Metal Recycling Market by Metal Type (Ferrous and Non-Ferrous Metals), Scrap Type (Old Scrap, and New Scrap), and End User (Building & Construction, Packaging, Automotive, Industrial Machinery, Electronics & Electrical Equipment, Shipbuilding & Others): Global Opportunity Analysis and Industry Forecast, 2021–2030
The global metal recycling market size was $217.0 billion in 2020 and is expected to reach $368.7 billion by 2030, registering a CAGR of 5.2% from 2021 to 2030.
Metal recycling refers to reprocessing of metal waste into new metal products to reduce greenhouse gas emission levels, preserve natural resources, and manage energy consumption. The governments in developed regions such as Canada, U.S., and UK and others have taken measures to promote metal recycling industry with good waste collection system, separation and sorting processes. For instance, the government of Canada has been working with the provinces, territories and industries to promote the re-use and recycling of metal products. This is projected to enhance not only the Canadian’s recycling industry but also its metal industry.
A rise in urbanization, and industrialization, and increased consumption of commodities along with depletion of natural resources and re-utilizing these resources has created immense scope, which drive the growth of the global metal recycling market. Market players such as Nucor Corporation, Aurubis AG, and others are engaged in acquisition, and product launch as a key developmental strategy to improve the product portfolio of metal recycling products. For instance, in May 2019, Aurubis AG acquired Belgian-Spanish Metallo Group, deals in metal recycling services. The acquisition aimed to improve the product portfolio of metal recycling services.
Major players such as ArcelorMittal, Aurubis AG, Commercial Metal Company, and others are adopting business expansion as the key developmental strategy to improve the product portfolio.
However, unorganized flow of waste metals and availability of less scrap collections zones are anticipated to hamper the growth of the market. Conversely, increase in construction of buildings owing to increase in disposal of building waste into the landfills is anticipated to provide lucrative opportunities for the growth of the global metal recycling market.
The metal recycling market is segmented on the basis of metal type, scrap type, end user, and region. By scrap type, the market is bifurcated into old scrap, and new scrap. The old scrap segment generated the highest revenue in 2020. By metal type, the market is fragmented into ferrous and non-ferrous metals. The ferrous segment dominated the market in 2020. By end user, the market is categorized into building & construction, packaging, automotive, shipbuilding, electronics & electrical equipment and others. The automotive segment generated the highest revenue during the forecast period. However, electronics contain heavy and high valued metals, such as lead, copper, gold, and aluminum and its recycling ensures natural resources conversation. Therefore, electronics and electrical equipment industry is the fastest growing sector during the forecast period.
Region-wise, the market analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific region generated the highest revenue in 2020.
COMPETITION ANALYSIS
The key players profiled in the metal recycling market include ArcelorMittal, Nucor Corporation, Commercial Metals Company, SIMS Metal Management Limited, Aurubis AG, European Metal Recycling Limited, Tata Steel, Dowa Holdings Co., Ltd., OmniSource Corporation, and Schnitzer Steel Industries Inc.
Major players are adopting acquisition and product launch as key developmental strategies to improve the product portfolio of the global metal recycling market. For instance, in February 2020, Commercial Metal Company acquired AZZ's continuous Galvanized Rebar business in Tulsa. It aims in improving the company's existing concrete reinforcement capabilities and improve the product portfolio of the company.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current and emerging global metal recycling market trends and dynamics.
In-depth market analysis is conducted by global metal recycling market estimations for the key market segments between 2020 and 2030.
Extensive analysis of the global metal recycling market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global metal recycling market forecast analysis from 2021 to 2030 is included in the report.
The key market players within market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global metal recycling market.
GLOBAL METAL RECYCLING MARKET SEGMENTS
BY METAL TYPE
Ferrous Metal
Non-Ferrous Metal
BY Scrap Type
Old Scrap
New Scrap
BY END USER
Building & Construction
Packaging
Automotive
Industrial Machinery
Electronics & Electrical Equipment
Shipbuilding
Others
BY REGION
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY PLAYERS
ArcelorMittal
Nucor Corporation
Commercial Metals Company
SIMS Metal Management Limited
Aurubis AG
European Metal Recycling Limited
Tata Steel
Dowa Holdings Co., Ltd.
OmniSource Corporation
Schnitzer Steel Industries, Inc.
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