Metal Recycling Market Research Report – Forecast to 2030

Metal Recycling Market, By Metal Type (Ferrous, Non-ferrous), Scrap Metal (Old Scrap, New Scrap), By End-user (Packaging, Shipbuilding, Automotive, Construction, Others) - Forecast till 2030

ID: MRFR/CO/1633-CR | February 2020 | Region: Global | 111 pages

Impact of the COVID-19 outbreak on the Metal Recycling Market

Metal recycling involves the recycling of scrap metal to render it reusable without changing its properties. The key factor boosting the market growth is the increasing demand for beverage cans. The increasing consumption of alcoholic beverages such as cider and beer is driving the need for beverage cans, which, in turn, fuels the growth of the metal recycling market. The COVID-19 pandemic has spread globally and has impacted several industries. The lockdowns imposed by the governments in various countries in Q1 2020 has placed restrictions on the opening of restaurants, hotels, and liquor shops, which has decreased the use of beverage cans and is thus hindering the growth of the market. Besides, construction is the fastest-growing segment in the market. The need to decrease the environmental effects of mining metals has stimulated the use of recycled metals in the construction industry. However, the drastic impact of the COVID-19 pandemic on the construction industry has also affected the metal recycling market. Also, government policies during the outbreak of COVID-19 have significantly altered the global energy demand. The COVID-19 lockdown has led to a decline in global carbon emissions by more than 15% in early April 2020 as compared to April 2019. The decrease in greenhouse gas emissions is expected to hamper the growth of the market over the forecast period.

U.S. Iron and Steel Scrap Exports (2014–2019)

Metal Recycling Market