After the pandemic in 2020 and early 2021, global aluminium demand has made a strong comeback and is now on a steady growth trajectory. According to industry data, total global consumption hit 97.6 million tonnes in 2023 and is projected to rise to 100.8 million tonnes in 2024, primarily driven by the release of pent-up demand. Out of this total, recycled aluminium made up 27.7 million tonnes in 2023, with a slight increase to 28.4 million tonnes in 2024.
As per AL Circle's report, the global aluminium recycling market is set to experience notable growth from 2023 to 2032. By 2024, the industry had already shown consistent progress, due to strategic moves and investments from key players in the field.
In 2024, global aluminium consumption, which includes both primary and recycled metal, saw a rise of 3.28 per cent, hitting a total of 100.8 million tonnes. This total breaks down to 72.4 million tonnes of primary aluminium and 28.4 million tonnes of secondary aluminium.
Low-carbon aluminium production trend
In 2024, the world saw a remarkable production of low-carbon aluminium, reaching a total of 55.2 million tonnes. This impressive figure was primarily fueled by 41.7 million tonnes sourced from secondary aluminium, along with 13.5 million tonnes coming from primary aluminium that was produced using renewable energy.
Primary aluminium: Low-carbon production & projects
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