Metal Recycling Market size Future Business Opportunities 2023-2030 

0
25

The trend of metal recycling is consolidating across the globe and Market Research Future (MRFR), has recently published a comprehensive report on the global metal recycling market, covering key trends and patterns that are likely to impact the growth of the market over the forecast period of 2023-2030. As per MRFR's analysis, Metal Recycling Market size is projected to be worth USD 88,500.70 Million by 2030, registering a CAGR of 8.12% during the forecast period (2023 - 2030).

 Metal recycling helps to significantly reduce greenhouse emissions and conserve natural resources. It involves reprocessing of used metals to convert them into usable metals. Doing so not only reduces energy consumption but also provides economic advantages as recycling involves lesser cost than procuring metals from virgin ores. The trend of metal recycling is gaining momentum due to augmenting need for energy conservation and mounting awareness regarding the advantages associated with it. Metal recycling typically involves passing used metals through the stages of sorting, melting, processing, purification, and solidification. Stainless steel, copper, zinc, l;ead, iron, and copper are among the most recycled metals.

Various factors can be credited for the growth of the metal recycling market. Surging awareness regarding metal recycling and subsequent actions taken by the governments of multiple countries to reduce environmental degradation are primary factors promoting the market growth. In addition, rapid urbanization and industrialization across the globe has triggered the need for metals at low cost. Escalating consumption of beverage is a notable trend that is likely to support the growth of the market. Surge in the consumption of beverages generates demand for aluminum cans which can augur the growth of the market in the coming years.

 On the other hand, metal recycling is a tedious, labor-intensive, and time-consuming process. Moreover, the lack of proper metal recycling laws in various underdeveloped and developing countries can restrict the growth of the market over the forecast period.

Download Free Sample Report Now — https://www.marketresearchfuture.com/sample_request/2201 

Competitive Landscape

REAL ALLOY, Tom Martin & Co. Ltd., Norton Aluminium Ltd., European Metal Recycling, Commercial Metals Company, ArcelorMittal S.A., Nucor Corporation, Sims Metal Management, Novelis Inc., Aurubis AG, DOWA HOLDINGS Co., Ltd., and Kuusakoski Recycling are the key players in the metal recycling market.

Segmentation

The global metal recycling market has been segmented based on type, scrap metal, and end-user.

By type, the metal recycling market has been segmented into ferrous and non-ferrous. The ferrous segment captured the largest share of 59.2% of the global market in 2017 which was equivalent to USD 164,667.4 Mn. Ferrous metal is widely used in motor and electrical appliances application due to which the segment is having burgeoning growth. The segment is also anticipated to capture a higher CAGR of 8.26% over the forecast period.

By scrap type, the metal recycling market has been segmented into old scrap and new scrap. The old scrap segment captured the largest share of 66.8% of the global market in 2017, which was equivalent to USD 185,793.5 Mn. The segment is likely to expand at a CAGR of 8.43% over the forecast period.

By end-user, the Metal Recycling Market Data Insight has been segmented into construction, shipbuilding, packaging, automotive, and others. In 2017, the construction segment accounted for the largest share of 32.4% of the global market and garnered a valuation of USD 90,037 Mn. The construction segment is expected to register a CAGR of 8.27% over the forecast period.

Regional Analysis

Region-wise, the metal recycling market has been segmented into the Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).

APAC holds the foremost position in the global metal recycling market. In 2017, the market captured 35.6% share of the global market. The region is observing fast-track industrialization and economic growth, which is paving the way for the growth of the metal recycling market. Moreover, various policies aimed at curbing environmental pollution supports metal recycling activities. China, Indonesia, and India are the key contributors to the APAC market with China leading the pack. In 2017, China garnered a valuation of USD 45,209.7 Mn. Japan is the leading consumer of aluminum scrap.

Europe captured the second position in the global metal recycling market with a 29% share in 2017. The UK, Germany, the Netherlands, France, and Belgium are the top importers and exporters of non-ferrous and ferrous scrap. The European Union (EU) has laid down stringent waste management policies to curb environmental pollution, which also encourage the growth of the market.

The Americas account for 19% share of the market and is anticipated to exhibit noteworthy growth in the coming years. Increasing awareness regarding the use of recycled metals across various end use industries is boosting the growth of the market.

Industry Updates

August 2019 - Ward, a Derbyshire-based metal recycling company, invested £500,000 in material handling equipment to expand its metal processing capacity at its Immingham site.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

 MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

 Contact:

Market Research Future

Office No. 524/528, Amanora Chambers

Magarpatta Road, Hadapsar

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email: sales@marketresearchfuture.com

Site içinde arama yapın
Kategoriler
Read More
Other
Methionine Market Insights, Growth and Investment Feasibility Till 2030
Methionine Market Overview: The global Methionine market is expected to increase the USD 7.26...
By Rahul Miller 2023-03-08 09:00:45 0 24
Other
Call Girls in Mount Abu Escorts Service 24×7 Safe For SEX
Call Girls in Mount Abu Escorts Service 24×7 Safe For SEX mount abu escortsMount Abu, in...
By Geet1998 Kumar 2022-10-29 05:40:22 0 41
Other
Cosmetics Market Trends, Segments, Report Overview, Comprehensive Analysis and Forecast 2030
Cosmetics Market Overview Cosmetics Market Size was valued at USD 0.3 billion in 2022. The...
By Jaaza Lee 2023-05-29 12:04:00 0 70
Other
Student Housing Market Report 2023 | Industry Size, Share, Growth, Trends
Student Housing Market Size provides in-depth analysis on the market status of Student Housing...
By Bri Report 2023-03-01 10:55:42 0 33
Networking
Haus bewerten
ONLINE-BEWERTUNG Sie wünschen eine schnelle Erstbewertung Ihres Hauses?...
By Office Webmaster354 2023-04-19 09:44:05 0 50