Metal Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Metal Recycling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global metal recycling market size reached US$ 232.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 304.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.60% during 2022-2028.

Metal recycling refers to the process of recovering and processing scrap metal from end-of-life structures or manufacturing products. It is economical and offers a low carbon footprint and efficient utilization of resources with no degradation of properties. As a result, recycled metals find extensive applications as a raw material in the production of new goods in various industry verticals. Presently, ongoing improvements in recycling technologies and collection systems are encouraging the manufacturing of complex products using a diverse range of metals and alloys.

Metal Recycling Market Trends:
A considerable rise in the use of metals in the manufacturing of trucks, cars, ships, airplanes, railways, consumer electronics, and domestic items represents one of the major factors driving the demand for metal recycling across the globe. Metal recycling does not emit harmful gases and assists in reducing production costs. Apart from this, the escalating demand for precious metals on account of changing lifestyles and inflating disposable incomes of individuals is contributing to market growth. Furthermore, due to rising environmental concerns, companies of several end use industries are investing in recycling precious metals that can further be used for manufacturing heart pacemakers, artificial cochlea, and other medical devices. Moreover, key market players are offering highly specialized insurance solutions and risk management services to meet the unique needs of recyclers. Besides this, governing agencies of numerous countries, along with private organizations, are adopting innovative ways to raise public awareness about the significance of recycling and putting waste into the appropriate recycling bins. Additionally, they are developing modern recycling technologies that can identify different types of metals effectively. This is projected to create a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global metal recycling market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on metal type, type and end use industry.

Breakup by Metal Type:

Steel
Aluminum
Copper
Others

Breakup by Type:

Ferrous Metal
Non-Ferrous Metal

Breakup by End Use Industry:

Building and Construction
Packaging
Automotive
Industrial Machinery
Electronics and Electrical Equipment
Shipbuilding
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ArcelorMittal, Aurubis AG, Commercial Metals Company, Dowa Holdings Co. Ltd., European Metal Recycling Ltd (Ausurus Group Ltd), Nucor Corporation, OmniSource LLC (Steel Dynamics Inc.), Schnitzer Steel Industries Inc., Sims Limited and Tata Steel Limited.

Key Questions Answered in This Report:
How has the global metal recycling market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global metal recycling market?
What are the key regional markets?
What is the breakup of the market based on the metal type?
What is the breakup of the market based on the type?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global metal recycling market and who are the key players?
What is the degree of competition in the industry?