Global Recycled Metal Market – Industry Trends and Forecast to 2029

Recycled Metal Market Analysis and Size

Industrial and Government initiative to support sustainable development and to reduce the metal waste is one of the major reason which helps the industry to upsurge the manufacture of recycled metals. According to the Bureau of International Recycling (BIR), there has been rise in recycling of non-ferrous metals by 6% in 2016, while 0.8% of steel across the world. Growing production of recycled metal overall the world and increasing demand from the manufacturing industries with complete properties, provide traction to increase the demand for recycled metals. Increasing demand from industrial and automotive machinery uses in turn is anticipated to increase the demand for recycled metals in the market.

Data Bridge Market Research analyses that the recycled metal market was valued at USD 72.20 billion in 2021 and is expected to reach USD 99.57 billion by 2029, registering a CAGR of 4.10 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.     

Recycled Metal Market Scope and Segmentation

Market Definition

Recycled metal are formed by the use of recycling process. Recycling of metal is the process in which used metal converting to the scrap and then into the final product, which is usable for the manufacturing of new products. The process of recycling helps in decreasing the solid waste which is available in the environment because if the waste is not recycled that will ultimately end up in barren landfills which leads to degradation of the environment and pollution. During the process of recycling, these steps have followed, the collection of waste, sorting out the metal, processing, shredding, and melting, after all of this it is disinfected and then converted into solid metal for manufacturing of applications.

Recycled Metal Market Dynamics

Drivers

• Rise the demand in market due to unique properties of metal

Global recycled metal market are expected to drive by the unique properties of metal. Metals do not lose their strength and usability when recycled this is one of the leading reasons for the growth of the recycled market, and due to this more and more industries starting to use recycled steel, iron, steel and other ferrous metals for several applications like construction, industrial machinery manufacturing, appliance manufacturing, etc. there is a huge demand for recycled metal in the electronic industry.

• Economic growth

Recycling of metal produces 36 times more jobs than delivering the same metal to an incinerator and 6 times more than transfer your metal to a landfill. The recycling industry earn a lot of money yearly for the economy. Not only this, but the products produced by the recycling processes are reused, whether this is going back into the shops, or being used in the  industries all over the place, this is creating a much more economically friendly cycle which are expected to increase the demand of recycled metal in the market.

• Extensive use in several industry

Aluminium and scrap iron metals are being used widely in the construction industry in lot of projects for example, bridges and roads and bridges. Recycled metal are also used in the transportation industry, it can be used in the production of aircraft, automobiles and other transportation. Another recent use of recycled metal is in detoxifying industrial wastewater which may also increase the demand of recycled metal in the market.

Opportunities

• Environmental concern

Due to rising awareness between people regarding decreasing the sustainable development, carbon footprint and preservation of the environment, it has changed the way of companies and used to work earlier now companies have become more eco-friendly and prefer recycled metal over fresh metal. Government policies have been supported the use of recycled metal and several countries are now trying to incline more towards for using more recycled metal. These have become as an opportunity for the global recycled metal market to grow further.

• Rapid urbanization

The major reason for increasing the demand of recycled metal is rapid urbanization which leads to augment the customer and government spending on infrastructure and residential construction and increasing the metal recycling market significantly. The presence of government-enforced rules regulations, are anticipated to driven the market forward and further increase valuable opportunities for the market's growth rate.

Restraints/ Challenges

The collection of waste and scrap material and Inefficiency in the recycling of the process is extremely limiting the growth of the global recycled metal market. Recently, the machinery has become more and more complex which makes it really difficult to recycle and extract metal parts which has also become a restriction factor for the global recycled metal market and will obstruct the market's growth rate.

This recycled metal 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 recycled metal market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Recycled Metal Market

Recycled metal are formed by the recycling process in which involves the recycling of metal to render it reusable without changing its properties. The key factor increasing the market growth is the growing demand for beverage cans. The growing intake of alcoholic beverages such as beer and cider is expected to drive the need for beverage cans which fuels the growth of the recycled metal market. The COVID-19 pandemic has spread worldwide which has impacted the many industries. Government imposed the lockdowns in several countries which has placed restrictions on the opening of hotels, restaurant and liquor shops, which has reduced the use of beverage cans and is thus obstructing the growth of the market. Also, construction industry is the fastest-growing segment in the market during the forecast period.

Global Recycled Metal Market Scope

The recycled metal market is segmented on the basis of metal, scrap type, equipment and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Metal

• Non-Ferrous Metals
• Ferrous Metals
• Precious Metals

Scrap Type

• Old Scrap
• New Scrap

Equipment

• Shredders
•  Shears
•  Granulating Machines
•  Briquetting Machines

Application

• Building and Construction
• Transport
• Industrial Machinery
• Electrical and Electronics
• Defence
• Packaging
• Consumer Goods
• Nuclear
• Military
• Jewellery
• Coins
• Chemical

Recycled Metal Market Regional Analysis/Insights

The recycled metal market is analysed and market size insights and trends are provided by country, metal, scrap type, equipment and application as referenced above.

The countries covered in the recycled metal market report are 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, South Africa, Egypt, Israel, 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.

North America dominates the recycled metal market in terms of revenue and market share during the forecast period. This is due to the increasing demand for recycled metal in this region. North America region leads the recycled metal market, due to the presence of scrap dealers and different recycling facilities in this region.

During the projected period, Asia-Pacific is anticipated to be the fastest developing region due to growing proper waste management and emphasis on ecological concerns in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like 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 Recycled Metal Market Share Analysis

The recycled metal market competitive landscape provides details by competitor. 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 recycle metal market.

Some of the major players operating in the recycled metal market are:

• Sims Limited (US)
• Steel Dynamics Inc (US)
• Triple M Metal LP (Canada)
• Armco Metal Holdings Inc (US)
• Asahi Group Holdings Ltd (Japan)
• Aurubis AG (Germany)
• Kuusakoski (Finland)
• Hensel Recycling Group (Us)
• Befesa (Luxembourg)
• Schnitzer Steel Industries Inc. (US)
• Hawkeswood Metal recycling Ltd (UK)
• Tata Steel (India)
• Sims Lifecycle Services Inc. (US)
• BR Metals (Singapore)
• ELG Gmbh (Germany)
• Novelis  (US)
• European Metal Recycling Ltd (UK)
• Nucor Corporation (US)
• DOWA Holdings CO. LTD (Japan)
• CMC (US)

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