Metal Recycling Market Size, Share, Growth Analysis, By Metal Type(Ferrous metal, non-ferrous metal), By Scrap Metal(Aluminum, Brass, Carbide, Copper), By Equipment(Briquetting Machines, Shears, Shredders, Balers), By End user(Construction, Automotive, Shipbuilding, Equipment manufacturing), By Region - Industry Forecast 2024-2031

Asia pacific is fastest growing market for metal recycling due to its increasing economic growth. Increasing demand for metal from emerging nations like India and China is expected to boost the regional market growth. Asia Pacific accounted for major share of scrap global metal recycling market in 2021. Increasing demand for scrap products coupled with easy government rules and regulation are major factor expected to boost the growth of the global metal recycling market. According to World Steel, China is the largest producer of steel and it produced 996.3 Mn tons in 2019 and accounted for roughly 53% of the global crude steel production. China sources roughly 20% of the raw material required for steel making from scrap recycling.

Europe is the second largest global metal recycling market as a result of high consumer adoption rate. Largest consumer demand from automotive, building, and construction industries is observed in developed countries including Germany, UK, France and other. Europe is expected to show substantial growth attributed to the presence of large metal recycling company. Europe is expected to be the fastest growing market during the forecast period because of the rise in the usage of recycled scrap for secondary metal production in the region.

North America is expected to show considerable growth due to the stringent rules imposed by government authorities to stop illegal and exploitation of mines and metal reserves. Latin America exhibit moderate growth due to increasing mining activities. Middle East and Africa exhibit sluggish growth by the end of 2028.