Growing demand for recycled metals in automotive as well as building and construction sector is driving the market.

NEW YORK, NY, USA, June 24, 2022 /EINPresswire.com/ — The global metal recycling market is expected to reach USD 86.11 billion by 2027, according to a new report from Reports and Data. An increase in energy saving with decreasing levels of greenhouse gas emissions and growing consumer awareness towards it is driving the recycled metal market.

The metal recycling market is growing due to the high demand for steel and the rapid industrialization and urbanization of emerging countries. Additionally, growing concerns about depleting natural resources at a faster rate has led governments across the globe to formulate favorable regulations regarding the metal recycling industry, which further boosts the metal recycling market.

Additionally, there is a depletion of rare earth metals, which provides a growth opportunity for the market. Factors that will restrain the global market are unorganized flow of scrap metal and less scrap collection areas. Rising cost of raw materials is also hampering demand as well as high labor charges.

Impact of COVID-19

The global supply of recycled metals fell during the first half of 2020 due to the COVID-19 coronavirus. Demand plummeted in China, then the rest of the world as the pandemic shut down industries and factories. He also pressed a pause button on consumer spending. The infrastructure sector is not expected to experience growth as a result of the virus. Consumers around the world are facing reduced or lost income.

The market is expected to experience a fairly quick (or V-shaped) recovery from the COVID-19 pandemic. This is possible based on pent-up consumer demand after stay-at-home orders are cancelled. This scenario is not guaranteed as there is an element of recovery involving not only the return of positive household consumer sentiment, but also the ability and willingness of governments around the world to pump money into infrastructure projects and other public works.

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The main participants are Nucor Corporation, Sims Metal Management Limited, Arcelormittal, Aurubis AG, Tata Steel Limited, Dowa Holdings Co Ltd., Commercial Metals Company, Totall Metal Recycling, Inc., Norton Aluminum and American Iron & Metal (AIM), among which others.

Other key findings from the report suggest

• The demand for ferrous materials in metal recycling is growing. Its use in several products is high. For example, in 2018, recycling rates for ferrous scrap in cars were 106%, for household appliances: 90%, for steel cans: 66.8%, for structural steel: 98% and for reinforcing steel: 70%.
• The main end user of recycled metal was the building and construction industry. It held the largest market share of 35.1% in 2019. The increase in ongoing construction activity worldwide over the past few years and growing awareness of sustainable development have encouraged end users of the segment to use more recycled metals.
• Steel demand was sluggish in China in 2018, but it picked up in the rest of the world, mainly due to the strong US economy. Rising consumer spending, along with business confidence, led to strong product demand. This has boosted the demand for recycled metals in the North American region.
• Manufacturers are witnessing an increase in the prices of copper, steel and other raw materials, mainly due to the COVID-19 pandemic. This will make recycled metal more attractive, as the recycling process is much less expensive than mining for ore.

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For the purposes of this report, the reports and data have segmented the global metal recycling market on the basis of type, scrap type, end users and region:

Type Outlook (Revenue, USD Billion; Volume, Kilotons; 2017-2027)

• Ferrous
• Nonferrous

Scrap Metal Type Outlook (Revenue, USD Billion; Volume, Kilotons; 2017-2027)

• Old scrap
• New scrap

End User Outlook (Revenue, USD Billion; Volume, Kilotons; 2017-2027)

• Building and construction
• Automotive
• Packaging
• Manufacture of equipment
• Shipbuilding
• Consumer device
• Others

Market Segmentation by Regions:

North America (USA, Canada)

Europe (UK, Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)

Summary of key points from the report:

Global Metal Recycling Market research report is an investigative study offering key insights into latest growth trends, developments, technological and product advancements, and research and development scenario. The report also covers market aspects that directly influence market growth. These characteristics include the strategies undertaken by the main players, their expansion tactics and the product portfolios of the companies, as well as the micro and macro factors.

The study also analyzes crucial aspects of the market including R&D, product launches and brand promotions, mergers and acquisitions, collaborations, joint ventures, and growth model at regional and global levels. The report offers an in-depth evaluation of factors such as cost, capacity, production and consumption rates, gross revenue, profit margin, demand/supply ratio, import/export, market share, market size and market trends.

The Global Metal Recycling Market includes insightful and verified information regarding the overall market, major players along with their market position and financial status. The report uses advanced analytical tools such as SWOT analysis, Porter’s five forces analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of key players Of the industry.

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To summarize everything stated above, the report offers key insights of Metal Recycling Market to enable the reader to gain comprehensive understanding of global Metal Recycling Market through accurate estimations, panoramic view market scenario, competitive landscape, growth influencing factors. of the market, driving factors, restraints, regulatory framework, growth prospects and opportunities, and factors propelling the market forward. The research study provides an in-depth view of the industry to provide a competitive edge to the reader and help them formulate beneficial investment plans. The report provides a comprehensive market overview with facts related to the past, present and future of the global metal recycling market.

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