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The Worldwide Metal Recycling Industry is Expected to Reach $368.7 Billion by 2030 - ResearchAndMarkets.com

DUBLIN, May 03, 2022--(BUSINESS WIRE)--The "Metal Recycling Market by Metal Type, Scrap Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global metal recycling market size was $217.0 billion in 2020 and is expected to reach $368.7 billion by 2030, registering a CAGR of 5.2% from 2021 to 2030.

Metal recycling refers to reprocessing of metal waste into new metal products to reduce greenhouse gas emission levels, preserve natural resources, and manage energy consumption. The governments in developed regions such as Canada, U.S., and UK and others have taken measures to promote metal recycling industry with good waste collection system, separation and sorting processes. For instance, the government of Canada has been working with the provinces, territories and industries to promote the re-use and recycling of metal products. This is projected to enhance not only the Canadian's recycling industry but also its metal industry.

A rise in urbanization, and industrialization, and increased consumption of commodities along with depletion of natural resources and re-utilizing these resources has created immense scope, which drive the growth of the global metal recycling market. Market players such as Nucor Corporation, Aurubis AG, and others are engaged in acquisition, and product launch as a key developmental strategy to improve the product portfolio of metal recycling products.

However, unorganized flow of waste metals and availability of less scrap collections zones are anticipated to hamper the growth of the market. Conversely, increase in construction of buildings owing to increase in disposal of building waste into the landfills is anticipated to provide lucrative opportunities for the growth of the global metal recycling market.

Key Benefits

  • The report provides an extensive analysis of the current and emerging global metal recycling market trends and dynamics

  • In-depth market analysis is conducted by global metal recycling market estimations for the key market segments between 2020 and 2030

  • Extensive analysis of the global metal recycling market is conducted by following key product positioning and monitoring of the top competitors within the market framework

  • A comprehensive analysis of all the regions is provided to determine the prevailing opportunities

  • The global metal recycling market forecast analysis from 2021 to 2030 is included in the report

  • The key market players within market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global metal recycling market

Market Dynamics

Drivers

  • High Rate of Obsolescence

  • Increase in Energy Savings With Decreased Ghg Levels

  • Accelerating Industrialization and Urbanization in Developing Nations

  • Increasing Consumer Awareness

Restraints

  • Unorganised Flow of Waste Metals

  • Less Scrap Collection Zones

Opportunities

  • Scarcity of Rare Earth Metals

Market Segments

By Metal Type

  • Ferrous Metal

  • Non-Ferrous Metal

By Scrap Type

  • Old Scrap

  • New Scrap

By End User

  • Building & Construction

  • Packaging

  • Automotive

  • Industrial Machinery

  • Electronics & Electrical Equipment

  • Shipbuilding

  • Others

By Region

  • North America

  • US

  • Canada

  • Mexico

  • Europe

  • UK

  • Germany

  • France

  • Spain

  • Italy

  • Rest of Europe

  • Asia-Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Rest of Asia-Pacific

  • LAMEA

  • Latin America

  • Middle East

  • Africa

Key Players

  • ArcelorMittal

  • Nucor Corporation

  • Commercial Metals Company

  • SIMS Metal Management Limited

  • Aurubis AG

  • European Metal Recycling Limited

  • Tata Steel

  • Dowa Holdings Co, Ltd

  • OmniSource Corporation

  • Schnitzer Steel Industries, Inc

For more information about this report visit https://www.researchandmarkets.com/r/kkw6ph

View source version on businesswire.com: https://www.businesswire.com/news/home/20220503005770/en/

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