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

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).

The process in which waste metal is reprocess into new metal product is referred as metal recycling. In metal recycling new metal product reduce greenhouse gas emission levels, preserve natural resources, and mange energy consumption. The governments in developed regions such as Canada, U.S, UK, and others have taken measures to promote metal recycling industry with good waste collection system, separation and sorting processes. For instance, the government of Canada has been working with the provinces, territories and industries to promote the re-use and recycling of metal products.

Metal recycling is one of the industrially and environmentally important process. It involves recycling of the scrap metals to use it again. The metal recycling market encompasses a broad range of metals but most frequently recycled metals are stainless steel, copper, iron, lead, aluminium, and zinc. These are primarily categorized on the basis of ferrous content. Increasing usage of metals in various end-use industries is expected to drive the market growth.

Rise in urbanization and industrialization and increased consumption of commodities along with depletion of natural resources and re-utilizing these resources has created immense scope, which drive growth of the global metal recycling market.

US Metal Recycling Market  is poised to grow at a sustainable CAGR for the next forecast year.