The automotive industry is quickly emerging as a promising segment for companies in the supply of secondary metals. The industry is shifting towards manufacturing cars that are cleaner, lighter and safer. The need to cut both costs and carbon emissions has forced automotive companies to look towards recycled materials.
An important factor affecting the consumption of secondary metals is the growing popularity of electric cars. Manufacturers have started to replace steel with Aluminum. Aluminum is much lighter than steel, it allows to shape the vehicle easier and better, it is much more resistant to corrosion and it can be recycled infinitely. A rising awareness to produce more cost efficient also boosts the consumption of secondary iron and steel.
According to Transparency Market Research, the total market for secondary metals is estimated to be worth US$476.2 billion by the end of 2024. The demand for recycled metals in the automotive sector is likely to increase with a 4.5% compound annual growth rate (the fastest pace of all sectors).
Photos: in order to demonstrate an alternative way to use secondary metals in the automotive industry, 50 artists from around the world transformed scrap metal into life-size iconic cars in Poland.