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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

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Metal Recycling Market Overview


The metal recycling market could anticipate growth from USD 54.1 billion in 2019 to around USD 88.5 billion by 2027-end. Capturing an 8.1% CAGR between 2022 and 2030, MRFR anticipates the market to perform exceedingly well as industrialization and urbanization rates continue to surge in emerging countries.


Metal recycling involves the reprocessing of scrap metal into critical products. This process helps bring down emission of greenhouse gases, handle energy consumption, and also conserve natural resources. Metal recycling takes waste metal, processes it, and develops a new material. The recycled metal is then used to create products like ropes, poles, and bars. Metals have various uses in different industry verticals including packaging, building & construction, industrial machinery, shipbuilding, and automotive. The surge in the number of construction activities across regions like Asia-Pacific and Europe will propel the metal recycling industry position in the future.


Post the COVID-19 outbreak, given the stringent government policies, the demand for energy has fallen significantly in view of supply chain disruptions. This has brought down the metal demand along with its production. Moreover, considering the massive impact on the automobile sector, metals like zinc, aluminum and copper are experiencing a slight drop in their demand, which has had a negative impact on the worldwide market.


On the bright side, the escalation in urbanization and industrialization rates in emerging countries bolsters the demand for metal recycling. Fast-paced industrialization and urbanization lead to higher consumer and government spending in infrastructure and residential construction, which will have a favorable impact on the metal recycling market.


Covid-19 Analysis


The coronavirus pandemic has given a very tough time to most of the manufacturing, developing, production, and logistic units of the market. The policy of social distancing and lockdowns have resulted in restricting the opening of hotels restaurants, liquor shops, etc. This in turn has decreased the use of beverage cans that had impacted the recycling of metal market growth. The fastest-growing sector among all industries is the construction sector and using recycled metals in the construction sector has been appreciated for reducing the effect of the environment on mining metals. The drastic impact on the construction has also given some hard time to the recycling of the metal industry.


 Due to strict policies of the government, the energy demand has been altered across the world which led to supply chain disruptions and in turn has led to a decrease in metal demand as well as in production. Also, with a huge impact on the automobile industry, the demand for metals such as copper, zinc, and aluminum has decreased, which has impacted the market growth. But there is a ray of hope that as soon as those restrictions are lifted, a sharp rebound is expected to be seen in the global Metal Recycling Market.


Competitive Landscape


To get a detailed and profound idea about the market insights, it is very important to create a competitive environment amongst the different key players at different market locations all around the globe. The key players are trying to expand their manufacturing facilities all over the globe with the help and support of government policies. The prime players of the market industry are: -



  • ARCE AURUBIS AG

  • REAL ALLOY,

  • ARCELOR Mittal S.A.

  • LOR Mittal S.A,

  • Nucor Corporation,

  • Commercial Metal Company,

  • NOVELIS Inc.,

  • Norton Aluminium Ltd.,

  • KUUSAKOSI,

  • European Metal Recycling,

  • DOWA Holdings Co. Ltd.,

  • Sims Metal Management,

  • Tom Martin & Co. Ltd.


Recent Developments



  • March 2022


AMCS, a renowned technology provider for the recycling, resource management, and waste industry, has launched AMCS Platform Spring 2022 release. AMCS Platform for Metal Recycling is a cloud-based new generation solution created by reputed scrap recyclers for automating every aspect of their operations from compliance, scales, sales, contract management, pricing, supplier portal, transport, inventory valuation, hauler portal, brokerage, production, to finances and outbound logistics.


  • March 2022


With the aim to foster the use of scrap steel to bring down carbon emissions right from when it is manufactured, ArcelorMittal will be acquiring John Lawrie Metals, a recycling company. Enhancing the utilization of scrap steel in both blast furnace and electric arc furnace processes within steelmaking is a major component of ArcelorMittal’s decarbonization strategy.

Market dynamics


Drivers


The manufacturing of new metal is a dynamic and complex process, especially for the construction industry and companies. To increase their rampant revenue the companies have adopted this method of turning old metal scraps into new metals that can be reused efficiently and also to cope up with the global demand for metals. Recycling metal waste is a better alternative to landfills which is majorly responsible for the degradation of the environment. This method is an eco-friendly method for producing metal with less cost and energy use to boost their businesses. For instance use of lead reduces up to 98% of carbon dioxide emission. Day by day rising need for steel, industrialization, and urbanization are the additional factors that are driving the recycling of metal market growth. The increasing focus to reduce greenhouse emissions and conservation of natural resources will give a hike to the metal recycling market during the forecast period.


Restraints


There are two types of metals that are ferrous and non-ferrous. Ferrous metals like iron and zinc are very difficult to extract from the metal waste. So most of the time recycling the ferrous metal proves to be an ineffective process which in turn is a major factor hindering the metal recycling mental growth. The ineffectiveness of recycling ferrous metal is due to two reasons either poor machinery or the recycling process used for attaining the ferrous metal scrap from waste generated is incompetent. Another factor that contributes to restraining the market growth is that the metal has to undergo the recycling process again and again and after some time a point comes where that metal losses its ability to be used again. The rare earth element can be recovered only in minute quantities from the waste produced and the rising overtire of this REE will soon lead to a situation of its zero availability which will pose a great threat to construction and automobile industries.


Technology Analysis


The government of different countries is encouraging their domestic manufacturers to get their raw materials to form the recycling waste by making various regulations in that concern. As the price of steel is fluctuating and in short increasing at regular intervals and its association with the metal recycling process may pose a major challenge in front of recycling market growth. So the key players in the market are looking for different alternatives to steel. Aluminum recycling requires about 5% of energy only and produces only 2% of greenhouse emissions. Copper can also be considered. Recycling of copper avoids near about 84% of energy wastage which in turn reduces 66% of the release of carbon dioxide released into the atmosphere.


Study Objectives



  • To take up the viewpoint of various industry experts and leaders into consideration and predict compound annual growth rate and market growth rate by the end of the global forecast in 2023.

  • To bring out a competitive market outlook and examine the yield models of key market players, worldwide.

  • To observe the various market dynamics like trends, drivers, and opportunities that are most probable to play a role in helping the market and its different segments growing in the domestic as well as international market.


Segment Overview


The metal recycling market share is anticipated to witness significant growth owing to the performance of different market segments. Among all segments, the old scrap segment will be the fastest-growing segment during the forecast period. Also, the ferrous and construction segment will lead the market towards massive growth by an average CAGR of 8.27%. For an amplifying use the market is segmented into the following on different bases:



  • Based on metal type, it has ferrous and non-ferrous.

  • Based on scrap type, it has old scrap and new scrap.

  • Based on end-user type, it has an automobile, construction, packaging, shipbuilding, and others.


Regional Analysis


The metal recycling market industry movements are remarkably working in 5 major regions of the world Europe, Asia Pacific, Africa, North America, and the Middle East. Asia Pacific region will hold the largest market share during the forecast period due to increasing economic development and population, rising labor force. Also in developing economies like India and China, the rising infrastructure and automobile industry will be responsible for substantial market growth. North America will be the second-largest market. The reason for it is recycled technology advancements. The increasing awareness about the recycling concept and most of the public and private sector companies are aiming at providing environmental services and coping up with the government’s policy of sustainable environment are also lead to tremendous market growth.


Report Overview


Recycling metal is a process of collecting old fragments of metal and converting them into new and useful products. The metal recycling industry is rapidly increasing because of rising industrialization in developing economies like China and India and the increasing demand for metals. About 1.7 billion people are involved in the recycling sector and those are handling more than 700 million tons of recyclable goods annually. The earth’s crust is made up of metals and those all are at the edge of exhaustion. To cover up the loss of metals, most of the industries are recycling the metals to renew them with less use of energy and cover up the massive money spending on new metal production.


The construction industry is the most profitable in terms of making use of the recycling of metal techniques.


The metal recycling market report presents a shift analysis that includes market drivers, opportunities, and restraints that are available in the global market. The report discusses the impact of covid-19 on the key players of the industry. The report also tells about the segmentation of the market on a different basis and how a competitive environment is developed among the key players around the globe. At last, the report presents some recent developments in the field.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2027: USD 88.5 billion
  • 2030 : Significant value
  •   CAGR   8.1% CAGR (2022Β toΒ 2030)
      Base Year   2021
      Forecast Period   2022Β toΒ 2030
      Historical Data   2019Β &Β 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Metal Type, Scrap Metal, By End-user
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Aurubis AG, Commercial Metals Company, Norton Aluminium Ltd., REAL ALLOY, ArcelorMittal S.A., DOWA HOLDINGS Co., Ltd., Kuusakoski Recycling, Sims Metal Management, Tom Martin & Co. Ltd., Nucor Corporation, and European Metal Recycling, Novelis Inc.
      Key Market Opportunities   Rising government regulations
      Key Market Drivers

  • Increasing industrialization
  • Urbanization


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    Frequently Asked Questions (FAQ) :

    Metal Recycling market is predicted to grow at 8.1% through forecast period of 2020-2027.

    The forecast period for Metal Recycling market research report is 2020-2027.

    Global Metal Recycling market is dominated by APAC region.

    Global Metal Recycling Market: Competitive Landscape


    The global metal recycling market is characterized by the presence of many global, regional, and local players. The market is highly competitive with all the players competing to gain market share. Intense competition, and increasing demand for recycled products are key factors that confront market growth. The vendors compete based on cost, product quality, and reliability. It is crucial for the vendors to provide cost-efficient and high-quality recycled material, to survive and succeed in an intensely competitive market environment.


    ArcelorMittal S.A. is a multinational company that leads in the global steel manufacturing market. The company has its business in three major segments, which include mining, steel, and research & development. ArcelorMittal was created upon the merger of Arcelor and Mittal Steel. The company caters its steel to numerous end-use industries, such as construction, automotive, energy, transportation, packaging, and domestic appliances. ArcelorMittal has a presence throughout the mining value chain, including exploration, production, mining, collection, pulverizing, transportation, and port operations. The company has 14 operating units with mines in operation and development for iron ore and coal. The company strategizes to work with local communities in nations to build social infrastructure, ensuring long-term development projects. ArcelorMittal aims to create opportunities for sustainable regional development that will sustain the company’s mining activity. The company focuses on recycling the metals, and thus, imports scrap to convert it into useful products. The company also has plans to manage the risks to increasing the sustainability and achieving long-term commercial success.


    Nucor Corporation is a leading steel manufacturer and steel recycler. The company has a wide portfolio of products in various categories, including carbon steel, fasteners, alloy steel, steel products, raw materials, and SDS products. The company recycles various raw materials, including iron ore, nonferrous metals, and steel. Nucor Corporation acquired David J. Joseph Company, which is an experienced scrap trading, recycling, and logistics company. The subsidiary operates in four business segments, including brokerage, recycling, transportation, and scrap management. The company’s long-term strategy for business development and profits earning is focused at reducing production costs and achieving leading positions in every product in the complete product portfolio.


    Commercial Metals Company (CMC) is a major player in the manufacture of steel and metal products. The company manufactures, recycles, and markets steel and metal products. The company operates through four business segments, which are mills, recycling, and fabrication and construction products. CMC, annually, processes and ships more than 4 million tonnes of ferrous and non-ferrous scrap. The company buys, sells, and manages scrap, throughout the U.S. and rest of the world. The mill products offered by the company include carbon bars, spooled rebar, and cryosteel. The company uses recycled scrap as raw material for the manufacture of steel. The company employs state-of-the-art, scrap-based electric arc furnace in the steel manufacturing process. Under the recycling segment, CMC owns more than 30 scrap metal processing plants, concentrated, largely in Texas, Florida, and the southern United States. Commercial Metal Company concentrates on its core manufacturing capabilities to improve the quality of operations. In 2017, the company planned to exit international markets. Thus, it focuses on U.S., wherein it generates most of the revenue.


    Novelis Inc. is the largest producer of flat-rolled aluminum products and recycler of the aluminum, in the world. The company supplies premium aluminum sheet and foil products to transportation, packaging, construction, industrial, and consumer electronics sectors throughout North America, Europe, Asia, and South America. For end-use markets, aluminum rolled products are manufactured with the help of a variety of alloy mixtures to meet specific hardness, thickness, and width. Besides, the aluminum sheets are coated and finished with various coatings. The company is a wholly owned subsidiary of Hindalco Ltd., which is a company under Aditya Birla Group. Novelis is prepared and positioned to overcome the challenges arising from can-stock market overcapacity and customer consolidation through continued favourable mix shift as automotive shipments increase further operational efficiencies and metal cost management.


    Norton Aluminium is a pioneering company that specializes in the manufacture of aluminum alloys. The company has its business operations in three main categories, including alloy manufacturing, aluminum sand castings, and aluminum scrap purchasing. The company manufactures aluminum alloys including primary, secondary, and master alloys. Norton Aluminium is also engaged in aluminum scrap purchase, trading, and recycling. Norton Aluminium explores the opportunities in the rising aerospace industry, which requires various categories of metals for making aircraft and planes. Additionally, the company manufactures alloys made of aluminum sand castings for the military, aerospace, high-end engineering, and off-highway sectors, thus expanding its customer base. Its sister company Norse Precision Casting focuses on the manufacture of precision and highly decorative aluminum sand castings and polyurethane moldings. This helps the company expand its product portfolio meanwhile focusing on the customer requirements to improve the customer relations.