Metal Recycling Market Research Report.
Market Research
Future (MRFR) experts have prepared an in-depth analysis report that the global
metal recycling market is bound to touch a size worth USD 434,551 million at a
healthy CAGR of 8.04% during the forecast period (2018-2023). Metal recycling
involves reprocessing of metal waste into reusable metal. This process reduces
greenhouse gas emission levels, preserves natural resources, and also manages
energy consumption. On account of these advantages, many governments across the
globe are taking measures to promote metal recycling, which triggers the market
growth.
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Factors driving the
market expansion include presence of scrap vehicles, growth in energy savings
with reduced greenhouse gas emission levels, elevating industrialization and
urbanization in developing economies, and growing consumer awareness. Moreover,
the infrastructure development and construction related activities in
developing economies have led to massive demand for metal recycling. Another
factor positively influencing the market size is the growing demand in numerous
end-use sectors such as metal fabrication, electronics, medical &
healthcare equipment, and automotive which take active part in the recovery of
metal from scrap. The global metal recycling market observes colossal growth
due to presence of market players playing a vital role in generating high
revenue for the market. Increasing number of research and development
activities, partnerships, and collaborations by leading manufacturers attracts
more customers.
However
time-consuming nature of the metal recycling process can cause hindrance to the
market growth. On the other hand, the global market for metal recycling shows
immense promise as there has been an increased awareness regarding the
importance of resource efficiency and waste management. This will certainly
lead to more applications in several industries across the globe.
Metal Recycling –
Segmental Analysis The metal recycling market has been segmented on the basis of metal
type, scrap type, end-user, and region.
The metal type is
sub-segmented into ferrous and non-ferrous. The ferrous segment held the
largest market share of 59.2% in 2017, accruing value of USD 164,667.4 million.
It is expected to grow at the highest CAGR of 8.26% during the forecast period.
The growth can be attributed to the growing recycling rate and the high scrap
consumption across the globe.
Based on scrap type,
the market is segmented on the basis of old scrap and new scrap. The old scrap
segment held the largest market share of 66.8% in 2017, garnering USD 185,793.5
million and will expand further noting the highest CAGR of 8.43% during the
forecast period.
The various
end-users in the market are packaging, construction, shipbuilding, automotive,
and others. Among all end-users, construction segment held the largest market
share of 32.4% in 2017, amassing revenue worth USD 90,037.0 million. It will
continue to enjoy a good run at a CAGR of 8.27% during the forecast period.
Increased government funding, rapid urbanization, and growing population can
propel segment growth, in turn, shaping the global metal recycling market
positively.
Regional Outlook Global Metal
Recycling, by region, has been segmented on the basis of Americas,
Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
Among all regions,
Asia Pacific currently holds the top position in terms of market size globally
and will maintain its position in the coming years. The region observes rapid
economic development, burgeoning population, and several policies and
regulations that support environmental conservation. Moreover, increasing labor
force also underpins the market growth in the region. Emerging economies such
as China, India, and Indonesia contribute massively to the regional market and
propel the market growth in Asia Pacific.
The region of
Americas is also taking noteworthy strides in the global market due to
advancements in recycling technology and growing awareness regarding recycling.
Moreover, the market has expanded on account of increasing focus among private
sector companies and public sectors to offer environmental services, mainly
aimed at efficient and sustainable utilization of natural resources. The region
also enjoys immense government support with regard to policies and initiatives
regarding environment benefits of recycling metals.
Europe is expected
to maintain its notable position in the global market for metal recycling
during the forecast period. Europe occupies almost 29% share of the market, as
countries such as Germany, the U.K, France, Belgium, and the Netherlands are
major exporters and importers of ferrous and non-ferrous scrap metals.
The Middle East and Africa market is
growing steadily due to the established mining industry and growing economy
along with continuous industrialization. International players are penetrating
the regional markets in a bid to expand their customer base and also gain
access to localized markets. Furthermore, awareness regarding the benefits of
metal recycling is increasing in the region, which catapults the market
expansion.
Metal Recycling
Market – Competitive Dashboard Some
of the key players profiled in the report are European Metal Recycling, DOWA
HOLDINGS Co., Ltd., Aurubis, Sims Metal Management, ArcelorMittal S.A., Nucor
Corporation, Commercial Metals Company, Novelis Inc., Norton Aluminium Ltd.,
Kuusakoski Recycling REAL ALLOY, Tom Martin & Co Ltd, and others.
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