Ongoing escalation across the construction industry coupled with the government mandates to recycle scrapped metal will stimulate the global metal recycling industry
The Global Metal Recycling Market size is projected to reach around USD 130 billion by 2025. Metal recycling is a metal recovering process to convert it into a reusable entity for several applications. The industry has witnessed considerable growth owing to growing multiple industries dependency on metal along with rising demand from the construction sector. The rising concern across the globe for the scarcity of metals coupled with environmental degradation from mining process is projected to escalate the metal recycling industry in the coming years.
Rising awareness to reduce the carbon count, coupled with shifting focus toward sustainable consumption is expected to proliferate the industry size. Government across the developed along with developing countries have announced strict norms to recycle and reuse the used metal. Furthermore, increasing regulatory body focus toward attaining energy security with ongoing promotion of consuming recyclable materials and adopting waste management practices is stimulating industry landscape.
The report also throws light on various aspects of the global metal recycling industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the metal recycling industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The metal recycling market holds a strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The metal recycling market is categorized into construction, automotive, consumer appliances, equipment manufacturing, shipbuilding, and others on the basis of application. The construction segment is expected to expand at a growth rate of around 6% over the forecast period on account of its rising infrastructure development across the emerging countries. The growing establishment of flat, apartments, and commercial complexes across developing countries, which in turn are expected to catapult the segment growth over the forecast timeframe.
Europe is projected to gain considerable growth over the forecast timeline. The regulatory bodies across the countries in the region have announced stringent norms to recycle metals in order to balance the product demand. Furthermore, the steady growth across various industries such as automotive, energy, and consumer appliance is stimulating the industry landscape. Furthermore, positive government support to boost recycling activities associated with the metal utilization is poised to complement the business outlook in the coming years.
The major players operating across the global Metal Recycling market include ArcelorMittal, Commercial Metals Company, Nucor Corporation, Aurubis AG, Tata Steel Limited, Sims Metal Management Limited, European Metal Recycling Limited, Dowa Holdings, Baosteel Group Corporation, Novelis, Norton Aluminum, and Kuusakosi including others. The industry for metal recycling is integrated with the participation of established global players across the globe. In addition, these companies are focusing on expanding their footprint through implementation of inorganic as well as organic strategies which in turn is proliferating the business outlook.
Segment overview of Metal Recycling market
- Metal Overview, 2018-2025, (USD Million)
- Scrap Overview, 2018-2025, (USD Million)
- New Scrap
- Old Scrap
- End - User Overview, 2018-2025, (USD Million)
- Consumer Appliances
- Equipment Manufacturing
- Regional Overview, 2018-2025, (USD Million and kilotons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- North America