Global metal recycling industry expected to reach $368.7 billion by 2030 – ResearchAndMarkets.com

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DUBLIN–(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 from ResearchAndMarkets.com offer.

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

Metal recycling refers to the reprocessing of scrap metal into new metal products to reduce greenhouse gas emission levels, conserve natural resources and manage energy consumption. Governments in developed regions such as Canada, United States and United Kingdom and others have taken measures to promote the metal recycling industry with good waste collection system, separation processes and of sorting. For example, the Government of Canada works with provinces, territories and industries to promote the reuse and recycling of metal products. This should improve not only the Canadian recycling industry, but also its metal industry.

An increase in urbanization and industrialization along with increased consumption of raw materials along with depletion of natural resources and reuse of these resources has created immense scope, which is driving the growth of the global recycling market metals. Market players such as Nucor Corporation, Aurubis AG and others are engaged in product acquisition and launch as a key development strategy to enhance the metal recycling product portfolio.

However, the unorganized flow of scrap metal and the availability of less scrap collection areas are expected to hamper the market growth. Conversely, increase in building construction owing to increase in construction waste disposal in landfills is expected to provide lucrative opportunities for the growth of the global metal recycling market.

Key Benefits

  • The report provides an in-depth analysis of current and emerging global metal recycling market trends and dynamics.

  • In-depth market analysis is carried out by estimates of the global metal recycling market for key market segments between 2020 and 2030

  • An in-depth analysis of the global Metal Recycling market is performed by tracking key product positioning and monitoring major competitors within the scope of the market

  • Comprehensive analysis of all regions is provided to determine prevailing opportunities

  • Global Metal Recycling Market forecast analysis from 2021 to 2030 is included in the report

  • Leading market players within the market are profiled in this report and their strategies are thoroughly analyzed which helps in understanding the competitive outlook of the global Metal Recycling market.

Market dynamics

Drivers

  • High rate of obsolescence

  • Increased energy savings with decreased GHG levels

  • Accelerating industrialization and urbanization in developing countries

  • Increase consumer awareness

Constraints

  • Unorganized stream of scrap metal

  • Fewer scrap collection areas

Opportunities

  • Rarity of rare earth metals

Market segments

By type of metal

  • ferrous metal

  • non-ferrous metal

By type of scrap

Per end user

  • Building construction

  • Packaging

  • Automotive

  • Industrial machinery

  • Electronics and electrical equipment

  • shipbuilding

  • Others

By region

  • North America

  • WE

  • Canada

  • Mexico

  • Europe

  • UK

  • Germany

  • France

  • Spain

  • Italy

  • The 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

  • Metal trading company

  • SIMS Metals Management Limited

  • Aurubis S.A.

  • European Metal Recycling Limited

  • Tata Steel

  • Dowa Holdings Co, Ltd

  • OmniSource Company

  • Schnitzer Steel Industries, Inc.

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

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