According to a new report published by Allied Market Research, titled, “Metal Recycling Market by Metal Type, Scrap Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global metal recycling market size was $217.0 billion in 2020 and is expected to reach $368.7 billion by 2030, registering a CAGR of 5.2% from 2021 to 2030.
Metal recycling refers to reprocessing of metal waste into ferrous and non-ferrous metals to reduce greenhouse gas emission levels, to preserve natural resources, and manage energy consumption.
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Benefits of Metal Recycling:
- Reduces future scarcity of high-value resources.
- Generates economic value.
- Minimizes greenhouse gas emissions.
- Limits environmental damage.
Government Initiatives:
- Various governments promote a conducive environment for metal waste recycling.
- Example: Japan’s Home Appliances Recycling Law requires consumers to dispose of appliances (e.g., refrigerators, air conditioners, washing machines) to retailers or scrap traders for recycling.
Scrap Metal Market Classification:
- Divided into ferrous metal and non-ferrous metal.
- Sources of scrap include automobiles, railroad tracks, ships, household appliances, and consumer electronics.
Market Growth:
- Ferrous metal is the fastest-growing segment.
- Expected to grow at a CAGR of 7.4% by 2030.
Aluminum Recycling in Europe:
- According to the European Aluminum Foil Association (EAFA), aluminum closure recycling rates in Europe exceed 50%, driven by effective collection and recycling schemes
Metal Recycling Market Segmentation Based On:
The metal recycling market is segmented on the basis of metal type, scrap type, end user, and region. By scrap type, the market is bifurcated into old scrap, and new scrap. The old scrap segment generated the highest revenue in 2020. By metal type, the market is fragmented into ferrous and non-ferrous metals.
The ferrous segment dominated the market in 2020. By end user, the market is categorized into building & construction, packaging, automotive, shipbuilding, electronics & electrical equipment and others. The automotive segment was the highest revenue contributor owing to increased demolition rate. However, electronics contain heavy and high valued metals, such as lead, copper, gold, and aluminum and its recycling ensures natural resources conversation. Therefore, electronics and electrical equipment industry is the fastest growing sector during the forecast period.
Region-wise, the market analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific region generated the highest revenue in 2020.
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Key Market Players:
- ArcelorMittal
- Nucor Corporation
- Commercial Metals Company
- SIMS Metal Management Limited
- Aurubis AG
- European Metal Recycling Limited
- Tata Steel
- Dowa Holdings Co., Ltd.
- OmniSource Corporation
- Schnitzer Steel Industries, Inc.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging global metal recycling market trends and dynamics.
- In-depth market analysis is conducted by global metal recycling market estimations for the global metal recycling market segments between 2020 and 2030.
- Extensive analysis of the global metal recycling market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global metal recycling market forecast analysis from 2021 to 2030 is included in the report.
- The key market players within containment barrier market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global metal recycling market.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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