Metal Recycling Market Size, Trends & Analysis

 

Metal Recycling Market

The Metal Recycling Market is anticipated to reach at USD 89 billion, growing at a CAGR of 8.1% over the forecast period (2020-2027)

The factors driving the growth of Metal Recycling Market includes increasing number of infrastructure projects, growing concerns about depletion of rare earth metals and rising demand for automobiles across the world. As per the report published by Goldman Sachs “Electric Vehicles: What’s Next VII: Confronting Greenflation”, 4.4 million Electric vehicles were sold in 2021, and the forecast sales is predicted to increase by 56% on YoY to 6.9 million vehicles in 2022, which will increase the application of metal recycling in the manufacturing of EV Battery. Moreover, the favorable Government policies regarding metal recycling and rising urbanization, are some of the factors propelling the Global Metal Recycling Market. The steel Scrap Policy issued by the Government of India, which aims at promoting metal scrapping, to boost the steel manufacturing, is expected to boost the Metal Recycling Market share in India, in the coming years.

However, the growth of Metal Recycling Market is hindered due to availability of less expensive substitutes such as plastics and composites.

The prominent players operating in the market includes Baosteel Group, Tata Steel, TOTALL Metal Recycling, Inc., Nucor Corporation, ArcelorMittal, CMC, DOWA HOLDINGS Co., Ltd., Aurubis AG, Sims Metal Management Limited and European Metal Recycling, among others.

Type: Segment Analysis

Based on the type, the Ferrous Metals segment is projected to grow at a significant CAGR over the forecast period due to rising demand to recycle metals such as iron and steel in the International Markets.

End-User: Segment Analysis

Based on the end-use sector, the Building & Construction segment is predicted to grow at a remarkable CAGR during the forecast period. The emerging need to minimize the impact of mining metals on the environment and growing use of scrap in the steel production, are some of the factors augmenting the growth of the segment.

Regional: Segment Analysis

Based on the region, Asia-Pacific is projected to dominate the market over the forecast period attributed to increasing construction activities, rapid urbanization, growing consciousness about waste management and rising population are some of the factors proliferating the growth of Metal Recycling Market size in Asia Pacific.

Market Segmentation

Global Metal Recycling Market by Type

  • Ferrous Metals
  • Non-Ferrous

Global Metal Recycling Market by Scrap Type

  • New Scrap
  • Old Scrap

Global Metal Recycling Market by Equipment

  • Shearing
  • Shredder
  • Briquetting Machines
  • Granulation

Global Metal Recycling Market by End-Use Sector

  • Automotive
  • Building & Construction
  • Shipbuilding
  • Equipment Manufacturing
  • Consumer Appliances
  • Packaging
  • Others

Global Metal Recycling Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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