Metal Recycling Market is projected to grow at a CAGR of 5.8% during the forecast period (2022-2029).
The factors driving the growth of Metal Recycling Market includes rise in the production of finished goods, growing concerns related to greenhouse gas emissions and climate change, strict regulations imposed by Governments regarding recycling of waste materials and increasing demand for steel around the world. Moreover, rise in Governments spending on residential and infrastructure projects, growing application of metals in Automotive, Packaging and Shipbuilding industries, improvements in the living standards and increase in the launch of innovative products, are some of the additional factors supplementing the Global Metal Recycling Market. In addition, the rising investments by major players on research and development, strategic collaborations between leading companies, increasing disposable incomes and growing population growth rates, are further supplementing the market growth.
However, growth of the Metal Recycling Market is hindered due to increasing availability of cheaper alternatives.
The prominent players operating in the market are DOWA HOLDINGS Co., Ltd., Aurubis AG, Baosteel Group, Tata Steel, Nucor Corporation, ArcelorMittal, Sims Metal Management Limited, TOTALL Metal Recycling, Inc., CMC, and European Metal Recycling, among others.
Based on Type, the Ferrous Metals segment is predicted to grow at a significant CAGR during the forecast period
Ferrous Crap is increasingly used in steel and iron industry because it helps in minimizing carbon dioxide emissions, which is propelling growth of the segment.
Based on End-Use Sector, the Building & Construction segment is projected to expand at a remarkable CAGR over the forecast period
Rising concerns related to environmental pollution and increasing demand for construction metal products, are pushing segment’s growth.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Presence of the leading players such as DOWA HOLDINGS Co., Ltd, Baosteel Group and Tata Steel, increasing number of construction projects across India, China and Japan, rapid urbanization, rising per capita incomes and high population growth rates, are some of the important factors augmenting the Metal Recycling Market size in Asia-Pacific region.
Key Developments
- In January 2022, Nucor Corporation planned to launch its new state of the art sheet mil in Mason to expand its presence in Midwest and Northeast regions.
- In February 2021, Steel Dynamics Inc took the control of three metals recycling sites in South Texas near its prime scrap-generating manufacturing area to support their scrap needs.
- In October 2020, ArcelorMittal entered partnered with Triple M to establish Integrated Metal Recycling Inc. to offer support, services and choices for consumers and suppliers.
- In 2019, Aurubis AG completed the acquisition of Belgian-Spanish Metallo Group to continue the process of actively pursuing its multi-metal and recycling strategy.
Market Segmentation
Segmentation by Type
- Ferrous Metals
- Non-Ferrous
Segmentation by Scrap Type
- New Scrap
- Old Scrap
Segmentation by Equipment
- Shearing
- Shredder
- Briquetting Machines
- Granulation
Segmentation by End-Use Sector
- Automotive
- Building & Construction
- Shipbuilding
- Equipment Manufacturing
- Consumer Appliances
- Packaging
- Others
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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