Metal Recycling Market

Global Metal Recycling Market is segmented by Product Type (Ferrous Metals, Non – Ferrous Metals), Scrap Type (Old Scrap, New Scrap), By Mode of Recycling (Shearing, Shredding, Baling, and Others), By End User Application (Automotive and Aerospace, Electrical and Electronic Equipment, Shipbuilding, Construction and Construction, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Metal Recycling Market Overview

The Global "Metal Recycling Market" is expected to grow at a high CAGR of 5.0% during the forecast period (2022-2029). 

• Metal recycling is the method by which waste and unused metals are converted into useful and new products. The process of recycling serves as a vital replacement for the waste disposal technique which helps in lowering greenhouse emissions and saving material wastage.
• The method of recycling aims at sustainable development by reducing the need for extraction of raw material from the earth’s crust and thereby preserving the global metal reserves.

Metal Recycling Market Scope and Summary

Metrics	Details
Market CAGR	5.0%
Segments Covered	By Software, By Sensors, By End-User, And By Region
Report Insights Covered	Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.
Fastest Growing Region	Asia Pacific
Largest Market Share	North America

 

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Metal Recycling Market Dynamics and Trends

• Rapid Industrialization, growing the urban population, and increasing awareness about resource management and waste management are the salient factors responsible for driving the Global Metal Recycling market.
• Changes in monetary and social conditions set apart by a significant increase in manufacturing and urbanization indicate the growing rate of industrialization among the countries of the world.
• According to the International Yearbook of Industrial Statistics 2018 released by the United Nations Industrial Development Organizations (UNIDO), the world manufacturing value added (MVA) rose by 3.5% in 2017, the highest rate in the last seven years.
• United Nations Department of economic and social affairs reveals that about 55% of the world’s population resides in urban areas and this figure is expected to reach 68% by 2050.
• This high growth rate of Industrialization in many countries of the world is one of the primary factors contributing to the growth of the Global Metal Recycling market.
• High costs of recycling processes, availability of skilled labor, and expensive raw materials are important aspects hindering the global metal recycling market.
• Recycling processes are associated with high costs such as logistics, equipment, raw materials, and other expenses which can impede the growth of this market.
• Besides, the unavailability of skilled labor who are well acquainted with working with sophisticated machines used in recycling processes will pose a significant problem to the company by increasing the company’s overall costs. According to Korn Ferry’s Global Talent Crunch study, the manufacturing industry will face a deficit crisis of 7.9 million skilled workers by 2030. Thus, the shortage of skilled labor is another major restraining factor in the growth of this market.

Metal Recycling Market Segmentation Analysis

• The Global Metal Recycling market has been segmented by metal type, end-user application, mode of recycling, scrap type, and geography.
• The market for recycling ferrous metals is gaining momentum and is expected to grow at a faster rate. Iron scrap and steel scrap are the primary ferrous metals that are recycled. According to the world steel association, 1689 million tons of crude steel were produced in 2017, and the annual growth rate from 2015 to 2017 was 2.1%. Ninety-nine million tons of scrap steel were exported, and various countries of the world imported 98.4 million tons of scrap steel in 2017.
• The Bureau of internal recycling states that 40% of the world’s steel is produced from scrap. In the case of non-ferrous metals, the world refined copper production from trash was 3.481 million tons in 2017 and this figure grew by 9.4% when compared to 2016. Aluminum is one of the primary non-ferrous metals which is most widely recycled after steel and paper.
• Recycled metals find their primary use in building and construction, automotive, electronics and electrical equipment, Shipbuilding, packaging industries, Commercial household products, Aerospace, and Industrial machinery applications.
• Building and construction industry is the dominant segment in this market because of the increase in the disposal of metal scraps into landfills. A study by the scientists at the Department of Materials Science, Carnegie Mellon University has concluded that most of the scrap metal is emerging from the construction and building industry.
• In 2016, the total metal scrap from the building and construction industry was 19 million tons in the United States which was followed by consumer goods which accounted for 6 million tons of metal scrap production, and industrial products which produced 11 million tons of metal scrap.

Global Metal Recycling Market​​​​​​​ Geographical Share

• The Global Metal Recycling market is segmented into North America, Europe, Asia Pacific, South America, and ROW.
• The Asia Pacific is the primary driving region for the global metal recycling market owing to the increasing steel consumption by countries like China and India.
• In 2017, China alone accounted for 46.4% of the world's steel use and contributed about 49.2% of the world’s total crude steel production. It hit a record 2.5 million tons of steel production per day and has remained relatively healthy. Steel output increased by 5.5% in China and other countries like South Korea and Taiwan; the steel output went up by 3.6 and 3.8%.

Metal Recycling Market​​​​​​​ Companies and Competitive Analysis

• The major players in this market incorporate competitive strategies like mergers and acquisitions to retain their position in the market and also contribute to the growth of their companies. For instance, In November 2018, Arcelor Mittal announced that the company had completed a transaction to acquire Ilva S.p.A and launched Arcelor Mittal Italia.
• This acquisition has provided the company with a unique operation to expand its presence in the European continent by acquiring Europe’s single largest steelmaking site.
• In November 2018, Commercial Metals company announced that it had completed the acquisition of 33 rebar facilities in the United States, including steel mills located in Knoxville, Tennessee; Jacksonville, Florida; Sayreville, New Jersey, and Rancho Cucamonga, California from Gerdau S.A.
• New product launches and expansion of facilities are some other essential strategies adopted by most companies to contribute to the growth of the company and improve their market growth rate. In January 2019, DOWA ECOSYSTEM CO LTD, a subsidiary of DOWA HOLDINGS CO LTD commenced the operation of recycling lines for lithium-ion batteries to safely treat lithium-ion batteries, efficiently recycle metals and increase processing.

The scope of the Report

• The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• Based on the metal type, the market is segmented into – Ferrous metals and non-ferrous metals.
• Based on the kind of scrap, the market is segmented as – Old scrap and new scrap.
• Based on the mode of recycling, the market is segmented as – Shearing, shredding, baling, torching, and crushing.
• Based on the end-user application, the market is segmented as – Automotive, electronics, and electrical equipment, building and construction, Shipbuilding, Packaging
• Industry, Commercial household products, Aerospace, and Industrial machinery applications. Based on geography, the market is segmented into the following regions – North America, South America, Asia-Pacific, Europe, and the Rest of the World.
• The report profiles the following companies – Gerdau SA, Nucor Corporation, Commercial Metals Company, Steed Dynamics Inc, Schnitzer Steel Industries Inc, Industrial Services of America, Arcelor Mittal, Aurubis AG, Dowa Holdings Co. Ltd, Novelis Inc, Kuusakosi, SIMS Metal Management, Tom Martin, Real Alloy, and Triple M Metal Recycling Ltd.

Why Purchase the Report?

• Visualize the composition of the Global Metal Recycling market across each indication, regarding the type, application, material, and function highlighting the critical commercial drivers, restraints, and players.
• Identify business opportunities in the Global Metal Recycling market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the Global Metal Recycling market-level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the principal products of all major market players

Target Audience

• Equipment Suppliers/ Buyers
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers

 

Frequently Asked Questions

What is the Growth Rate of the Metal Recycling Market?

Grow at a high CAGR of 5.0% during the forecast period( 2022- 2029).

What Companies Are Included in the Metal Recycling Market?

Gerdau SA, Nucor Corporation, Steed Mechanics Inc, Schnitzer Steel Industries Incorporation., Industrial Services of America, Arcelor Mittal, Aurubis AG, Dowa Coopération Co. Ltd, Novelis Inc and Triple M Metal Recycling Limited.

 

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