Notable R&D initiatives suggest that metal recycling is a highly integral process to reverse environmental concerns pertaining to over-flowing landfills, growing carbon trail as well over dependence on mining and extraction activities. Besides adequate recycling investments in paper, plastic and glass industries, metal recycling in itself is a fast-growing industry.
Scrap metal recycling of iron, brass, aluminum and steel are integral to reduce landfill accumulation and surged mining and extraction activities that eventually lead to enormous environmental pollution. Post recycling, metal can be used adequately across diverse applications such as manufacturing industries as recycled metals retain their original usability as its features remain largely unaltered. Ferrous and non-ferrous metal recycling constitute major categories in metal recycling space. Ferrous category includes iron and all iron derived metals, whilst non-ferrous category includes all other metals that are not iron based.
One of the most versatile metals that can be directed towards metal recycling is steel which may be obtained from various end-use industries such as construction and automobile industries, and can also be retraced back into the same end-use industries post metal recycling activities. Additionally, aluminum recycling is touted to be an energy efficient vertical as recycled aluminum records considerably less energy consumption as opposed to extracted one. Developed economies such as North America are ardently dependent on aluminum recycling.
E-Waste and Automotive Recycling Verticals to Render Potential Opportunities in Metal Recycling Space
Electronic and automotive recycling are emerging as potential opportunities for metal recycling industry participants. Electronic waste is substantially becoming a challenging menace and it is a potential contributor towards landfill accumulation and associated complexities such as toxic emissions and environmental pollution. ON the one side with favorable government policies encouraging optimum e-waste management, lack of adequate recycling facilities and technologies pertaining to seamless separation of clean metal scrap that can be later used in secondary applications continue to remain starkly deficient, thus posing substantial challenge in metal recycling activities.
Automotive recycling is a large scale contributor towards circular economy owing to its dependence on recycled metals such as steel that are redirected back towards automotive industry as well as other secondary industries. Energy conservation and judicious use remain primary drivers for automotive recycling, which further influences growth in global metal recycling market.
Besides electronic waste, automotive recycling is also leveraging ample opportunities in metal recycling market as developing countries fortify their position in the league. At the backdrop of hyper growth oriented automotive industry in India led by increasing car owners as well as massive adoption in logistics and transit activities, India remains a promising hub for automotive recycling, which also leverages novel growth opportunities in metal recycling space.