According to IMARC Group’s latest report, titled “Metal Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global metal recycling market size reached US$ 232.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 304.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.
Metal recycling is the method of processing and recovering scrap metal from end-of-life products. It involves refining unprocessed prompt and obsolete scrap into commodity-grade material. In comparison to new material, metal recycling prevents scrap metal from ending up in landfill sites and offers a lower carbon footprint and more efficient resource utilization. On account of these benefits, metal recycling is widely adopted by various industry verticals, including consumer appliances, automotive, and aerospace.
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Metal Recycling Market Trends:
The escalating demand for steel and a rapid rise in industrialization and urbanization, particularly in developing regions, is primarily contributing to the global metal recycling market growth. Other than this, there has been an increase in concerns regarding the elevating levels of greenhouse gas (GHG) emissions and depletion of natural resources. This rise has prompted governments of various nations to enforce the use of recycled metal in end use industries by implementing several favorable policies and regulations, which is further driving the market growth.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Aurubis AG
- Commercial Metals Company
- Dowa Holdings Co. Ltd.
- European Metal Recycling Ltd (Ausurus Group Ltd)
- Nucor Corporation
- OmniSource LLC (Steel Dynamics Inc.)
- Schnitzer Steel Industries Inc.
- Sims Limited
- Tata Steel Limited.
Key Market Segmentation:
The report has categorized the market based on metal type, type, end use industry and region.
Breakup by Metal Type:
Breakup by Type:
- Ferrous Metal
- Non-Ferrous Metal
Breakup by End Use Industry:
- Building and Construction
- Industrial Machinery
- Electronics and Electrical Equipment
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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