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Scrap Metal Recycling Market Segmentation by Product (Aluminum, Copper, Iron, and Steel); and by Industry (Automotive, Construction, Electricals, Manufacturing, Consumer Goods, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Scrap Metal Recycling Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • October 2020: ArcelorMittal and the Australian company Triple M joined hands to form Integrated Metal Recycling Inc. The aim of this joint venture is to combine the recycling activities of both the companies for their units in Quebec.

Global Scrap Metal Recycling Market Highlights 2022 – 2030

The global scrap metal recycling market is estimated to garner a hefty amount of revenue and grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing demand for metals for several applications, rapid urbanization and industrialization in developing countries, and rising scarcity of rare earth metals. It is calculated that more than 70 percent of respondents in the automotive industry will face metal scarcity in the next five years. Whereas, infrastructure and chemical industries will face a shortage of almost 81 percent and 77 percent respectively.  Along with these, reprocessing of metal waste is gaining traction since the last two decades as a result of reduction in greenhouse gas emission levels and effective management of energy consumption, which is a crucial factor expected to drive market growth in the near future. Furthermore, accelerating emphasis of governments in developed nations to promote improved waste collection, sorting and separation processes, is also projected to provide lucrative opportunities for market growth in the forthcoming years.

Scrap Metal Recycling Market

The market is segmented by product into aluminum, copper, iron and steel, out of which, the steel segment is anticipated to hold the largest share in the global scrap metal recycling market on account of high utilization of steel in automotive, construction and consumer goods industries across the world. Additionally, on the basis of industry, the construction segment is predicted to gather the largest share over the forecast period on the back of large-scale demand for aluminum and steel from this industry and increasing infrastructural activities worldwide. According to the World Steel association, the total steel demand in the world will grow by 5.8% in 2021. The steel use in the construction sector grew by 9.1% in the year 2020. Apart from this, the automotive segment is also assessed to occupy a significant amount of share owing to the large use of steel for automobile components, including fuel tanks, mufflers, vehicle frames and hoods, and the cost-effectiveness of utilizing recycled metal. CLICK TO DOWNLOAD SAMPLE REPORT

Global Scrap Metal Recycling Market Regional Synopsis

On the basis of geographical analysis, the global scrap metal recycling market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Asia Pacific is estimated to acquire the largest share over the forecast period on the back of the fact that the region is one of the largest producers of aluminum and steel in the world. The total steel production in China in April 2020 was more than 85 million metric tons, which increased up to almost 98 million metric tons in the same month in 2021. In addition, growing demand for scrap products and increasing focus of governments for proper waste management is also projected to boost the region’s market growth in the future. Moreover, Europe is also expected to grab a notable share in the market during the forecast period, which can be credited to the rising usage of recycled scrap for producing secondary metal and stringent government regulations regarding energy use in the region.

Scrap Metal Recycling Market

The global scrap metal recycling market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global scrap metal recycling market includes the following segments:

By Product

  • Aluminum
  • Copper
  • Iron
  • Steel

By Industry

  • Automotive
  • Construction
  • Electricals
  • Manufacturing
  • Consumer Goods
  • Others

Growth Drivers

  • Increasing Demand for Metals Across the Globe
  • Rising Need to Reduce Greenhouse Emissions Worldwide

Challenges

  • Unorganized Flow of Waste Metals
  • Lesser Number of Scrap Collection Zones

Top Featured Companies Dominating the Market

  • SIMS Metal Management Limited
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • SUEZ SA
  • ArcelorMittal S.A.
  • Norsk Hydro ASA
  • Kimmel Scrap Iron & Metal Co., Inc.
  • Schnitzer Steel Industries, Inc.
  • Dowa Holdings Co., Ltd.
  • Schnitzer Steel Industries, Inc.
  • OmniSource Corporation
  • Nucor Corporation

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