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 favorable regulations concerning the metal recycling industry, which is further boosting the metal recycling market.
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Top Companies Profiled in this Report are:
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.
The comprehensive analysis of the Metal Recycling market assists businesses in gaining a competitive advantage and helps them reach their business goals and objectives. The global Metal Recycling market research report is formulated with the descriptive profiles of the leading companies of the market along with their pricing analysis, gross revenue, financial standing, sales network and distribution channel, profit margins, and market position. This offers the readers a complete understanding of the competitive landscape of the Metal Recycling industry.
The Metal Recycling research report draws focus on the strengths and weaknesses of the key players of the market through a comprehensive SWOT analysis and Porter’s Five Forces analysis to project the growth rate.
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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)
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
- Equipment Manufacturing
- Consumer Appliance
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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.
Key Objectives of the Metal Recycling Market Report:
- Analysis and forecast of the Global Metal Recycling Market by segmentation of the market
- Analysis of various macro and micro-economic factors influencing the growth of the Metal Recycling market
- Extensive SWOT analysis and Porter’s Five Forces analysis to offer a detailed view of the competitive landscape
- Insights into drivers, restraints, opportunities, limitations, threats, and challenges
- Analysis of the key players operating in the industry
- Strategic recommendations to the new entrants pertaining to entry-level barriers and to established players for formulating fruitful business plans
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About Reports and Data
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