The global recycled metal market is projected to reach USD 971.69 billion by 2028 at a CAGR of 7.3% during the forecast period. Significant use of the product in the automotive industry and elevated demand in the Asia Pacific region are anticipated to drive the market during the forecast period. Scrap metals are generated by various industries. Hence, these industries act as a source of raw materials used in metal recycling. Scrap metals contain a lot of waste material. The scrap metal can be deformed or corroded. Hence, they are first processed to yield recycled metals. The automotive industry is the single largest source of scrap metal contributing to approximately 50% of scrap metals obtained. Among others are building & constructions, and the electronics industry. Precious metals such as platinum, palladium, gold, and silver are also recycled. The rising awareness about conservation of energy has driven industries to recycle metals, as it helps avoid over exploration and is an energy-efficient process. Hence, owing to these economic and financial benefits, recycling of metals has increased globally.

Global Recycled Metal Market
Global Recycled Metal Market

Steel & aluminum are the most recycled metals. Together, they constitute approximately 58% of the annual recycled metals. Approximately, 40% of steel products produced annually are made from recycled scrap steel. Aluminum is the most recycled non-ferrous metal. Around 630 million tons of aluminum were produced from recycled metals in 2017. Precious metals obtained from recycling contribute approximately 30% to jewelry produced annually. The automotive industry being a major contributor to the generation of scrap material, many companies in the market have their own scrap metal recycling units. In these units, scrap metals is processed and recycled. This recycled metal is then sent to automotive manufacturing units wherein they are reused to optimize their supplier value chain. This helps companies immensely in saving cost and increasing efficiency. In electronics, scrap metals are generated during the process of electroplating, galvanizing, and PCB manufacturing. The scrap metal is then recycled and reused again in the same processes, thereby reducing wastage and increasing organizational efficacy. The shipbuilding industry is also a major contributor to the generation of scrap metal. Scrap metal is extracted from various parts of a ship and recycled. This recycled metal is then utilized across various industries.

Global Recycled Metal Market
Global Recycled Metal Market

The global recycled metal market is highly consolidated in nature. Major companies account for more than 50% of recycled metals produced annually (combined). Major players in the market are investing and forming strategic partnerships to gain a monopoly over the market. For instance, Sims Metal Management acquired Morley Waste Traders, a metal recycler in the UK, which culminated into the ownership of 50 recycling facilities across the country. Such acquisitions contribute immensely in increasing the market share, thereby elevating the position of the company in the market.

Key Factors Impacting Market Growth:

  • Increasing demand in the Asia Pacific automotive industry
  • Increasing awareness about environmental degradation

What Does This Report Provide?

This report provides a detailed understanding of the global recycled metal market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Metal Type:

  • Ferrous Metals
  • Non-Ferrous Metals
    • Aluminum
    • Copper
    • Lead
    • Others
  • Precious Metals

By End User:

  • Building & Construction
  • Automotive
  • Electrical & Electronics
  • Shipbuilding
  • Industrial Machinery
  • Military & Defense
  • Nuclear
  • Chemical
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Metal Type
    • By End User
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Metal Type
    • By End User
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Metal Type
    • By End User
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Metal Type
    • By End User
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Metal Type
    • By End User
  • Rest of the World
    • By Region (South America, Africa)
    • By Metal Type
    • By End User

Companies Covered: Nucor Corporation, Aurubis Ag, Steel Dynamics, Novelis, Commercial Metal Company, Sims Metal Management, European Metal Recycling, ELG Haniel Gmbh, and Schnitzer Steel

Reasons to Buy This Report:

  • Market size estimation of the global recycled metal market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

For more information, contact: sales@quincemarketinsights.com

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