Scrap Metal Recycling Market by Scrap Type (New Scrap, Old Scrap), Metal Type (Ferrous, Non-Ferrous), Equipment, Source - Global Forecast 2024-2030
The Scrap Metal Recycling Market size was estimated at USD 46.41 billion in 2023 and expected to reach USD 49.37 billion in 2024, at a CAGR 6.30% to reach USD 71.19 billion by 2030.
The scrap metal recycling promotes sustainability by transforming waste metal materials into valuable resources for various industrial applications. Key players in the market involve scrap collectors, brokers, processors, smelters, refiners, manufacturers, and end-users. Industries such as automotive, construction, electronics, aerospace, shipbuilding, consumer goods manufacturing, and packaging utilize recycled metals to create new products such as steel rebar or structural beams for infrastructure projects. Massive growth in electronic waste generation and disposal and increasing use of recycled metal products by automotive and aerospace applications drive the demand for scrap metal recycling. Growing awareness of environmental conservation and resource efficiency has increased the demand for recycled metals. Government regulations on waste management encourage industries to adopt sustainable approaches and contribute to the circular economy. High costs associated with scrap metal recycling equipment and separation procedures and inappropriate infrastructure availability for scrap collection and separation in emerging economies may restrict the growth potential of the market. Increasing investments in recycling for facility expansion worldwide and ongoing technological advancements in scrap metal recycling equipment and procedures boost potential opportunities within the market.
Regional Insights
Industrialization has increased the adoption of scrap metal recycling services in the United States and Canada. The North American automotive and construction industries generate significant amounts of ferrous and non-ferrous metals as waste products that require recycling. The European Union's circular economy initiative aims at reducing waste generation by encouraging resource efficiency through recycling efforts. Stringent regulations regarding waste management and material recovery efforts bind EU countries. Germany and Turkey are major importers of ferrous scrap materials within Europe, with a combined import volume exceeding 30 million metric tons in 2022. The Middle East is experiencing increased adoption rates for scrap metal recycling services due to rapid urbanization and infrastructure development projects. Asia-Pacific countries such as China, Japan, and India are major steel producers. Rapid urbanization and industrial development have expanded the steel demand, leading to significant investment in efficient recycling processes.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Scrap Metal Recycling Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Increasing use of recycled metal products in automotive and aerospace applications
- Increase in need for electronic waste disposal
- Strict government regulations for waste management and environmental protection
- Market Restraints
- High costs associated with scrap metal recycling equipment and separation procedures
- Market Opportunities
- Increasing investments in recycling facilities worldwide
- Ongoing technological advancements in scrap metal recycling equipment and procedures
- Market Challenges
- Inappropriate infrastructure availability for scrap collection and separation in emerging economies
- Market Segmentation Analysis
- Scrap Type: Old scrap offers significant opportunities for resource conservation and landfill diversion
- Metal Type: Significant use of ferrous metals for heavy-duty applications
- Equipment: Growing adoption of briquetting machines in industries that generate a large volume of metal waste
- Source: High availability of scrap metal from the automotive and building & construction industry
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Scrap Metal Recycling Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Scrap Metal Recycling Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Nucor eyes Pacific Northwest for new mill
Nucor Corp. is planning to build a new rebar micro mill with an annual capacity of 650,000 tons in the Pacific Northwest region of the United States. The new rebar micro mill is expected to allow the company to better serve its customers in the region.
Nucor recycling subsidiary acquires scrap yards in Ohio
Nucor Corporation's subsidiary, River Metals Recycling, acquired the Cincinnati-based assets of Garden Street Iron & Metal, expanding its network to 19 recycling facilities. This transaction aligns with Nucor's overarching raw materials strategy and supports the group's electric arc furnace (EAF) steel mills.
Hydro invests in modernization of Alumetal recycling plant in Kęty, Poland
Norsk Hydro ASA invested approximately NOK 200 million in the modernization and expansion of the Alumetal recycling plant in Kęty, Poland. The main objective of this investment is to increase the plant's capacity by around 30,000 tonnes of foundry alloys, thereby strengthening Alumetal's position in the automotive market.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Scrap Metal Recycling Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Scrap Metal Recycling Market, highlighting leading vendors and their innovative profiles. These include Al Habari Engineering, Alcoa Corporation, Andritz AG, ArcelorMittal S.A., Arfin India Limited, Audubon Metals LLC by Koch Industries, Inc., Aurubis AG, Baosteel Co., Ltd., CASS, Inc., Commercial Metals Company, Constellium SE, Crestwood Metal Corp., European Metal Recycling Limited, Ferrous Processing & Trading, Great Lakes Electronics Corporation, Hindalco Industries Limited, Hulamin Limited, Kuusakoski Oy, Matalco Inc., Metalico, Inc. by Ye Chiu Metal Recycling (China) Ltd., Norsk Hydro ASA, Nucor Corporation, Nupur Recyclers Limited, OmniSource, LLC, Palco Recycle Industries Limited, Prime Materials Recovery Inc., Radius Recycling, Real Alloy Recycling, LLC, Remondis SE & Co. KG, Rio Tinto PLC, Scepter, Inc., Sims Limited, Tom Martin & Company Ltd., Tri-Arrows Aluminum, Inc., and TRIMET SE.
Market Segmentation & Coverage
This research report categorizes the Scrap Metal Recycling Market to forecast the revenues and analyze trends in each of the following sub-markets:- Scrap Type
- New Scrap
- Old Scrap
- Metal Type
- Ferrous
- Carbon Steel
- Cast Iron
- Engineering Steel
- Stainless Steel
- Non-Ferrous
- Aluminum
- Brass
- Copper
- Nickel
- Equipment
- Briquetting Machines
- Granulating Machines
- Metal Analysers
- Shears
- Shredders
- Source
- Aerospace
- Automotive
- Building & Construction
- Electronics Appliances
- Equipment Manufacturing
- Shipbuilding
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Georgia
- Illinois
- Massachusetts
- New Jersey
- New York
- North Carolina
- Ohio
- Pennsylvania
- Texas
- Washington
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Ferrous
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing use of recycled metal products in automotive and aerospace applications
- 5.1.1.2. Increase in need for electronic waste disposal
- 5.1.1.3. Strict government regulations for waste management and environmental protection
- 5.1.2. Restraints
- 5.1.2.1. High costs associated with scrap metal recycling equipment and separation procedures
- 5.1.3. Opportunities
- 5.1.3.1. Increasing investments in recycling facilities worldwide
- 5.1.3.2. Ongoing technological advancements in scrap metal recycling equipment and procedures
- 5.1.4. Challenges
- 5.1.4.1. Inappropriate infrastructure availability for scrap collection and separation in emerging economies
- 5.2. Market Segmentation Analysis
- 5.2.1. Scrap Type: Old scrap offers significant opportunities for resource conservation and landfill diversion
- 5.2.2. Metal Type: Significant use of ferrous metals for heavy-duty applications
- 5.2.3. Equipment: Growing adoption of briquetting machines in industries that generate a large volume of metal waste
- 5.2.4. Source: High availability of scrap metal from the automotive and building & construction industry
- 5.3. Market Trend Analysis
- 5.3.1. Expanding research & development activities for development of innovative manufacturing process for scrap metal recycling in Americas
- 5.3.2. Expanding scrap metal recycling capabilities coupled with government involvement for promoting circular economy in APAC region
- 5.3.3. Increased domestic metal consumption and growing expansion efforts by the regional players in the EMEA
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Scrap Metal Recycling Market, by Scrap Type
- 6.1. Introduction
- 6.2. New Scrap
- 6.3. Old Scrap
- 7. Scrap Metal Recycling Market, by Metal Type
- 7.1. Introduction
- 7.2. Ferrous
- 7.3. Non-Ferrous
- 8. Scrap Metal Recycling Market, by Equipment
- 8.1. Introduction
- 8.2. Briquetting Machines
- 8.3. Granulating Machines
- 8.4. Metal Analysers
- 8.5. Shears
- 8.6. Shredders
- 9. Scrap Metal Recycling Market, by Source
- 9.1. Introduction
- 9.2. Aerospace
- 9.3. Automotive
- 9.4. Building & Construction
- 9.5. Electronics Appliances
- 9.6. Equipment Manufacturing
- 9.7. Shipbuilding
- 10. Americas Scrap Metal Recycling Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Scrap Metal Recycling Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Scrap Metal Recycling Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Nucor eyes Pacific Northwest for new mill
- 13.3.2. Nucor recycling subsidiary acquires scrap yards in Ohio
- 13.3.3. Hydro invests in modernization of Alumetal recycling plant in Kęty, Poland
- 13.3.4. AI-Based Metals Recycling Startup Sortera Raises USD 30 Million
- 13.3.5. Australian Recycling Company Acquires the U.S. Scrap Metal Recycling Business
- 13.3.6. Rio Tinto and Giampaolo Group enter into Matalco aluminum recycling joint venture
- 13.3.7. TOMRA’s newest machine leverages dynamic LIBS technology for aluminum sorting
- 13.3.8. Johnson Controls launches a partnership with Nucor to recycle nearly 100% of scrap steel at major Johnson Controls facilities in the United States
- 13.3.9. Speira acquires Real Alloy Europe
- 13.3.10. Aurubis and SMS group forge ahead with the first multimetal recycling plant in the U.S.
- 13.3.11. Kuusakoski Invests EUR 25 Million To Meet Increasing Demand For Pure Recycled Metal Products
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
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