Global Metal Recycling Market, By Type (Ferrous Metal, and Non-Ferrous Metal), Scrap Type (Old Scrap, and New Scrap), Equipment (Shredders, Shears, Granulating Machines, and Briquetting Machines), End-User (Construction, Automotive, Equipment Manufacturing, Shipbuilding, and Others) - Industry Trends and Forecast to 2031.
Metal Recycling Market Analysis and Size
In the automotive sector, the metal recycling market plays a crucial role in sustainable manufacturing practices. Recycled metals, including steel and aluminum, are used extensively in the production of vehicles, contributing to lighter and more fuel-efficient designs. The recycling process helps reduce the demand for virgin metals, conserving natural resources and lowering energy consumption associated with metal extraction and production. Automotive manufacturers rely on recycled metals for components such as engine blocks, chassis, body panels, and wheels, enabling cost-effective and environmentally friendly manufacturing processes.
Global metal recycling market size was valued at USD 273.36 billion in 2023 and is projected to reach USD 505.97 billion by 2031, with a CAGR of 8.00% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable to 2016-2021)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Type (Ferrous Metal, and Non-Ferrous Metal), Scrap Type (Old Scrap, and New Scrap), Equipment (Shredders, Shears, Granulating Machines, and Briquetting Machines), End-User (Construction, Automotive, Equipment Manufacturing, Shipbuilding, and Others)
|
|
Countries Covered
|
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa
|
|
Market Players Covered
|
DOWA HOLDINGS CO., LTD (Japan), Tata Steel (India), Baosteel Co., Ltd. (China), REMONDIS SE & Co. KG (Germany), Novelis Aluminum (U.S.), Norton Aluminium Ltd (U.K.), Kuusakoski (Finland), REAL ALLOY (U.S.), Tom Martin & Company Ltd. (U.K.), TMS International (U.S.), Ferrous Processing & Trading. (U.S.), PSC Metals (U.S.), AMG Resources Corporation (U.S.), Alter Trading Inc. (U.S.), Mervis Industries (U.S.), OmniSource, LLC(U.S.), AMERICAN IRON & METAL (Canada), SUNRISE METAL RECYCLING LTD. (Canada), Upstate Metal Recycling, Inc. (U.S.), Miller Scrap & Disposal (U.S.), GFG Alliance (U.K.), BL Duke (U.S.), Cozzi Recycling (U.S.)
|
|
Market Opportunities
|
|
Market Definition
Metal recycling involves the collection, processing, and reprocessing of various metallic materials, such as steel, aluminum, copper, and others, with the aim of converting them into reusable raw materials for manufacturing new metal products. This process helps conserve natural resources, reduces energy consumption, and minimizes the environmental impact associated with metal extraction and production.
Metal Recycling Market Dynamics
Drivers
- High Environmental Concerns Expand the Demand for Metal Recycling
With increasing awareness of the detrimental impacts of resource depletion, habitat destruction, and pollution, stakeholders are prioritizing sustainable solutions. Metal recycling significantly reduces the need for resource-intensive mining activities, conserving natural habitats and ecosystems. Recycling metals emit fewer greenhouse gases compared to the extraction and refinement of virgin materials, contributing to climate change mitigation efforts. As governments implement stricter environmental regulations and consumers demand eco-friendly products, industries are compelled to embrace metal recycling as a critical strategy for reducing their ecological footprint and fostering a circular economy.
- Growing Technological Advancements Enhances Metal Recycling Efficiency
Innovations in sorting, processing, and refining techniques enable more effective separation of different metal types from mixed waste streams, improving the quality and quantity of recycled materials. Advanced machinery and automation streamline recycling processes, reducing labor costs and increasing throughput rates. Furthermore, developments in metallurgical processes enable the recycling of increasingly complex materials, such as electronic waste and composite metals, further diversifying the sources of recyclable materials and expanding market opportunities. Technological progress empowers the metal recycling industry to meet growing demand sustainably while driving economic growth and environmental conservation.
For instance, the data from the Institute of Scrap and Recycling Industries (ISRI) underscores the significance of technological advancements in the metal recycling sector, enabling the production of "greensteel" in the U.S. As of 2022, more than 70 percent of domestically manufactured steel is derived from recycled material, reflecting the industry's embrace of sustainable practices. This trend demonstrates how innovations in metal recycling technologies have facilitated the transition towards more environmentally friendly production methods within the steel industry.
Opportunities
- High Demand for Metal Recycling due to Increase in Industrialization
As industrial activities expand globally, there is a corresponding rise in the generation of metal waste from manufacturing processes, construction projects, and product end-of-life cycles. This surge in industrial metal waste creates a substantial supply of recyclable materials for the metal recycling industry. Additionally, industrialization drives the demand for metals, leading to higher prices and incentivizing the recycling of scrap metal as a cost-effective alternative to sourcing virgin materials. Industrialization fuels both the supply of and demand for recycled metals, propelling growth in the metal recycling market.
- Surge in Investments Increases Adoption of Metal Recycling
Increased investment flows into the industry support the development and expansion of recycling infrastructure, including advanced technologies and facilities for efficient metal recovery and processing. These investments enable metal recyclers to enhance their capabilities, improve operational efficiencies, and meet growing demand from various sectors. As a result, the metal recycling market experiences sustained growth, driven by the influx of capital and the continuous modernization of the recycling sector.
Restraints/Challenges
- Growing Infrastructure Limitations Hampers the Growth of Metal Recycling
Inadequate recycling infrastructure, including collection networks, sorting facilities, and processing plants, can impede the efficient handling and recycling of scrap metal. This lack of infrastructure may result in logistical challenges, such as inefficient transportation and storage of recyclable materials, leading to increased costs and operational inefficiencies for recycling companies. Insufficient infrastructure may limit the accessibility of recycling services to some geographic regions or communities, hindering overall recycling rates and market growth potential.
- Volatility in Market Prices limits the Growth of Metal Recycling
Fluctuations in global metal prices, driven by factors such as economic conditions, geopolitical tensions, and supply-demand dynamics, can impact the profitability and stability of metal recycling operations. Recycling companies may face challenges in accurately forecasting revenue and managing costs amid unpredictable price movements. Sudden price drops can lead to reduced revenues and margins for recyclers, affecting their ability to invest in technology upgrades and expand operations. This volatility also introduces uncertainty for customers and can dampen their confidence in using recycled metals, potentially slowing market growth.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In October 2022, Schnitzer Steel's acquisition of eight metals recycling facilities from Columbus Recycling underscores the company's commitment to expanding its presence in key Southeastern states, including Mississippi, Tennessee, and Kentucky. This move enhances Schnitzer's capacity to collect, process, and supply ferrous and non-ferrous metal recycling products to meet growing market demand, particularly in the automotive and manufacturing sectors
- In July 2022, Norsk Hydro's USD 15 million investment in its Henderson facility in Kentucky highlights the company's strategic focus on sustainable practices and supply chain resilience in the aluminum sector. By upgrading the facility to produce certified recycled aluminum products, Norsk Hydro aims to cater to the automotive industry's increasing demand for eco-friendly materials, aligning with global trends toward circular economy principles and reducing environmental impact
Metal Recycling Market Scope
The market is segmented on the basis of type, scrap type, equipment and end-user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
Type
- Ferrous Metal
- Non-Ferrous Metal
Scrap Type
- Old Scrap
- New Scrap
Equipment
- Shredders
- Shears
- Granulating Machines
- Briquetting Machines
End-User
- Construction
- Automotive
- Equipment Manufacturing
- Shipbuilding
- Others
Metal Recycling Market Analysis/Insights
The market is analyzed and market size, volume information is provided by type, type, scrap type, equipment and end-user as referenced above.
The countries covered in the market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market primarily due to its significant metal production capacity. Countries such as China, Japan, and India are major contributors to this dominance, boasting extensive industrial sectors and rapid urbanization driving demand for metals. Stringent environmental regulations in the region encourage sustainable practices such as recycling, further boosting the market. The presence of established metal recycling companies and a robust infrastructure for collection, sorting, and processing of scrap metal contribute to APAC's leadership in the global metal recycling industry.
Europe is expected to experience rapid market growth due to the increasing utilization of recycled scrap for secondary metal production. This trend reflects the region's commitment to sustainability and resource efficiency, driven by stringent environmental regulations and a growing emphasis on circular economy principles. As industries across Europe prioritize the use of recycled materials, demand for scrap metal is expected to soar, fostering a robust market environment for metal recycling companies and stimulating economic growth within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Metal Recycling Market Share Analysis
The market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- DOWA HOLDINGS CO., LTD (Japan)
- Tata Steel (India)
- Baosteel Co., Ltd. (China)
- REMONDIS SE & Co. KG (Germany)
- Novelis Aluminum (U.S.)
- Norton Aluminium Ltd (U.K.)
- Kuusakoski (Finland)
- REAL ALLOY (U.S.)
- Tom Martin & Company Ltd. (U.K.)
- TMS International (U.S.)
- Ferrous Processing & Trading. (U.S.)
- PSC Metals (U.S.)
- AMG Resources Corporation (U.S.)
- Alter Trading Inc. (U.S.)
- Mervis Industries (U.S.)
- OmniSource, LLC(U.S.)
- AMERICAN IRON & METAL (Canada)
- SUNRISE METAL RECYCLING LTD. (Canada)
- Upstate Metal Recycling, Inc. (U.S.)
- Miller Scrap & Disposal (U.S.)
- GFG Alliance (U.K.)
- BL Duke (U.S.)
- Cozzi Recycling (U.S.)
SKU-