Global Scrap Metal Recycling Market Size Study, by Type (Ferrous, Non-Ferrous), by End-Use Industry (Building & Construction, Automotive, Equipment Manufacturing, Packaging, Consumer Appliances, Others), and Regional Forecasts 2022-2032

Global Scrap Metal Recycling Market Size Study, by Type (Ferrous, Non-Ferrous), by End-Use Industry (Building & Construction, Automotive, Equipment Manufacturing, Packaging, Consumer Appliances, Others), and Regional Forecasts 2022-2032

The Global Scrap Metal Recycling Market is valued at approximately USD 67.23 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.60% over the forecast period 2024-2032. Scrap metals, produced during final product development, can be used as raw materials for new products without losing any properties. This recycling process leads to a lower carbon footprint and more efficient resource utilization compared to using virgin metals. Steel, in particular, is gaining traction as a recyclable material that aligns with environmental goals, preventing waste from ending up in landfills. Efforts by global steel companies to highlight the benefits of steel recyclability are key examples of this trend.

The market is being driven by the increasing need for waste management and recycling infrastructure globally. Government regulations are raising awareness of scrap metal recycling across industrial sectors. Metals such as aluminum can be recycled multiple times to produce various consumer products, such as packaging. Recycling scrap metals saves significant amounts of energy compared to producing virgin metals. For instance, one ton of recycled steel can reduce the use of 2500 pounds of iron ore, 1400 pounds of coal, and 120 pounds of limestone. However, the lack of adequate recycling infrastructure in many developing economies is impeding market growth. Key factors contributing to the market's growth include the rising need for waste management and government initiatives promoting recycling. Conversely, challenges such as the lack of recycling infrastructure and high operating costs are restricting the market's growth. Nevertheless, advancements in recycling technologies and strategic investments in recycling infrastructure present significant opportunities for market expansion.

The key regions considered in the Global Scrap Metal Recycling Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region accounts for a dominating position of the Scrap Metal Recycling Market due to increased production and favorable government policies. Europe is the fastest growing market, driven by demand from the automotive and construction industries. In North America, particularly in the U.S., aluminium production and imports are increasing steadily, contributing to the region's dominant position in the market. Middle Eastern and African countries are boosting their domestic metal recycling markets through export taxes on scrap metal. In Latin America, companies are becoming increasingly aware of the benefits of scrap metal recycling and are aiming to save energy consumption in the near future.

Major market players included in this report are:

ArcelorMittal

Aurubis AG

Kuusakoski Oy

Nucor Corporation

AIM Recyclage, Inc.

Sims Limited

Omnisource Corporation

Metallon Recycling Pte Ltd

DBW Metals Recycling

TKC Metal Recycling Inc.

European Metal Recycling Ltd.

Upstate Shredding – Weitsman Recycling

The David J. Joseph Company (Nucor Corporation)

Greenwave Technology Solutions, Inc.

CMR Green Technologies Ltd.

The detailed segments and sub-segment of the market are explained below:

By Type:

Ferrous

Non-Ferrous

By End-Use Industry:

Building & Construction

Automotive

Equipment Manufacturing

Packaging

Consumer Appliances

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa

Saudi Arabia

South Africa

RoMEA

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Detailed analysis of geographical landscape with Country level analysis of major regions.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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