Metal recycling market

Global Metal Recycling Market is valued at USD 203.7 Billion in 2021 and expected to reach USD 290.09 Billion by 2028 with a CAGR of 5.18% over the forecast period.

Metal recycling market report published by Brandessence Market Research and Consulting Pvt. Ltd. provides detailed information about Metal Recycling market from various aspects. This report consists of drivers, challenges, and opportunities that help the market to grow over the analysis period and recent trends which supports the growth of the market. This report consists of regional segmentation with product type and applications.

Scope of the Metal Recycling Market Report:-

Metal recycling is the process of recycling scrap metal. Recycling metals help to solve the energy crisis and can also be used to produce green energy. It is a foolproof solution for managing metal waste. Metal recycling uses scrap resources as raw materials and converts them into usable products. There are two main types of metallic debris: ferrous metals made of iron and its compounds, and all non-ferrous metals that can recover metals except iron. Metal recycling has environmental benefits in terms of saving energy, reducing waste and reducing emissions related to energy savings.

Scrap metal is one of the most valuable products that can be recycled, and it encompasses so many consumer products. From appliances to batteries to cans to clothes hangers, metal is everywhere in homes and offices. Recycling metal is important to keep this limited supply material out of landfills, to make money, and for environmental concerns. Although every kind of metal can be recycled again and again without degradation of properties, currently, only 30 percent of metal is recycled.

Scrape metal recycling is the processing of end life product or structured to reusable product. It can repeatedly recycle without degrading the quality or property of metal. The recycled product of metal may be raw material to the new goods. Due to low carbon emission while recycling the metal there is less carbon footprint. There are various steps involve in metal recycling such as collection of scrap from micro level to larger generator level after collection the next step in process is sorting the scrap, bifurcating according to its properties, after this the scrap is baled for shipment than the scrap is shredded and after shredding then the scrap is melted. After melting the scrap the scrap is processed for purification process in which the process involves use of powerful magnet system, electrolysis or other techniques. Metals are used for manufacturing various products such as furniture, beverage container, electronic appliances and many more. The energy consumption required for recycling metal is less than original product. For instance to recycle the aluminum the energy require is 90% less, while steel required 56% less energy and so on. Recycling of steel avoids use of 1400 pounds of coal, 2500 pounds of iron ore and 120 pounds of limestone.

This Metal Recycling Market report also covers the impact of COVID-19 on the global market. The pandemic caused by Coronavirus (COVID-19) has affected every aspect of life globally, including the business sector. This has brought along several changes in Metal Recycling market conditions. Increasing level of environmental concerns, rapid pace of industrialisation, rising demand for steel, raising endeavours by government to follow regulatory compliances for metal industries are the major factors for driving the growth of Global Metal Recycling Market.

Metal Recycling Companies:

• ArcelorMittal
• Commercial Metals Company (CMC)
• DOWA Holdings Co., Ltd.
• European Metal Recycling (EMR)
• Ferrous Processing & Trading Co. (FPT)
• Gerdau S.A.
• Kuusakoski Group
• Novelis Inc.
• Nucor Corporation
• OmniSource Corporation
• Real Alloy
• SA Recycling LLC
• Schnitzer Steel Industries, Inc.
• Sims Metal Management Ltd.
• Tata Steel
• Others

Metal Recycling Market Segmentation:

The global Metal recycling market is segmented on the basis of scrap type, type, equipment, end-user, and region and country level. On the basis of scrape type, the metal recycling market is classified as old scrap and new scrap. On the basis of type, the market is classified as ferrous and nonferrous. Based on equipment the global metal recycling market is divided into sequence analysis, manipulation, data management service, data analysis services. On the basis of end-user, the market is segmented into shipbuilding, consumer appliances, building and construction, automotive, packaging, equipment manufacturing and others (utensils and containers, aerospace, home and industrial furniture)

By Metal Type

• Ferrous Metals
• Non-Ferrous Metals

By Scrap Source

• Industrial
• Automotive
• Electronics
• Building & Construction
• Appliances
• Ship Recycling
• Others

By End-User

• Steel Industry
• Automotive Industry
• Electronics Industry
• Aerospace Industry
• Construction Industry
• Shipbuilding Industry
• Others

There are many benefits pertaining to recycling metal which are considerable cost savings, otherwise the metal production companies will have to make enormous efforts to obtain metal from the ore for production. In addition, recycling makes it possible to recover expensive metals and rare earth elements found in electronic waste. The automotive industry is one of the most important sources of scrap metal.

Major factors driving the growth of metal recycling market are rising government regulations on waste recycling and management and increasing focus towards efficient utilization of natural resources. In addition, growing industrialization and urbanization, rising income, and spending capability of people in developing economies such as China, Brazil and India are also anticipated to foster the demand for metal recycling within the coming few years. Furthermore, rising demand for metal recycling in various end use industries including electronic, building and construction, metal fabrication, automotive, medical and healthcare equipments and packaging among others is also anticipated to supplement the growth of global metal recycling market. However, unavailability of organized metal waste collection practice in various developing countries is one of the restraining factors for this market. In spite of that, rising demand for recovering metal from slag residue can be an opportunity for metal recycling market.

The metal recycling market quickly established its own market and became a profitable medium for multiple stakeholders, including scrap dealers, recycling companies and forging companies. The recycling process involves recycling metals from various devices and materials that are no longer used and therefore discarded. According to data from the American Iron and Steel Institute (AISI), steel is the most recycled material in the world. The recycling of scrap metal has brought huge economic and environmental benefits to buyers, sellers and end users. In terms of environmental benefits, it can be used to transfer metallic waste that would otherwise be thrown in landfills. Over time, these metals can seep into the ground and nearby water bodies and pollute the environment. It will also increase the carbon footprint.

Regional Analysis:

North America is expected to remain a dominant region in the Global Metal Recycling Market.

North America is the dominant region in the market with the largest share of the global Metal Recycling market, owing to a large urban population and strict government regulations and industrial compliances for maintaining sustainable development and carving out measures to protect environment. There is also a presence of heavy industrialisation and increasing construction activities in countries like US which adds to the dominance of the region in metal recycling market. UK is also expected to present a significant metal recycling growth. As per statistics, around 10 million tonnes of metal, was recycled in UK in 2019, 90% of which was exported worldwide.

Whereas Asia Pacific region is expected to grow at a fastest rate and exhibit a spurring growth in the Metal Recycling market. The major drivers being a large regional population which is expected to further boost demand for food, consumables, buildings and housings which accelerates the need for metal recycling. Moreover, increased awareness for environmental protection and increasing expenditure capacity of middle-class population is expected to further spur the market growth.

Asia Pacific is a largest market for metal recycling which is due to its increase in economic growth. According to World Economics paper published in 2017 Asia Pacific accounted over a 3rd of the world’s GDP. The fastest growing consumer market of metal recycling in Asia Pacific countries had combined population which is more than 4 billion in 2019. Asia Pacific is hub to foreign investors which increases the industrial sectors which is due to low labor cost and cheap availability of land, which increases the construction activities which increases the demand of metal recycling market.

The North America is a fastest growing region in metal recycling market. The government of Canada is working with industries, territories and provinces to promote the awareness of recycling and reusing of metal products. In 2015 scrape industry for ferrous was approximately USD 18.3 billion and in 2014 the scrape industry accounts for nonferrous was worth USD 32 billion.

On Special Requirement Metal Recycling Market Report is also available for below Regions and Country:

North America

• U.S
• Canada

Europe

• Germany
• France
• UK.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 203.7 Billion
Base year considered	2021
Forecast Period CAGR %:	5.18%
Market Size Expected in 2028:	290.09 Billion
Tables, Charts & Figures:	175
Pages	200
Companies/Key Players	ArcelorMittal, Commercial Metals Company (CMC), DOWA Holdings Co., Ltd., European Metal Recycling (EMR), Ferrous Processing & Trading Co. (FPT), Gerdau S.A., Kuusakoski Group, Novelis Inc., Nucor Corporation, OmniSource Corporation, Real Alloy, SA Recycling LLC, Schnitzer Steel Industries, Inc., Sims Metal Management Ltd., Tata Steel, Others
Segments Covered	By ScrapType, By Type ,By Equipment ,By End-user
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits for Metal Recycling Market Reports:

• Global Metal recycling market report covers in-depth historical and forecast analysis.
• Global Metal recycling Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
• Global Metal recycling market report helps to identify opportunities in the market place.
• Global Metal recycling market report covers an extensive analysis of emerging trends and the competitive landscape.