Each year, almost 400 million tons of metal is reused across the globe for which metal recycling acts as the best solution to shrink the escalating environmental issues in this modern era according to a recent market intelligence report published by IndustryARC. As per the report, the global metal recycling market was valued at $300.12 billion as of 2018. It is evaluated to grow at a healthy compound annual growth rate (CAGR) of 7.5% during the forecast period of 2019-2025.
The report is titled: “Metal Recycling Market: By Type (Ferrous metals and non-ferrous metals); By End-User Industry (Construction, Industrial and others); & Geography Forecast (2019-2025).” It provides an in-depth analysis of market opportunities, market drivers, market trends, competitive landscape and strategic analysis of the global metal recycling market.
ISRI (Institute of Scrap Recycling Industries Inc), BMRA (British Metals Recycling Association), AMRA (Australian Metal Recycling Industry Association), CARI (Canadian Associations of Recycling Industries) are some of the major metal recycling trade associations, according to the analyst
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Metal Recycling Market: Leading Segments
Steel, concrete, plastics, paper and cardboard, aluminum, topsoil, paint, and untreated timber are the generally used recycled material in a construction site. American Iron and Steel Institute (AISI) states that steel is the most recycled material on the earth. Worldwide 40% of steel production is obtained from recycled steel. Augmenting investments in construction projects by both public and private sectors are creating numerous opportunities for the exposure of the metal recycling market. Thus, construction application is identified as the fastest growing application with a noticeable CAGR of 8% during the aforesaid forecast period.
APAC held a dominating demand share of 35% in the global metal recycling market as of 2018. Scrap metal plays a prominent role in developing the country’s economy and to maintain a better environment around. China, India, Japan, and Australia, are the developing countries in the APAC region which are boosting the growth and need for recycled metals. Expanding urbanization in massively populated countries such as India and China coupled with increasing consciousness related to waste management and resource efficiency is driving the requirement of metal recycling. In 2018, India has imported ferrous waste and scrap; remelting scrap ingots of iron or steel (excluding slag, scale) for a value of $3,408,463 thousand. And also experienced a 3.9% of annual growth in value during 2017-2018. Therefore, APAC metal recycling market is projected to grow at a steady growth rate in the near future.
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Metal Recycling Market: Growth Drivers
- Biotechnology, pyrometallurgy, and hydrometallurgy are the three effective metal sensing processes, which are mostly used in improving the metal recovery rates.
- Growing usage of sensors in metal detecting process, through infra-red scanning and x-ray, has been commonly found in large recycling facilities.
- Increasing demand for metal recycling, for End of Life Vehicles (ELV) in auto manufacturing and steel industry, is providing significant opportunities in the auto recycling industry.
- Growth of productivity in the construction sector is raising the demand for recycled metals.
- Extensive use of scrap metal has reduced the production costs for the automotive and shipbuilding industries especially in the APAC region.
Metal Recycling Market: Competitive Landscape
Some of the key strategic players were listed in the global metal recycling market report. They are Arcelor Mittal S.A, Nucor Corporation, Commerial Metal Company, Novelis Inc, Norton Aluminum Lts, Kuusakosi, European Metal Recycling, DOWA Holdings Co. Ltd., Sims Metal Management, and Tom Martin & Co. Ltd. which are holding a major market share of the global metal recycling market.
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A. U.K. Metal Recycling Market
B. Copper ScrapMarket
What can you expect from the report?
The Metal Recycling Market is Prepared with the Main Agenda to Cover the following 20 points:
- Metal Recycling Market Size by Product Categories & Application
- Metal Recycling Market trends & Relevant Market Data
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End-user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Metal Recycling Market Demand Analysis (Revenue & Volume)
- Country-level Analysis
- Competitor Analysis
- Metal Recycling Market Shares Analysis
- Value Chain Analysis
- Supply Chain Analysis
- Metal Recycling Market Strategic Analysis
- Metal Recycling Market Current & Future Market Landscape Analysis
- Opportunity Analysis
- Metal Recycling Market Revenue and Volume Analysis
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