Global Metal Recycling Market

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

Report ID: SQMIG15J2068 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 122 | Figures: 77

Metal Recycling Market News

  • In November 2019, ArcelorMittal invested in new sustainability program in Europe with the aim to secure Responsible Steel site certification for all its ArcelorMittal Europe - Flat Products sites.
  • In May 2019, Nucor Corporation announced a capital investment that will add its 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.
  • In May 2019, Aurubis AG acquired Belgian-Spanish Metallo Group to continue actively pursuing its multi-metal and recycling strategy. The acquisition, with its attractive growth potential, strengthens company’s multi-metal portfolio, especially in the key metals copper, nickel, tin, zinc, and lead.
  • In October 2020, ArcelorMittal and Triple M joined forces to form Integrated Metal Recycling Inc. This joint venture will combine many of the recycling activities of the two partners in Quebec. This venture is projected to improve revenue of the scrap metal recycling business.
  • In May 2020, Aurubis AG acquired the scrap metal recycling company Metal. This acquisition was made to improve its metal scrap production capacity. It is also likely to help Aurubis AG increase its global market reach in the scrap metal recycling segment.
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FAQs

Metal Recycling Market size was valued at USD 46.28 billion in 2019 and is poised to grow from USD 50.03 billion in 2023 to USD 88.5 billion by 2031, growing at a CAGR of 8.12% in the forecast period (2024-2031).

metal recycling market is disorganized and fragmented. Growing environmental concerns, rising end-use industry demand, and rising government regulations are expected to encourage manufacturers to source more raw materials from recycling. Tata Steel announced its intention to open its first recycling plant in the Indian state of Haryana in June 2019. This strategic initiative aims to help the company gain a competitive advantage in the Indian market. 'Nucor Corporation', 'ArcelorMittal', 'Sims Metal Management Ltd.', 'Commercial Metals Company', 'Schnitzer Steel Industries, Inc.', 'Kuusakoski Group Oy', 'European Metal Recycling Ltd.', 'Aurubis AG', 'Novelis Inc.', 'American Iron & Metal Co.', 'Omnisource Corporation', 'Tata Steel Ltd.', 'Ferrous Processing & Trading Co.', 'Dowa Holdings Co., Ltd.', 'HKS Metals BV', 'ELG Haniel GmbH', 'Scrap Metal Services LLC', 'David J. Joseph Company', 'SA Recycling LLC', 'Upstate Shredding – Weitsman Recycling.'

Emerging automotive and construction industries are providing a forward thrust to the demand for metal in manufacturing parts and residential buildings. However, limited availability of earth-metals and high-cost of mining earth is fuelling the scrap recycling market to meet the demand. High demand for recycled metals in all of these industries is due to the fact that metals retain their properties even after multiple recycling. This property raises the demand for recycled metals.

Scrap metal recycling is extensively used in the automotive sector. According to World Auto Steel, steel and iron components make up around 65% of the average vehicle, and hence, scrap metal recycling materials, especially ferrous materials, are highly sought-after in this sector.

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 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 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 crude steel production. China sources roughly 20% of the raw material required for steel making from scrap recycling.

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Global Metal Recycling Market

Report ID: SQMIG15J2068

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