Metal Recycling Market Size & Share, by Product (Aluminium, Copper, Iron, Steel); Type (New Metal Recycling, Old Metal Recycling); Industry (Automotive, Construction, Electricals, Manufacturing, Consumer Goods) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3339
  • Published Date: Nov 03, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2036

Metal Recycling Market size is expected to cross USD 143 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of metal recycling was over USD 70 Billion. The market is expected to increase due to the increasing need for metals in various applications and the increasing scarcity of rare earth metals. According to calculations, in the next five years, over 70% of respondents in the automotive sector will see a shortage of metal. Conversely, the chemical and infrastructure sectors will see shortages of roughly 77% and 81%, respectively.

In addition to this, reprocessing of metal waste has been more popular over the past 20 years due to decreased greenhouse gas emissions and efficient energy management, both of which are significant factors anticipated to propel market expansion in the near future. For instance, the net greenhouse gas emissions from human activities increased by 43% between 1990 and 2020. Emissions of carbon dioxide, which account for about three-fourths of all emissions, increased by 51% during that period.


Metal Recycling Market
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Metal Recycling Sector: Growth Drivers and Challenges

Growth Drivers

  • Increase in Urbanization and Industrialization to Boost Market Growth- The market is anticipated to expand as a result of the increase in construction activities occurring in several areas, including Asia-Pacific and Europe. The market for metal recycling is growing in demand due to the rapid economic growth brought about by increased industrialization and urbanisation. Consequently, increased government and consumer spending on housing and infrastructure as a result of growing urbanisation boosts market growth. Furthermore, recycling metals boosts employment in the sector and the national economy. For example, an industry in the US that brings in USD 236 billion a year employs more than a million people.
  • Favourable Government Initiatives- Global government programmes that promote and encourage metal recycling have a big effect on the market as a whole. For instance, by establishing challenging goals and encouraging sustainable production and consumption methods, the circular economy package of the European Union seeks to enhance the recycling and reuse of commodities, including metal. All things considered, government initiatives for recycling metal are vital for encouraging environmentally friendly production and consumption methods, cutting waste and its negative effects on the environment, and propelling the world market for recycled metal.
  • Aggregating Demand from Many End-Use Sectors to Increase the Market for Metal- The global metal recycling market is expanding as a result of end-use industries including manufacturing, construction, and automotive using metal more and more. Because metal is just as good as virgin metal in terms of quality, cost, and environmental impact. The end-use industries are switching from employing virgin metal to recycled metal because of the previously cited reasons. One of the biggest steel companies in the world uses metal in its manufacturing process and has promised to employ 50% more recycled material by 2030.

Challenges

  • Issue of Safety- The problem of safety is one of the main obstacles in commercial metal recycling. Managing substantial quantities of metal may be exceedingly hazardous, therefore it's critical for businesses to implement appropriate safety measures to safeguard both their employees and the environment. Strict safety protocols, such as frequent training and safety audits, are also in place to ensure that staff members are adequately prepared to manage the hazards inherent in this line of work.
  • It is projected that an unorganised flow of waste metals and a dearth of collection zones will impede market expansion.
  • The main obstacle to market expansion is a rise in import duties on steel.

Metal Recycling Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 6%

Base Year Market Size (2023)

 ~ USD 70 Billion

Forecast Year Market Size (2036)

 ~ USD 143 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Metal Recycling Segmentation

Product (Aluminium, Copper, Iron, Steel)

The aluminium segment in the metal recycling market is expected to hold the largest share of about 39% during the forecast period. Recycling aluminium is becoming more popular than recycling other metals since it is less harmful to the environment because it uses less energy and emits fewer greenhouse gases. Reusing aluminium helps lower greenhouse gas emissions since it uses 95% less energy than making new aluminium from raw materials. Additional recycling of aluminium is economical since it uses less energy, which lowers production costs. Furthermore, because aluminium is used in so many different industries, including packaging, transportation, and building, demand for metal is rising. Aluminium recycling makes it possible to satisfy this need without using up natural resources. As a result, there has been a notable increase in aluminium recycling in recent years due to a growing understanding of the advantages of recycling aluminium as well as economic and environmental factors.

Industry (Automotive, Construction, Electricals, Manufacturing, Consumer Goods)

Metal recycling market from the automotive segment is predicted to hold largest share of about 35% share during the forecast period. The market for recycling metal is significantly impacted by the expanding automobile sector. Many raw materials are needed in the manufacturing of modern cars, including metals like copper, aluminium, and steel. Recycling used metal scraps contributes to resource conservation by lowering the need for virgin raw materials. Because recycling waste metal uses less energy than creating new metals from raw materials, it is a cost-effective method. Because of this, the market for metal recycling is driven by the growing usage of recycled metal in the manufacture of automobiles.

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

          Product  

  • Aluminium
  • Copper
  • Iron
  • Steel  

          Type  

  • New Metal Recycling
  • Old Metal Recycling

          Industry

  • Automotive
  • Construction
  • Electricals
  • Manufacturing
  • Consumer Goods

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Metal Recycling Industry - Regional Synopsis

APAC Market Forecast

Metal recycling market in the Asia Pacific region is attributed to hold the largest share of about 32% by the end of 2036. Being one of the world's top manufacturers of steel and aluminum, the area is responsible for the market's expansion. In April 2020, China produced over 85 million metric tons of steel, and in the same month in 2021, that amount rose to about 98 million metric tons. In addition, rising government emphasis on effective waste management and the expanding demand for products are expected to support future market expansion in the region. The National Policy, which the Indian government drafted in 2019, along with the country's increasing steel demand are anticipated to boost ferrous processing domestically, hence boosting the expansion of the APAC market under focus throughout the forecast period.

European Market Statistics

Europe metal recycling market is expected to hold 25% of the revenue share during the forecast period. The growth of the market is due to strict government rules regarding energy use in the region and the growing use of recycled for the production of secondary metals. To cut waste and greenhouse gas emissions, for example, the German government keeps funding recycling and circular economy initiatives. The government started a USD 5 billion investment programme in 2021 to aid in the advancement of new recycling technologies and their transfer. Throughout the projected period, the government's and service providers' actions are probably going to encourage the German market expansion.

Research Nester
Metal Recycling Market Size
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Companies Dominating the Metal Recycling Landscape

top-features-companies
    • 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 Iron & Metal Co., Inc.
    • Schnitzer Steel Industries, Inc.
    • OmniSource Corporation
    • Nucor Corporation
    • Aurubis AG

    Commercial Metal Company


In-the-news

In The News

  • ArcelorMittal today announces plans to roll out a new sustainability programme across Europe, aiming to secure Responsible Steel site certification for all its ArcelorMittal Europe - Flat Products sites. The 12-month programme will enable each site to prove that our production processes meet rigorously defined standards across a broad range of social, environmental and governance criteria.
  • Nucor Corporation announced a capital investment that will add vacuum degassing to its engineered bar capabilities at its bar mill in Darlington, South Carolina. Adding this capability will enable the mill to produce engineered bar products meeting some of the most stringent quality specifications in the industry. The vacuum degassing system is expected to begin operations in late 2020.

Author Credits:  Mohd Shadab, Yashika Karodiwal


  • Report ID: 3339
  • Published Date: Nov 03, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing need of metal and scarcity of rare metals are the major factors driving the growth of the metal recycling market.

The market size of metal recycling is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2024-2036.

The major players in the market are ArcelorMittal S.A., Norsk Hydro ASA, Kimmel Iron & Metal Co., Inc., Schnitzer Steel Industries, Inc., OmniSource Corporation, Nucor Corporation, Aurubis AG, and others.

The aluminum segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Metal Recycling Market Market Report Scope
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