Metal Recycling Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025– Growing Environmental Awareness is Driving the Growth of Global Metal Recycling market.
Metal Recycling Market is valued at USD 346.86 Billion in 2018 and expected to reach USD 468.56 Billion by 2025 with a CAGR of 4.39% over the forecast period.
Metal recycling comprises the recovery and processing of scrap metal from end-of-life products or structures and from manufacturing scrap, so that it can be introduced as a raw material to produce new goods. It can be recycled repeatedly with no degradation of its properties and qualities. It offers raw material for new products, while having a much lower carbon footprint and more efficient utilization of resources than new material. There are two main categories of scrap metal: ferrous metal and non-ferrous metal. While ferrous metal contains some degree of iron, non-ferrous metal does not contain iron as a component. Non-ferrous scrap includes aluminum, copper, lead, nickel, tin, zinc and others. The main stages for metal recycling process are collecting, sorting, processing, melting, purification, and solidifying.
Global metal recycling market report is segmented on the basis of metal type, end user and region. Based upon metal type, global metal recycling market is classified as ferrous metal and non-ferrous metal. Based upon end-user, global metal recycling market is classified as building & construction, packaging, automotive, industrial machinery, electronics & electrical equipment, shipbuilding and others.
The regions covered in this metal recycling market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Metal Recyclingis sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
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Key Players for Global Metal Recycling Market Reports–
Global Metal Recyclingmarket report covers prominent players like ArcelorMittal, Nucor Corporation, Commercial Metals Company, SIMS Metal Management Limited, Aurubis AG, European Metal Recycling Limited, Tata Steel,Dowa Holdings Co., Ltd., OmniSource Corporation, Schnitzer Steel Industries, Inc., Novelis Inc, Norton Aluminium Lts., Real Alloy, Tom Martin & Co Ltd. and others.
Growing environmental awareness is driving growth of the Global Metal Recycling market.
Scrap Metals are valuable materials which can be recycled again and again without degrading its properties. Approximately 40 percent of worldwide steel production is made using recycled steel and every year, around 400 million tons of metal are recycled worldwide. It is environmentally mandatory to recycle scrap and unused metal to preserve natural resources while requiring less energy to process than the manufacture of new products using new raw materials. Recycling emits less carbon dioxide and other harmful gasses. It saves money and allows manufacturing businesses to reduce their production cost. It is one of the stable markets whose demand will be present always because of need of metal in society. Industrialization and urbanization development in emerging economies such as China, India, Brazil are anticipated to increase the demand for metal recycling market within the forecast period. The growing complexity of various modern products and their material mix makes recycling increasingly difficult, which can be a restraining factor for this market. The use of sensors to identify metals through infra-red scanning and x-ray has become popular in metal recycling market and can create an opportunity for metal recycling market.
Asia Pacific is expected to dominate the Metal Recycling Market
Asia-Pacific is expected to dominate the metal recycling market due to rapid economic development, increase in population, favourable Government policies and regulations to support environmental protection and waste management. In addition, with the growing awareness of environmental well being in various Asia Pacific countries, there has been a strong set of frameworks for waste management which starts from collecting waste till it is disposed and anticipated to drive the metal recycling market in this region during the forecast period.
Key Benefits for Global Metal Recycling Market Reports –
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Metal Recycling Market Segmentation –
By Metal Type:
Ferrous Metal, Non-ferrous Metal
Building & Construction, Packaging, Automotive, Industrial Machinery, Electronics & Electrical Equipment, Shipbuilding, Others
North America (US., Canada), Europe (UK., France, Germany, Italy), Asia Pacific (China, Japan, India, Southeast Asia), Latin America (Brazil, Mexico), Middle East and Africa (GCC, Africa, Rest of Middle East and Africa)
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