects pushing recycling. Global warming, diminishing natural resources, and the impact of plastics on the environment are the chief trends influencing consumer demand. Initiatives by environmental groups and public awareness about the environment have increased awareness among users worldwide. Consumers are demanding packaging products that cause no or lower environmental impact. Consumers are progressively abandoning plastic usage, whereas the demand for recycled products is growing. Therefore, it is creating a high demand for metal-packaged products, including aluminum cans.

Aluminum Cans Recycling Market Regional Analysis:

North America held the largest market share in terms of revenue in 2022, thanks to growing concerns regarding using and consuming sustainable packaging materials. It accounts for about one-third of the total consumption of aluminum cans. Aluminum cans have a superior recycling rate and more recycled content than competing package types. According to MMR analysis, it's one of the most recycled materials in the market. Recycling saves more than 90 percent of the energy required to produce new metal, reducing production costs. In the United States, two aluminum cans are recycled for every three cans shipped across the region.

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Aluminum Cans Recycling Market Segmentation

By Recycling Source:

Based on the Recycling Source, Curbside Pickup Spots dominated the Aluminum Cans Recycling Market during the forecast period. Curbside recycling is the most widely used collection method for aluminum cans. Households and businesses separate recyclable materials from their regular waste and place them in recycling bins or carts for the collection method for aluminum cans.

By Technology:

Aluminum Cans Recycling Market Key Players Include:

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Key questions answered in the Aluminum Cans Recycling Market are:

Key Offerings:

Maximize Market Research is leading research firm, has also published the following reports:

Aluminium Fluoride Market : The total market size was valued at USD 1620.44 Mn. in 2021 and the total Aluminium Fluoride revenue is expected to grow at a CAGR of 2.51% from 2022 to 2029, reaching nearly USD 1976.24 Mn. The aluminium fluoride market is driven by healthy economic growth, especially in developing economies, which leads to a rise in the popularity of convenience packaged beverages and foods.

Food & Beverage Metal Cans Market : The total market is expected to reach US$ 56.81 Bn. by 2029, at a CAGR of 6.2% during the forecast period. The presence of excellent heat transfer properties and its easy-to-use form has increased the preference for metal cans by customers.

Aluminum Cans Market : The total market was valued at US$ 51 Bn. in 2021. The Global Aluminum Cans Market size is estimated to grow at a CAGR of 4.3%. The ready-to-drink beverage market has grown significantly in recent years, thanks to factors such as people's busy lifestyles, growing urbanization, and new product penetration.

Food Can Market : The total market size was valued at US$ 29.28 Bn. in 2021 and the total revenue is expected to grow at 6.1% from 2022 to 2029, reaching nearly US$ 47.02 Bn. The rise in public awareness of the negative consequences of using single-use plastics, as well as government intervention in banning the use of such plastics that hurt the environment, has fueled the growth of the Food Can Market.

High Strength Aluminum Alloys Market : The total market size was valued at US$ 33.42 Bn. in 2021 and the total revenue is expected to grow at 3.5% from 2021 to 2029, reaching nearly US$ 44.01 Bn. Increasingly stringent regulation of fuel efficiency and emissions among OEMs by regulatory agencies, coupled with the growing demand for lightweight components in the automotive industry drives the market growth.

About Maximize Market Research:

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