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Metal Recycling Market Anticipated to Touch USD 434,551 Million and CAGR of 8.4% by 2023

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Metal Recycling Market Overview to 2023:

The global metal recycling market size is anticipated to touch USD 434,551 million by 2023, as per an in-depth report by Market Research Future (MRFR). It is expected to expand at an 8.04% CAGR during the assessment period (2018-2023) owing to pressing demand for energy conservation and awareness regarding depletion of natural resources. Metal recycling involves the utilization of scrap metal to convert it into reusable metal without altering its properties. Scrap parts undergo the stages of sorting, processing, melting, purification, and solidification to be converted into steel. Most frequently recycled metals include stainless steel, iron, lead, zinc, lead, and copper.

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Increasing demand for beverage cans is the primary driver of the market. The role recycling plays in reducing greenhouse gas emissions can augur the market demand over the forecast period. Fluctuation in steel prices can restrain market growth. But the rapid pace of urbanization and industrialization can provide opportunities for the market to thrive.

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  • ArcelorMittal (Luxembourg)
  • Baosteel Group Corporation (China)
  • European Metal Recycling Limited (U.K.)
  • Nucor Corporation (U.S.)
  • Aurubis AG (Germany)
  • Commercial Metals Company (U.S.)
  • Linde Ag (Germany)
  • Tata Steel Limited (India)
  • Sims Metal Management Limited (U.S.)
  • Dowa Holdings Co., Ltd. (Japan)

Report Overview

This report covers current events and trends in the market for metal recycling to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts were able to make highly accurate projections in the report. MRFR’s report includes a thorough segmental analysis of the global The metal recycling market segmented on the basis of metal type, scrap metal, end-user, and region with astute insights. This report has been prepared to assist industry players in making the right decisions which can culminate in fruitful returns. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.

Segment Overview

The metal recycling market provides a comprehensive overview by analyzing its major types, namely ferrous and non-ferrous. The ferrous segment is touted to account for a large market share by 2023 owing to ferrous metals containing huge deposits of iron. They can be used for producing large motors and electrical equipment. By scrap metal, it is segmented into old and new scrap. The old scrap metal segment can be a tremendous source of market revenue owing to its easy availability.

Major end-users include packaging, shipbuilding, construction, automotive, and others. The construction segment can command a large share of the market till the end of the forecast period. The expansion of the construction industry owing to novel developmental projects can act as a catalyst for the market growth. Renovation and remodeling of old homes require a source of steel and the recycling market can cater to this demand.

The segments and sub-segments covered in the report are analyzed under four major regions – North America, Latin America, Europe, The Middle East and Africa (MEA), and Asia Pacific (APAC), with respective country-level market sizing. The standard definition of “metal recycling” is included in the report for a comprehensive understanding of the market. The report discusses and interprets the current trends and future opportunities of the market by delivering an unbiased growth assessment.

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Research Methodology

Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report comprises news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.

Analysis Period

  • Base Year – 2017
  • Projection Period – From 2018 to 2023
  • Market Denomination – USD Million
  • Conversion Rate – Considered as per the respective financial years

Intended Audience

  • Bearing Manufacturers
  • Distributer & Supplier Companies
  • End-users
  • Consultants and Investment bankers
  • Government as well as Independent Regulatory Authorities

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