India's compound annual growth rate of recycled aluminum demand from 2023 to 2028 is expected to reach 7-9%
February 7, 2025
According to foreign media reports, at an international conference recently held by the Indian Resource Recycling Association (MRAI) in Jaipur, Mohan Agarwal, managing director and chairman of Indian recycled aluminum smelter CMR Green Recycling, predicted that India's demand for recycled aluminum will grow strongly.
Agarwal predicts that between 2023 and 2028, demand for recycled aluminum will reach a compound annual growth rate (CAGR) of 7-9%, and demand is expected to increase from 1.7 million tons in 2023 to approximately 2.4 - 2.5 million tons in 2028. The automotive industry is expected to be the main driver of this growth, with its demand expected to grow at a compound annual growth rate of 7-11%.
According to a report released by the Indian government in January 2024, the Indian automobile industry has surpassed Japan to become the third largest market in the world, and is currently second only to China and the United States. The growing demand for recycled aluminum highlights the country's shift towards sustainable and circular manufacturing, especially in the automotive industry.
Agarwal said: "In 2023, automotive demand will account for about 40% of India's overall recycled aluminum demand and is expected to increase to 40-45% by 2028."
