Global Recycled Metals Market Research Report 2024(Status and Outlook)

Global Recycled Metals Market Research Report 2024(Status and Outlook)

Report Overview

Recycled Metals is Metals are valuable materials that can be recycled again and again without degrading their properties. Metals can be classified as ferrous and non-ferrous. Ferrous metals are combinations of iron with carbon. Some common ferrous metals include carbon steel, alloy steel, wrought iron, and cast iron. Non-ferrous metals product segment includes metals such as aluminum, copper, zinc, nickel, and lead.

Recycled metals play a vital role in sustainable resource management and help reduce the environmental impact of metal production. As industry and consumers increasingly focus on environmental considerations, demand for recycled metals will continue to grow, helping to achieve a more sustainable and circular economy.

The global Recycled Metals market size is projected to reach US$ 461,782 Million by 2029 from US$ 366,699 million in 2022 at a CAGR of 3.59% during 2023-2029. Rapid growth in the construction industry is key to driving the global Recycled Metals market to new heights strength. The unprecedented pace of urbanization, especially in regions such as Asia Pacific, Latin America, the Middle East and Africa, is driving a surge in urban infrastructure development, requiring a large supply of construction materials, which mainly include metals. At the same time, rapid industrialization in these emerging economies spurred the establishment of manufacturing facilities and industrial parks, requiring large quantities of metals, especially steel.

In addition, many governments are actively embracing the principles of a circular economy and promoting the continuous reuse and reuse of resources, which has led governments around the world to take a more proactive stance in recycling and utilizing recycled metals. The surge in the adoption of metal recycling technologies is also a major catalyst for the expansion of the secondary metals market. Relevant manufacturers are increasingly focusing on metal recycling. Effectively mitigate the impact of resource scarcity by repurposing scrap metal, extending the life of limited resources and ensuring a more sustainable supply. The adoption of recycling technology The huge demand for metals in the automotive industry, lower production costs, stable functions and strength of metals and other factors will also play an important role in promoting the Recycled Metals market.

At the same time, the lack of appropriate government laws in less developed countries, metal theft, lack of consumer knowledge, concerns about reduced natural resource supplies, quality and pollution issues, and disorderly competition will all pose challenges to the development of the Recycled Metals market.

Segment by Type, the Recycled Metals can be split into Ferrous, and Non-Ferrous. The Ferrous category has always occupied the most dominant market position and has occupied 70.02% of the market share in 2022, while the market share of Non-Ferrous is 29.98%. The demand for steel in infrastructure projects, buildings and bridges has resulted in a large supply of black scrap from construction and demolition activities. Ferrous metals such as steel are commonly used in a variety of end-of-life products, including automobiles, appliances and structural components. A wide range of ferrous scrap supply products helps increase the availability of scrap ferrous metal recycling. In addition, ferrous metals have historically enjoyed high recycling rates due to well-established and efficient recycling processes. Steel's magnetism simplifies the sorting and separation process, making recycling of ferrous metal scrap easier. Continuing innovations in steel recycling technology, including electric arc furnaces and advanced crushing technologies, are helping to make ferrous metal recycling more efficient and cost-effective.

Segmented by application, the Recycled Metals can be split into Building and Construction, Automotive, Equipment Manufacturing, Shipbuilding, Consumer Appliances, Battery, Packaging, and Others. Building and Construction and Automotive are the two most important sectors in the market. In 2022, Building and Construction and Automotive should occupy 24.13% and 29.66% of the market share respectively. Ongoing infrastructure development projects across the world, including the construction of buildings, bridges, roads and other public structures, are driving demand for recycled metals in the construction industry. At the same time, an increasing focus on sustainability and environmentally friendly building practices encourages the use of recycled metals. Many construction projects aim to achieve green building certification and promote the integration of recycled materials. For the automotive industry, large amounts of scrap metal are generated through the dismantling and recycling of end-of-life vehicles. End-of-life vehicles contain a variety of metals, including steel, aluminum and copper, which aid in recycling. The increasing use of aluminum in automotive components such as body panels and engine components highlights the importance of recycled aluminum in meeting the industry’s material needs. As well as the construction industry in Yiyang, the automotive industry is actively participating in circular economy initiatives that aim to create material cycles by recycling and reusing materials. This includes incorporating recycled metals into manufacturing supply chains.

On basis of geography, the Recycled Metals market is segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa, etc. In 2022, the Asia-Pacific market dominated the entire market with the highest market share of 56.64% and will expand at the highest growth rate during the forecast period. Strong economic growth in the Asia-Pacific region has driven a boom in the construction industry and also driven significant growth in the automotive industry. In addition, the Asia-Pacific region has become a global manufacturing center, with countries such as China being major contributors. The Asia-Pacific region's overall reliance on metals for various applications, coupled with the emphasis on sustainable practices, has resulted in high demand for recycled metals.

According to our calculations, the concentration of the global Recycled Metals market is very low, and participants are in fierce competition. In 2022, the CR5 and HHI of the global Recycled Metals market will be 10.89% and 0.24% respectively. The recycled metals market involves a wide range of players, including small and large recycling facilities, scrap yards and metal traders. The diversity of market participants has resulted in a fragmented industry structure. The barriers to entry for the recycled metals market are relatively low. This makes it easy for new entrants to join the market, thereby increasing competition. Furthermore, many local and regional players operate in the recycled metals market, leading to its low concentration. These local players typically cater to specific geographic markets, and their collective global presence disperses market concentration. Currently, the major players in the market include Novelis, Sims Limited, Commercial Metals Company, Nucor Corporation, Aurubis AG, Steel Dynamics, Inc, Dowa Holdings, Schnitzer Steel, Norsk Hydro ASA, Chiho Environmental Group, GFG Alliances, Guangdong Feinan Resources Recycling Co ., Ltd, European Metal Recycling, GEM Co., Ltd, Baowu.

This report provides a deep insight into the global Recycled Metals market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Recycled Metals Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Recycled Metals market in any manner.

Global Recycled Metals Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

Novelis

Sims Limited

Commercial Metals Company

Nucor Corporation

Aurubis AG

Steel Dynamics, Inc

Dowa Holdings

Schnitzer Steel Industries

Norsk Hydro ASA

Chiho Environmental Group

GFG Alliances

Guangdong Feinan Resources Recycling Co., Ltd

European Metal Recycling

GEM Co.,Ltd

Baowu

Market Segmentation (by Type)

Ferrous

Non-Ferrous

Market Segmentation (by Application)

Building and Construction

Automotive

Equipment Manufacturing

Shipbuilding

Consumer Appliances

Battery

Packaging

Other

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Recycled Metals Market

Overview of the regional outlook of the Recycled Metals Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors

You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents

The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly

Provision of market value (USD Billion) data for each segment and sub-segment

Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis

Provides insight into the market through Value Chain

Market dynamics scenario, along with growth opportunities of the market in the years to come

6-month post-sales analyst support

Chapter Outline

Chapter 1 mainly introduces the statistical scope of the report, market division standards, and market research methods.

Chapter 2 is an executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the Recycled Metals Market and its likely evolution in the short to mid-term, and long term.

Chapter 3 makes a detailed analysis of the market's competitive landscape of the market and provides the market share, capacity, output, price, latest development plan, merger, and acquisition information of the main manufacturers in the market.

Chapter 4 is the analysis of the whole market industrial chain, including the upstream and downstream of the industry, as well as Porter's five forces analysis.

Chapter 5 introduces the latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 6 provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 7 provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 8 provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.

Chapter 9 introduces the basic situation of the main companies in the market in detail, including product sales revenue, sales volume, price, gross profit margin, market share, product introduction, recent development, etc.

Chapter 10 provides a quantitative analysis of the market size and development potential of each region in the next five years.

Chapter 11 provides a quantitative analysis of the market size and development potential of each market segment (product type and application) in the next five years.

Chapter 12 is the main points and conclusions of the report.