- Report ID: BMRC 158 | Number of pages: 200 | Publish Date: Dec 2019
Status: Published | Category: Chemical And Materials | Delivery Timeline:
"Global Metal Recycling Market is valued at USD 294.59 Billion in 2018 and expected to reach USD 388.31 Billion by 2025 with the CAGR of 4.92% over the forecast period."
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 market report published by the Brandessence Market Research and Consulting Pvt. Ltd. provides the detail information about Metal Recycling market from various aspects. This report consists of drivers, challenges and opportunities which help the market to grow over the analysis period and recent trends which supports the growth of market. This report consists of regional segmentation with product type and applications.
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.
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.
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.
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.
Key Players of Metal Recycling Market are 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.
Global Metal Recycling Market is segmented on the basis of waste, metal type, equipment, vertical. On the basis of waste, the market is segmented into usable and non-usable. On the basis of metal type, market is segmented into ferrous and non-ferrous. On the basis of equipment, the market is segmented into shears, briquette machines, shredders and granulating machines. On the basis of vertical, the market is segmented into automotive, steel industry, building, construction, packaging, electronic appliances, shipbuilding, aerospace and others.
By Metal Type:
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Metal Recycling Market Size By Waste (Usable, Non-usable) By Metal Type (Ferrous, Non-ferrous) By Equipment (Shears, Briquette Machines, Shredders, Granulating machines ) Forecast to 2025