Pune, Sept. 14, 2022 (GLOBE NEWSWIRE) — The global secondary aluminum smelting and alloy market includes analysis of global opportunities and industry forecast for the period 2023-2032. The global market was valued at USD 15.45 billion in 2022, registering a CAGR of 2.56% from 2023 to 2032. The base year considered for the study is 2021, and the forecast has been provided for the period 2023 at 2032.
Aluminum smelting requires a lot of energy and in some countries it is only profitable if there are low cost sources of electricity. Foundries sometimes benefit from exemptions from energy regulations such as renewable energy targets.
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In the secondary smelting process, recycled aluminum scrap is heated in electric arc furnaces to turn it back into molten metal. With this approach, it is possible to recover more than 95% of all recyclable materials from commercial and industrial waste. The alloying process involves adding other metallic elements, such as indium or niobium, to enhance the acid-leached High Purity Alumina (HPA) grades widely used for semi -drivers.
In the Hall-Héroult process, aluminum is generally extracted from its oxide, alumina, during the smelting process. An alumina refinery uses the Bayer process to separate alumina from bauxite ore. An aluminum foundry consumes a significant amount of electrical energy because it is an electrolytic process. Smelters are usually located near large power plants, often hydroelectric, to reduce costs and reduce their overall carbon impact. Since many smelters use imported alumina, smelters are often located close to ports.
Impact of Covid-19 on Secondary Smelting and Aluminum Alloy Market:
- In December 2019, the most recent outbreak of COVID-19 started in Wuhan (China) and since then it has rapidly spread across the world. As of March 2020, the countries with the highest rates of confirmed cases and reported deaths were China, Italy, Iran, Spain, Republic of Korea, France, Germany and the United States. United.
- Lockdowns, travel restrictions and business closures caused by the COVID-19 outbreak have impacted the economies and sectors of many countries. One of the major sectors affected by this outbreak is the global food and beverage industry, which is experiencing severe disruptions such as supply chain disruptions, cancellations of tech events and office closures. China is the center of global manufacturing and it also has the largest suppliers of raw materials. Due to plant shutdowns, supply chain challenges, and general market collapse caused by COVID-19, the bacon market growth is also hampered.
- The secondary smelting and aluminum alloy market will be significantly impacted by the global effects of the coronavirus disease 2019 (COVID-19) in 2021. Flight cancellations, travel bans and quarantines, restaurant closures, restrictions on all internal and external events, the declaration of states of emergency in over 40 countries, a significant supply chain downturn, stock market volatility, declining business confidence, rising public panic and uncertainty about the future are just some of the effects of COVID-19.
Secondary smelting and aluminum alloy MarketBy type:
The market is divided into two categories according to types: aluminum alloy and aluminum casting.
- Aluminum smelting is the process of manufacturing aluminum in a foundry using alumina as the main raw material. The most common way to manufacture aluminum is by smelting aluminum. Both batch and continuous techniques can be used for aluminum smelting. Alumina is used in the batch process to make primary aluminum.
- A mixture of fine alumina and petroleum coke (a solid carbon source) is used in this process, which is carried out in a reactor vessel with an inert atmosphere. In doing so, molten aluminum oxide is created, which can then be transformed into different metals, such as pure metal or alloys, depending on the use.
- In the continuous process, used instead of smelting, scrap sheets are recycled to create high-purity aluminum at a lower cost. Due to its energy efficiency compared to conventional production techniques such as smelting, Hall-Héroult processes, etc., aluminum alloy is gaining popularity. By creating the finished product directly from the raw components without requiring additional steps, alloying helps reduce operating expenses.
Aluminum alloy :
- In addition to pure aluminum, other elements such as copper, zinc, magnesium and others are heated and melted together during the alloying process. Aluminum is alloyed to modify certain aspects of its characteristics.
- These procedures are performed in an electric induction furnace, which is powered by electricity and has a non-ferrous metal (nickel or copper) lining to guard against metal contamination. Due to electrode polarization effects, molten salt bath alloys are used for the majority of aluminum alloys as they provide superior control over potential gradients within the bath.
Secondary smelting and aluminum alloy MarketPer request:
- The production of primary aluminum involves the use of secondary smelting and the aluminum alloy in the form of coke oven gas. Secondary smelting can be produced directly by alumina refineries, secondary metallurgical facilities, where it is used to electrolyze metal to make pure metal, and aluminum reduction cells.
- These gases are used by foundries to reduce their own electricity consumption. The creation of primary metal (aluminum) by electrolysis, which requires a significant amount of electricity, is where secondary smelting and aluminum alloying is most crucial.
Aluminum alloying and secondary smelting are processes used to make a variety of products, including beverage cans, automotive parts, and building materials.
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Global Secondary casting and aluminum alloy Market, based on regional analysis:
- The market is divided into North America, Latin America, Europe, Asia-Pacific, Middle East and Africa on the basis of region. In terms of market share, North America is the dominant or important region in the world. While the Asia-Pacific region is expected to grow at the fastest rate owing to the rapidly accelerating industrialization of the region and government measures to modernize and localize production practices in China, India and the other countries like Bangladesh and Malaysia.
- The second largest market region is Latin America. For the foreseeable future, Europe is also expected to experience significant growth. The Middle East & Africa market is expected to grow at the highest CAGR over the projection period.
Some key points of the Secondary Smelting and Aluminum Alloy Market Report are:
- An in-depth analysis of the global Secondary Casting and Aluminum Alloy Market by segments, along with trend-based information and factor analysis.
- Key companies operating in the global aluminum secondary smelting and alloying market include Aluar, Capral Aluminum, Taweelah Aluminum Extrusions (Talex), Golden Aluminum, Kaiser Aluminum & Chemicals, Alcoa, Constellium, Aleris International, Garmco, Almax Alluminio, Rio Tinto, and Chinese Aluminum Co. (Chalco).
- Analysis of major impacting factors in the regions that includes analysis, along with drivers, restraints, opportunities, and challenges prevailing in the global Secondary Casting and Aluminum Alloy market.
- Impact of covid-19 on the global secondary casting and aluminum alloy market.
Find more information on this topic in this report, “Aluminum Smelting and Alloying Secondary Market, by Product Type (Aluminum Smelting, Aluminum Alloying), by Application (Smelting, Fabrication, Others), by Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)” – Market size and forecast till 2032
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