Metal Recycling Market Size to Boost US$327.6 billion By 2027 | CAGR 5.1% – IndustryARC

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Increasing Construction Industry Demand Growth of the Metal Recycling Market

HYDERABAD, TELANGANA, INDIA, December 12, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that The Metal Recycling Market size is estimated to grow at a CAGR of 5.1% during the forecast period 2022-2027 and reach US$327.6 billion by 2027. Metal Recycling can be done over and over again without the metal changing its properties. Some of the major metal that is extensively recycled include aluminum, steel, silver, copper, brass, gold and others. There are over a thousand metal recyclers in the market under various trade associations such as ISRI (Institute of Scrap Recycling Industries Inc), BMRA (British Metals Recycling Association), Australian Metal Recycling Industry Association, Canadian Associations of Recycling Industries and others. The recovery of precious metals including platinum, palladium, gold and other valuable metals such as lead, silver and copper from electronic waste provides the end users with an economical approach. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Metal Recycling Market highlights the following areas –

1. The ferrous metal segment in Metal Recycling Market held a significant share in 2021. In 2020, over 30% of crude steel produced worldwide was made using recycled materials and in the U.S. over 65% of recycled materials are used to produce crude steel.

2. Asia-Pacific dominated the Metal Recycling Market in 2021, owing to its increasing demand from the construction sector of the region. For instance, according to Volvo CE, the construction sector saw an increase in construction activities, in the fourth quarter of 2020, mainly in Asia by 39% and China by 28%.

3. Iron and steel are the most recycled materials, globally, as it provides the opportunity to recover huge structures and are easier of reprocessing compared to other materials. Thus, this is expected to create a major opportunity for the end users of the Metal Recycling Industry to procure larger quantities at cheaper rates.

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Segmental Analysis:

1. The Ferrous metal segment held a significant Metal Recycling Market share of over 60% in 2021, owing to its high usage across various major industries such as construction, automotive and shipbuilding. Carbon steel, alloy steel, cast iron and wrought iron are some of the major ferrous metals that are recycled.

2. Asia-Pacific held a dominant Metal Recycling Market share of over 40% in the year 2021. The consumption of Metal Recycling particularly in the construction industry is increasing the demand for recyclable metals in the region. For instance, according to Invest India, around 115 future construction projects are planned in India by 2023.

3. The construction segment held the largest Metal Recycling Market share of over 35% in 2021, owing to the increasing construction activities and investment across the globe. For instance, in 2021, the construction of two mixed-use towers including commercial towers began in Australia.

Competitive Landscape:

The top 5 players in the Metal Recycling Industry are –

1. Nucor Corporation

2. ArcelorMittal S.A.

3. Commercial Metals Company

4. Aurubis AG

5. China Baowu Steel Group Corp., Ltd.

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Related Reports:

A. Global Copper Scrap Market

B. Global Precious Metal Refining Market

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