The global metal recycling market is anticipated to grow at a significant CAGR of 5.5% during the forecast period. Metal recycling refers to the processing of waste metal into new metal that supports preserving natural resources and protecting the environment. The rising demand for metal among end-user industries and rising urbanization are some factors pushing the growth of the market. In automotive manufacturing, steel is the metal of choice, owing to its low cost, high strength to weight, energy absorption in impact accidents, superior formability, and recyclability. To make a steel alloy stronger, steel is mixed with small volumes of other metals, including vanadium, chromium, tungsten, and manganese. Aluminum is regarded as environmentally friendly. Energy efficiency is an environmental-friendly benefit of aluminum, as the lightweight of aluminum bodies decreases the amount of fuel needed to accelerate vehicles. In addition, the metal is versatile and highly recyclable without sacrificing the vehicle’s performance. Therefore, the rising adoption of metal among end-user industries and the high recyclability of metals is driving the growth of the market. Further, metal recycling is natural conserving and economic friendly and supports bringing down the carbon emission.
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The global metal recycling market is segmented based on the metal type, scrap type, and end-use. Based on the metal type, the market is segmented into ferrous and non-ferrous. Based on the scrap type, the market is segmented into old scrap and new scrap. Based on end-use, the market is segmented into construction, automotive, shipbuilding, equipment manufacturing, consumer appliances, and others.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Metal Recycling Market by Metal Type
- Ferrous
- Non-Ferrous
Global Metal Recycling Market by Scrap Type
- Old Scrap
- New Scrap
Global Metal Recycling Market by End-Use
- Building and Construction
- Automotive
- Ship Building
- Equipment Manufacturing
- Consumer Appliances
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Baosteel Group Corp.
- Commercial Metals Company (CMC)
- European Metal Recycling Ltd.
- Kimmel Scrap Iron & Metal Co., Inc.
- Metallon Recycling Pte Ltd
- Novelis Inc.
- OmniSource, LLC
- Remondis Se & Co. KG
- Schnitzer Steel Industries, Inc.
- Sims Metal Management Ltd.
- Tom Martin & Co. Ltd.
- Wieland Recycling GmbH
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global metal recycling market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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