The global metal recycling market size was $300.12 billion as of 2018. Following the current trend of sustainable and imperishable future, the metal recycling market is estimated to grow at a compound annual growth rate (CAGR) of 7.50% through the forecast period of 2019 to 2025.
— Metals are essential for the global economy as they find applications across numerous industries including equipment manufacturing, buildings, and automotive industry. Furthermore, the employment of metals is also prevalent in the production of mobile phones, computers, and other electronic equipment. Using recycled raw materials cuts down carbon dioxide emissions in significant amounts. According to the market research report from IndustryARC, the global metal recycling market size was $300.12 billion as of 2018. Following the current trend of sustainable and imperishable future, the metal recycling market is estimated to grow at a compound annual growth rate (CAGR) of 7.50% through the forecast period of 2019 to 2025.
The report is titled “Metal Recycling Market: By Type (Ferrous metals and non-ferrous metals); By End User Industry (Construction, Industrial and others); & Geography Forecast (2019-2025).” This report incorporates in-depth assessment of trends, product benchmarking, growth drivers, financial overview, business strategies, and recent developments and so on to gauge the impact forces in the global metal recycling market. The report covers Metal Recycling Market size by type and applications, Metal Recycling Market share by top 5 companies and also the market share by start-ups during the forecast period.
Global Metal Recycling Market: Leading Segments
As per the analysts, APAC is the leading region in the global metal recycling market. High rate adoption of metal recycling practices and exuberant applications of recycled metals in the construction, automotive, and electronics industry are stroking the metal recycling market landscape. The region grabs 35% of the total metal recycling market demand share. Rising awareness towards the benefits of recycled products is inducing the metal recycling market growth in the region.
The construction industry is the fastest growing application in the metal recycling market. Metals in the construction industry are considered as the raw material which provides the skeleton to an infrastructure. The construction industry is thriving to cater to the constantly increasing population that needs assistance in accommodation. As per the freshly compiled report from IndustryARC, construction industry in the metal recycling market is growing at a CAGR of 8% through the aforementioned forecast period.
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Global Metal Recycling Market Analysis
Waste Management: Chinese Nonferrous Metals Industry Association Recycling Metal Branch (CMRA ) is a firm from China which has achieved excellence in recycling metals. It has an organized structure for metal recycling, proper segregation of metals such as ferrous, non-ferrous, old scrap, and new scrap is performed before the execution of the recycling process. Such an initiative has proved to tremendously improve the scrap management system of the country.
Automotive: The recycled metals are profoundly being employed for the manufacturing and repair works of the marine fleet and shipbuilding all across the globe. The company Sims Metal Management is one of the leading publicly listed metal recycler. All kinds of ferrous and non-ferrous metals are reprocessed by the firm. The company generated more than $6448 million sales revenue in the fiscal year 2018 with 10.3% underlying return on the invested capital. Furthermore, the company generated 395,000-megawatt hours of renewable energy form metal recycling only.
Global Metal Recycling Market Trends
Recycled metals are used for the production of packaging utensils implied in the food and beverages industry. Beverage cans are one of the most popular recycled metal products used as a packaging for popular drinks which has achieved feasibility all across the nation.
Stringing laws pertaining to the recycling and waste management in both the developing and developed nations are being enforced by the government. More recycled metals means reduced wastage, reduced consumption of virgin ores and reduced carbon emission reflects the metal manufacturing industry. Regularizing metal recycling in countries will contribute to the sustainable future, further glorifying the global metal recycling market.
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Global Metal Recycling Market: Competitive Landscape
Some of the key players mentioned in the report that are currently leading the metal recycling market are Arcelor Mittal S.A, Nucor Corporation, Commercial Metal company, Novelis Inc, Norton Aluminium Ltd, Kuusakoski, European Metal Recycling, DOWA Holdings Co. Ltd., Sims Metal Management, Tom Martin & Co. Ltd.
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