Metal Recycling Market Revenue, Growth Factors, Trends, Key Companies, Forecast to 2027
The global Metal
Recycling market is forecast to reach USD 86.11 Billion by 2027,
according to a new report by Reports and Data. An increase in energy savings
with decreased greenhouse gas emission levels and increasing consumer awareness
regarding it are driving the market for recycled metal.
The metal recycling market is growing due to the high demand
for steel and rapid industrialization and urbanization in emerging nations.
Moreover, increased concerns towards the exhaustion of natural resources at a
faster rate have led governments across the globe to formulate favourable
regulations concerning the metal recycling industry, which is further boosting
the metal recycling market.
Furthermore, there is a growing scarcity of rare-earth
metals, which provides a growth opportunity for the market. Factors that will
restrict the global market are the unorganized flow of waste metals and less
scrap collection zones. The increasing cost of raw materials is also hindering
the demand along with high labour charges.
Impact of COVID-19
The global supply of the recycled metals fell down during the
first half of the year 2020 due to the COVID-19 coronavirus. The demand
plummeted in China, and then the rest of the world as the pandemic led to industries
and factories shutting down. It also hit a pause button on consumer spending.
The infrastructure sector is not expected to witness any growth in the wake of
the virus. The consumer’s all around the world are faced with reduced or lost
income.
The market is expected to have a fairly rapid recovery (or
V-shaped) after the COVID-19 pandemic. This is possible based on pent-up
consumer demand after stay-at-home orders are rescinded. That scenario is not
guaranteed as there is an element of recovery involving not only the return of
positive household consumer sentiment but also the ability and willingness of
governments around the world to inject money into infrastructure and other
public works projects.
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Key participants include Nucor
Corporation, Sims Metal Management Limited, Arcelormittal, Aurubis AG, Tata
Steel Limited, Dowa Holdings Co Ltd., Commercial Metals Company, Totall Metal
Recycling, Inc., Norton Aluminium, and American Iron & Metal (AIM), among
others.
Further key findings from the report suggest
- The
demand for ferrous material in metal recycling is growing. The usage of it
in several products are high. For instance, in the year 2018, the
recycling rates for ferrous scrap in cars was 106%, for appliances: 90%,
for steel cans: 66.8%, for structural steel: 98%, and for reinforcement
steel: 70%.
- The
dominant end user of the recycled metal was the building and construction
industry. It held the largest market share of 35.1% in the year 2019. The
increased ongoing construction activity all across the globe in the past
few years and growing conscious of sustainable development has encouraged
the segment's end users to use more recycled metals.
- The
demand for steel was slow in China in the year 2018, but it witnessed a
rise in the rest of the world, mainly due to the United States strong
economy. Increased consumer spending, as well as business confidence, has
led to a solid product demand. This boosted the demand for recycled metals
in the North American region.
- Manufacturers
are witnessing an increase in price for copper, steel, and other raw materials,
mainly due to the COVID-19 pandemic. This is going to make the recycled
metal more appealing as the process of recycling is far less expensive
than mining for ore.
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For the purpose of this report, Reports and Data have
segmented into the global Metal Recycling market on the basis of type, scrap
type, end users, and region:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons;
2017-2027)
- Ferrous
- Non-Ferrous
Scrap Type Outlook (Revenue, USD Billion; Volume, Kilo Tons;
2017-2027)
- Old
Scrap
- New
Scrap
End Users Outlook (Revenue, USD Billion; Volume, Kilo Tons;
2017-2027)
- Building
and Construction
- Automotive
- Packaging
- Equipment
Manufacturing
- Shipbuilding
- Consumer
Appliance
- Others
Market Segmentation by Regions:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia,
Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin
America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of
MEA)
Key Point Summary of the Report:
The
global Metal Recycling market research report is an investigative study
offering key insights into the latest growth trends, developments,
technological and product advancements, and the research and development
scenario. The report also covers the market aspects that directly influence the
growth of the market. These features include strategies undertaken by the
prominent players, their expansion tactics, and the product portfolios of the
companies, and micro and macro-economic factors.
The
study also analyses the crucial market aspects, including R&D, product
launches and brand promotions, mergers and acquisitions, collaborations, joint
ventures, and the growth pattern on both regional and global levels. The report
offers an in-depth evaluation of factors such as cost, capacity, rates of production
and consumption, gross revenue, profit margin, demand and supply ratio,
import/export, market share, market size, and market trends.
The
Global Metal Recycling Market includes relevant and verified information
relating to the overall market, key players, and their market position and
financial standing. The report utilizes advanced analytical tools such as SWOT
analysis, Porter’s Five Forces Analysis, investment return analysis, and
feasibility analysis to offer a comprehensive view of the market position of
the major players of the industry.
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To
summarize everything stated above, the report offers key insights into the Metal
Recycling market to allow the reader to gain a complete understanding of the
Global Metal Recycling Market through accurate estimations, a panoramic view of
the market scenario, competitive landscape, factors influencing the growth of
the market, driving factors, restraints, regulatory framework, growth prospects
and opportunities, and factors propelling the market forward. The research
study offers an in-depth view of the industry to offer a competitive edge to
the reader and help them in formulating beneficial investment plans. The report
provides a comprehensive overview of the market with facts relating to the
past, present, and future of the Global Metal Recycling Market.
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customization options, please reach out to us, and we will offer you the report
best suited for your needs.
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