“In terms of value and volume, the ferrous segment is projected to lead the metal recycling market from 2020 to 2025.”
Based on type, the ferrous segment is projected to be a faster-growing market during the forecast period. Iron and steel scraps are some of the most widely recycled ferrous metals in the world. This scrap comes from end-of-life products and scrap generated through manufacturing processes. The use of scrap in steel production has formed an integral part of the steelmaking industry. According to the Bureau of International Recycling, 40% of steel production is made from scraps.
“In terms of value and volume, the building & construction segment of the metal recycling market is projected to grow at the highest CAGR during the forecast period.”
The building & construction segment is the fastest-growing segment in the metal recycling market. The need to reduce the environmental impact of mining metals has encouraged the use of recycled metals in the building & construction sector. Most recycled metals used in this sector are obtained from demolition waste, which is one of the largest sources of metal waste, especially in the US.
“In terms of both value as well as volume, the Asia Pacific region is expected to account for the largest share in the global metal recycling market during the forecast period.”
Asia Pacific is the fastest-growing market for metal recycling due to its increasing economic growth. It accounted for over a third of the world’s GDP, according to a paper published by World Economics in February 2017.
According to the Population Reference Bureau, the fastest-growing consumer markets of China, India, and other Asia Pacific countries had a combined population exceeding four billion people (as of 2018). This is projected to be an essential driver for global consumption of consumer durables and the building & construction sector over the next two decades; this, in turn, is expected to lead to the growth of the metal recycling market. Other drivers that will have a positive impact on this market are increasing household incomes and the growing middle-class population.
Break-up of Primaries:
- By Department: Sales/Export/Marketing: 54%, Managers: 23%, and CXOs: 23%
- By Designation: Managers: 61%, CXOs: 23%, and Executives: 16%
- By Region: Asia Pacific: 33%, Europe: 27%, North America: 25%, Middle East & Africa: 10%, and South America: 5%
The metal recycling market comprises significant manufacturers such as ArcelorMittal (Luxembourg), Nucor Corporation (US), Commercial Metals Company (US), Sims Metal Management Limited (US), and Aurubis AG (Germany).
The market study covers the metal recycling market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on the type, scrap type, end-use sector, and region. The study also includes in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their positions in the metal recycling market.
Key Benefits of Buying the Report
- The report is projected to help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall metal recycling market and its segments and sub-segments.
- This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
- The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.