Global Scrap Metal Recycling Market Analysis by Type, End-User Industry, Scrap Type, Region and segments forecast till 2033
Market Overview
The Global Scrap Metal Recycling Market valued at USD 150,670 million in 2022 is anticipated to reach a value of USD 516,400 million in 2033, rowing at a CAGR of 6%.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 150,670 Million |
Market Forecast in 2033 | USD 516,400 Million |
CAGR % 2023-2033 | 6% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product Size, end-user industry, company share, company heatmap, company Material Type Size capacity, growth factors and more |
Segments Covered | Type, end-user industry, scrap type |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | ArcelorMittal, Aurubis AG, Kuusakoski Oy, Nucor Corporation, AIM Recyclage, Inc., Sims Limited, Omnisource Corporation, Metallon Recycling Pte Ltd, DBW Metals Recycling and TKC Metal Recycling Inc. |
Global Scrap Metal Recycling Market: Description
Recycling metal involves separating, cleaning, and melting of scrap metal that is to be utilised as a new source of raw materials for goods. Metal is a component that can be recycled repeatedly without losing any of its original qualities. Recycling metal has economic advantages in addition to ecological ones. There is always a need for high-quality, sorted scrap metals for recycling since scrap metals have a high monetary value.
The rapidly growing demand for metals, rising consumer awareness of environmental risks, and proactive efforts to conserve energy, which serve as the key drivers accelerating the number of scrap metal recycling facilities globally, are all responsible for the market for recycling scrap metal's quick evolution.
One significant factor driving the expansion of the worldwide scrap metal recycling market is the pressing need to reduce greenhouse gas emissions while maintaining and maximising reliance on natural resources. The worldwide scrap metal recycling industry still confronts significant obstacles due to inadequate machinery and poor performance in the entire output of reusable metal components, particularly iron and steel, despite promising avenues and widespread acceptance.
On the other hand, despite the gaps that still exist, the influence of international cooperation to stop environmental degradation has sparked high-value projects like various action plans that prioritise the circular economy. This would serve as an important catalyst to encourage continued reliance on metal recycling activities and fuel growth of the global metal recycling market.
Due to its potential to help achieve the objective of a fully circular economy, steel is becoming more popular in the scrap metal recycling industry. In order to avoid all unnecessary landfilling of waste, ArcelorMittal S.A., a multinational steel manufacturing company based in Luxembourg, is enhancing steel's advantage of high recyclability. Manufacturers in the scrap metal recycling sector are taking notice of the high cost of producing steel in comparison to the supply of scrap that are accessible.
In the upcoming years, it is anticipated that the market for recycling scrap metal will have less growth. Metals like steel, aluminium, and others must be manually separated from recyclables like paper and plastic. After each cycle of reuse, aluminium has a tendency to deteriorate. As a result, the quality of recycled goods may vary. Therefore, it is projected that this variety in recycled products will have a detrimental influence on the finished product and ultimately have a negative impact on the market for recycling scrap metal's growth prospects.
Global Scrap Metal Recycling Market- Segmental Analysis:
Type Insights
Ferrous hold the largest market share among others, and is projected to grow further in the coming years.
End-User Industry Insights
Building and construction lead the market with the highest market share, and is anticipated to increase more in the coming future years.
Scrap Type Insights
New Scrap metal recycling companies are increasingly using artificial intelligence (AI) to improve the efficiency of their operations. AI can be used to automate sorting processes and identify high-value metals, which can help companies maximize their profits.
Regional Insights
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia Pacific is projected to capture a substantial revenue share. Government rules and regulations that are practical have contributed to this industry expansion. Additionally, the industry may see opportunities due to the rising demand for scrap products.
Competitive Analysis
The prominent companies defining the competitive terrain of this marketplace are ArcelorMittal, Aurubis AG, Kuusakoski Oy, Nucor Corporation, AIM Recyclage, Inc., Sims Limited, Omnisource Corporation, Metallon Recycling Pte Ltd, DBW Metals Recycling and TKC Metal Recycling Inc.
Global Scrap Metal Recycling Market- Segmental Analysis
By Type
· Ferrous- stainless steel, carbon steel, mild steel, cast iron
· Non-ferrous- aluminium, copper, lead, nickel, zinc, brass, tin, gold
· Others
By End-User Industry
· Building and construction
· Automotive
· Equipment manufacturing
· Packaging
· Consumer appliances
· Others
By Scrap Type
· New scrap
· Old scrap
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Scrap Metal Recycling Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both Type Sizeion and consumption point of view at the regional and country level. Key Factors considered within the report scope are Type Sizeion capacity by countries/regions, average End Use, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Scrap Metal Recycling Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Type Sizeion Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Type Size in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Type Size Capacity, Gross Margin
• Company Share Analysis by Card Type Size/Card Type Size
• Company Share Analysis by Type Size/Specification
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• What is the COVID-19 impact on the market and how long will it take to recover?
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