Metal Recycling Market Regional Analysis:
APAC Market Insights
Metal recycling market in the Asia Pacific region is attributed to hold largest share of about 32% by the end of 2035. Being one of the world's top manufacturers of steel and aluminum, the region is responsible for the market 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 will fuel the market revenue. 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.
European Market Insights
Europe metal recycling market is expected to hold 25% of the revenue share during the forecast period. The market growth 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.
