Metal
Recycling Market Overview to 2023:
Metal
recycling is the utilization of scrap material and converting them into
reusable metal. It does not alter the properties of the metal. Steel, iron,
lead, copper, zinc are the generally recycled metals. The global metal
recycling market is due to reach USD 434,551 Mn by the end of 2023 at a CAGR of
8.04% over the forecast period of 2018-2023, reveals Market Research Future
(MRFR) in a detailed study.
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The pressing
need for energy conservation and surging awareness regarding the depletion of
natural resources is the prime drive for the growth of the global metal
recycling market. Recently, there has been mass awareness regarding the
conservation of natural resources. Moreover, recycling of metals requires less
energy consumption than procurement of metals from virgin ores.
Competitive
Landscape
- Kuusakoski
Recycling
- Norton Aluminium
Ltd.
- Commercial Metals
Company
- Nucor Corporation
- ArcelorMittal S.A.
- Novelis Inc.
- Tom Martin &
Co. Ltd.
- European Metal
Recycling
- Sims Metal
Management
- Aurubis AG
- REAL ALLOY
- DOWA HOLDINGS Co.,
Ltd.
Market
Segmentation:
The global
metal recycling market has been segmented based on type, scrap type, and
end-users.
By type, the
global metal recycling market has been segmented into ferrous and non-ferrous.
The ferrous segment is expected to account for the larger share of the market
over the forecast period. Ferrous metals contain iron in vast quantities and
can be ideally used for the production of large motors and electrical
equipment.
By scrap
type, the global metal recycling market has been segmented into old and new
scrap owing to its easy availability; the old scrap metal segment is expected
to hold the larger market share.
By end-user,
the global metal recycling market has been segmented into packaging,
shipbuilding, construction, automotive, and others. The construction segment is
expected to account for a larger share of the market due to the expansion of
the construction industry. Renovation and remodeling of old homes generate
considerable demand for steel which drives the growth of the market.
Regional
Analysis
The
Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA)
are the key markets for metal recycling.
APAC
dominated the global metal recycling market with a market share of 35.6% in
2017. Rapid economic progress, booming population, rigorous waste management in
the region contribute to the growth of the APAC metal recycling market. In
addition, various regulations implemented to support environmental protection
also spurs the growth of the market. China and India are the leading traders of
metal scrap on the international level while Japan is a leading consumer of
ferrous and aluminum scrap. China stood at USD 45,209.7 Mn in 2017.
Europe
accounts for the second largest share of 29% of the global metal recycling
market. Countries such as Germany, the UK, France, Belgium, and the Netherlands
are the leading importers and exporters of ferrous and non-ferrous scrap. The
European Union has laid down waste management policies to reduce the negative
impact on human as well as environmental health which has impacted the market
growth positively.
The Americas
hold 19% share of the global market but can capture a larger share in the
forthcoming years due to strict regulations pertaining to waste management and
recycling in the region.
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