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FINANCIAL NEWS
GCC’s aluminum recycling market set for remarkable expansion
03 Jan 2013
(MENAFN) Frost & Sullivan stated that the aluminum scrap and recycling market in the Gulf Cooperation Council (GCC) is estimated to reach 593,434 metric tons in 2017 from 292,281 metric tons in 2010, reported Gulf News.
Between 2010 and 2017, the market’s compound annual growth rate (CAGR) stands at 10.6 percent.
Data shows that used beverage can scrap comprises between 35-40 percent of the industry, whereas door and windows scrap accounts for between 30-50 percent, engine scrap makes up 11 percent, wheel scrap 5 percent, sheet scrap 4 percent, and cable scrap and other types of mixed alloy scraps between 5-7 percent.
The bulk of aluminum re-melting facilities that use the scrap and form alloy grades are located in the UAE, Bahrain and Saudi Arabia.
Saudi Arabia plans to develop new aluminum smelters, whereas Qatar, the UAE, Oman and Bahrain are planning to expand existing smelters.
According to Frost & Sullivan, countries in the GCC are expanding the scrap recycling market in order to lower notable energy costs and be efficient operationally to reduce input costs and lower the carbon footprint.
Furthermore, the industry will be driven by the packaging industry and the expansion in automotive, construction and consumer sectors.
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