The global demand for Metal Recycling Market is presumed to reach the market size of nearly USD 512.93 MN by 2028 from USD 336.65 MN in 2021 with a CAGR of 6.2% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Million Tons in 2021 and forecast to touch XX Million Tons by 2028 with a CAGR of XX% during 2022-2028.
Metal recycling is the practice of gathering old metal waste and converting it into useable items. Metals are versatile materials used to make everyday objects for centuries. Steel, aluminium, and copper are among the most often used metals. Since metals are not a renewable resource, metal recycling has emerged as a particularly effective technique of collecting metal from current things as they reach the end of their lifecycles and recycling it into new products.
Market Dynamics
The growing automotive and construction sectors are propelling metals demand in manufacturing parts and residential buildings forward. The scarcity of earth-metals and the high cost of mining earth are driving the metal recycling business to satisfy demand. Rising urbanization because of increasing disposable income levels in emerging nations is expected to contribute to the expansion of the construction sector, fueling demand for construction metal goods. This, in turn, is likely to propel the metal recycling sector forward. Similarly, rising worries about greenhouse gas emissions and decreasing urban air quality are driving up demand for metal recycling. However, the disorganized flow of waste metals and a lack of scrap collecting zones are expected to limit market expansion.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of metal recycling. The growth and trends of Metal Recycling Industry provide a holistic approach to this study.
Market Segmentation
This section of the metal recycling market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product
- Steel
- Aluminum
- Copper
- Others
By Application
- Construction
- Automotive
- Consumer Goods
- Industrial Goods
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Metal Recycling market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Metal Recycling Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the metal recycling market include European Metal Recycling, CMC, GFG Alliance, Norsk Hydro ASA, Kimmel Scrap Iron & Metal Co., Inc., Schnitzer Steel Industries, Inc., Novelis, Tata Steel. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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