Metal Recycling Market Analysis, Share, Size, Emerging Trend and Region – Foreca

Posted by Market Research Future on June 6th, 2019

Metal Recycling Market Research Report.

Market Research Future (MRFR) experts have prepared an in-depth analysis report that the global metal recycling market is bound to touch a size worth USD 434,551 million at a healthy CAGR of 8.04% during the forecast period (2018-2023). Metal recycling involves reprocessing of metal waste into reusable metal. This process reduces greenhouse gas emission levels, preserves natural resources, and also manages energy consumption. On account of these advantages, many governments across the globe are taking measures to promote metal recycling, which triggers the market growth.

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Factors driving the market expansion include presence of scrap vehicles, growth in energy savings with reduced greenhouse gas emission levels, elevating industrialization and urbanization in developing economies, and growing consumer awareness. Moreover, the infrastructure development and construction related activities in developing economies have led to massive demand for metal recycling. Another factor positively influencing the market size is the growing demand in numerous end-use sectors such as metal fabrication, electronics, medical & healthcare equipment, and automotive which take active part in the recovery of metal from scrap. The global metal recycling market observes colossal growth due to presence of market players playing a vital role in generating high revenue for the market. Increasing number of research and development activities, partnerships, and collaborations by leading manufacturers attracts more customers.

However time-consuming nature of the metal recycling process can cause hindrance to the market growth. On the other hand, the global market for metal recycling shows immense promise as there has been an increased awareness regarding the importance of resource efficiency and waste management. This will certainly lead to more applications in several industries across the globe.

Metal Recycling – Segmental AnalysisThe metal recycling market has been segmented on the basis of metal type, scrap type, end-user, and region.

The metal type is sub-segmented into ferrous and non-ferrous. The ferrous segment held the largest market share of 59.2% in 2017, accruing value of USD 164,667.4 million. It is expected to grow at the highest CAGR of 8.26% during the forecast period. The growth can be attributed to the growing recycling rate and the high scrap consumption across the globe.

Regional OutlookGlobal Metal Recycling, by region, has been segmented on the basis of Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

Among all regions, Asia Pacific currently holds the top position in terms of market size globally and will maintain its position in the coming years. The region observes rapid economic development, burgeoning population, and several policies and regulations that support environmental conservation. Moreover, increasing labor force also underpins the market growth in the region. Emerging economies such as China, India, and Indonesia contribute massively to the regional market and propel the market growth in Asia Pacific.

The region of Americas is also taking noteworthy strides in the global market due to advancements in recycling technology and growing awareness regarding recycling. Moreover, the market has expanded on account of increasing focus among private sector companies and public sectors to offer environmental services, mainly aimed at efficient and sustainable utilization of natural resources. The region also enjoys immense government support with regard to policies and initiatives regarding environment benefits of recycling metals.

Metal Recycling Market – Competitive Dashboard Some of the key players profiled in the report are European Metal Recycling, DOWA HOLDINGS Co., Ltd., Aurubis, Sims Metal Management, ArcelorMittal S.A., Nucor Corporation, Commercial Metals Company, Novelis Inc., Norton Aluminium Ltd., Kuusakoski Recycling REAL ALLOY, Tom Martin & Co Ltd, and others.