According to HTF MI, “Global Scrap Metal Recycling Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029”. The Global Scrap Metal Recycling Market is anticipated to grow at a compound annual growth rate (CAGR) of 7.58% from 2023 to 2028, reaching USD 58.49 Billion in 2023 and USD 112.94 Billion by 2028.
Scrap metal recycling involves the collection, processing, and reusing of discarded metal materials. This process aims to reduce the environmental impact of metal waste by extracting valuable metals for reuse in manufacturing and other applications. Commonly recycled metals include steel, aluminum, copper, and brass.
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Key and developing players who have been highlighted as part of the coverage include Schnitzer Steel Industries, Inc. (United States), Sims Metal Management Limited (Australia), European Metal Recycling (EMR) (United Kingdom), OmniSource Corporation (Steel Dynamics, Inc.) (United States), AMG Resources Corporation (United States), Nucor Corporation (United States), Gerdau S.A. (Brazil), CMA CGM Group (France), Dowa Holdings Co., Ltd. (Japan), ArcelorMittal (Luxembourg), Tata Steel Limited (India), SIMS Recycling Solutions (United States), Republic Services, Inc. (United States), Cohen Recycling (United States), Upstate Shredding – Weitsman Recycling (United States), Others.
Market Drivers
- Growing demand for metals and rising raw material costs
- Environmental concerns and sustainability initiatives
Market Trend
- Focus on circular economy and closed-loop systems
- Growing demand for recycled content in products
Market Opportunities
- Developing niche markets and specialized recycling solutions
- Promoting environmental benefits and carbon footprint reduction
Market Restraints
- Lack of infrastructure and processing capacity
- Contamination issues and quality control
Market Challenges
- Enhancing awareness and promoting responsible scrap metal management
- Competing effectively with virgin metals and alternative materials
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Key Market Segmentation:
The report has categorized the Scrap Metal Recycling market based on type, distribution channel, and region.
Market Breakdown by Applications:
- Ferrous, Non-Ferrous
Market Breakdown by Types:
- Building & Construction, Automotive, Equipment Manufacturing, Packaging, Consumer Appliances, Others
Report Scope
The Market size value in 2023 (USD 58.49 Billion)
Revenue Forecast by 2033 (USD 112.94 Billion)
Growth Rate CAGR Of (7.58%)
Historical Years (2018-2022)
Base Year (2022)
Estimated Year (2023)
Short-Term Projection Year (2028)
Regions Covered (North America, Europe, the Middle East and Africa, Latin America, and the rest of the world)
Note: With the help of the Growth Overview Charts, Historical Period Analysis, Forecast Period Analysis, Main Market Segmentation, Leading Key Market Players, TOC, List of Figures, and List of Tables in this report, you can get a thorough overview of the market.
Competitive Landscape:
Along with studying the profiles of the key players, the industry’s competitive environment has also been examined. Players profiled are Schnitzer Steel Industries, Inc. (United States), Sims Metal Management Limited (Australia), European Metal Recycling (EMR) (United Kingdom), OmniSource Corporation (Steel Dynamics, Inc.) (United States), AMG Resources Corporation (United States), Nucor Corporation (United States), Gerdau S.A. (Brazil), CMA CGM Group (France), Dowa Holdings Co., Ltd. (Japan), ArcelorMittal (Luxembourg), Tata Steel Limited (India), SIMS Recycling Solutions (United States), Republic Services, Inc. (United States), Cohen Recycling (United States), Upstate Shredding – Weitsman Recycling (United States), Others
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Key highlights of the report:
- Scrap Metal Recycling Market Performance (2018-2022)
- Scrap Metal Recycling Market Outlook (2023-2028)
- Scrap Metal Recycling Market Trends
- Scrap Metal Recycling Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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