Metal Recycling Market Size was valued at USD 46,284.9 million in 2021. The metal recycling industry is projected to grow from USD 50,033.98 million in 2022 to USD 88,500.70 Million by 2030, exhibiting a compound annual growth rate (CAGR) of 8.12% during the forecast period (2024 - 2030). Increasing awareness regarding the depletion of metal reserves and the stringent regulations imposed by the government regarding metal mining are the key market drivers enhancing market for global metal recycling.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The rise in construction activities across various regions, such as Europe and Asia-Pacific, is expected to fuel the  metal recycling market growth. The rapid economic growth brought on by increased urbanization and industrialization increases demand for the market for metal recycling. Therefore, rapid urbanization leads to higher government and consumer spending on infrastructure and housing, which positively impacts market growth. In addition, recycling metals help the industry create jobs and contribute to the country's economy. For instance, an industry that generates $236 billion in revenue annually in the US employs over a million people.
Further, the laws and regulations implemented by governments and the high acceptance of the method used by manufacturers to obtain raw materials to make finished goods without altering their attributes propel market expansion for metal recycling. For instance, the recycling sector in the United States generates $116.8 billion in economic output for the country.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The surge in concerns about greenhouse gas emissions fueled the metal recycling market CAGR in recent years. For instance, between 1990 and 2020, there was a rise of 43% in the net greenhouse gas emissions from human activity. Over this time, carbon dioxide emissions, which make up nearly three-fourths of all emissions, rose by 51%.
The increase in the construction of buildings owing to the increase in the disposal of building waste into landfills is another factor driving the growth of the metal recycling market revenue. For instance, 30% of all building materials brought to a normal construction site may be wasted. Also, nearly 145 million tonnes of waste were dumped in U.S. landfills in 2018 due to construction and demolition projects.
The metal recycling market segmentation, based on type, includes ferrous and non-ferrous. The ferrous segment held the majority share in 2021 regarding the metal recycling market revenue. It is primarily due to the increasing demand for ferrous metals across various end-use sectors like automotive, electronics, and construction. Iron and steel, in particular, are ferrous metals that can be recycled internally and externally. Remelting, recasting and redrawing defective products and metal cuttings are recycled entirely within the steel mill. The cost of this process is substantially lower than that of creating new metal from the basic ore.
Global metal recycling market segmentation, based on scrap metal, includes old and new scrap. The old scrap segment dominated the market in 2021 due to its low cost and is projected to be the faster-growing segment during the forecast period, 2022-2030. For a manufacturer, recycled old scrap metal is less expensive than newly mined metals from virgin ores. Customers gain from these savings in the competitive market for lower-priced consumer goods since using these more cost-effective raw materials lowers production costs. Prices for consumer goods, including cars, appliances, furniture, and grocery packaging, are reduced due to recycled scrap metal usage. Hence, low-cost old scrap metal positively impacts market growth for metal recycling.
The metal recycling market data has been bifurcated by end-user into packaging, shipbuilding, automotive, and construction. The construction segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Due to the rapid growth of the construction industry and the rising demand for steel in renovation and remodeling projects ly, the construction segment is anticipated to experience the fastest revenue growth rate during the forecast period. The use and consumption of metal products are among the highest ly in the construction sector. The total amount of metal materials that can be taken, including construction supplies, tools, and equipment they ordinarily employ, can undoubtedly fill a sizable empty lot.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific Metal Recycling market accounted for USD 19,856.22 million in 2021 and is expected to exhibit a significant CAGR growth during the study period. It is due to the region's increasing use of metal recycling in the construction and automotive industries, particularly in China, Japan, and India. These industries' growing development is generating high demand for recycling metals. For instance, China released a development strategy for its construction industry in January 2022 for the 14th Five-Year Plan period of 2021–2025. This strategy calls for integrating digital technologies into the building and construction process.
Further, the major countries studied in the market report are: The U.S., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America metal recycling market accounts for the second-largest market share due to the rising demand for metals in the automotive industry and the growing trend to decrease metal waste and carbon footprint across nations, particularly in the U.S. and Canada. About 42% of the crude steel produced in North America is made from recycled materials, demonstrating the crucial role recycling plays in this region. The nation produces a considerable amount of secondary aluminum. Further, the U.S. metal recycling market held the largest market share, and the Canada metal recycling market was the fastest-growing market in the North American region.
The Europe Metal Recycling Market is expected to grow at the fastest CAGR from 2022 to 2030. It is due to the increasing use of recycling metal in the automotive industries of nations throughout this region, particularly in the UK, Germany, and France. The automotive industry extensively used metal to develop car and truck frames, engines, and other parts. As a result, the demand for recycled metal is significantly influenced by the automotive sector. Moreover, the Germany metal recycling market held the largest market share, and the UK metal recycling market was the fastest-growing market in the European region.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the metal recycling market grow even more. Market participants for metal recycling are also taking various strategic initiatives to grow their  footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the metal recycling industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies manufacturers adopt in the metal recycling industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. The metal recycling industry has recently engaged in product development and strategic alliances to expand its product portfolios. The metal recycling market major player such as ARCE AURUBIS AG, REAL ALLOY, ARCELOR Mittal S.A., and others are working on expanding the market demand by investing in research and development activities.
REAL ALLOY dominates the market in producing specified alloys and third-party aluminum recycling. We produce reusable aluminum metal from aluminum scrap and by-products for increasing uses in numerous industries. We use advanced technologies and transportation logistics to ensure that a major amount of our alloys can be transported in this form. Liquid metal offers significant benefits in terms of efficiency and cost. REAL ALLOY is perfectly situated to meet the demands of a society increasingly concerned with recycling. For instance, in July 2021, for the recycling of aluminum scrap and production of wrought and foundry alloys in Germany at its Grevenbroich and Deizisau plants, as well as for central strategic, administrative, and service functions managed by REAL ALLOY Europe Headquarters in Grevenbroich, REAL ALLOY has obtained ASI Chain of Custody (CoC) Standard V1 (2017) Certification. At the same time, the Grevenbroich plant was included in the company's initial Performance Standard Certification scope.
Also, Commercial Metal Company is a steel and metal manufacturer headquartered in Irving, Texas. The company operates four divisions: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. It has offices in the United States, Europe, and Asia. It has 41 scrap metal recycling plants in the US with a combined annual capacity of 4.9 million tonnes, six mini electric arc furnace mills, two micro electric arc furnace mills, two re-rolling mills, and steel fabrication facilities with a combined annual capacity of 2.4 million tonnes. For instance, in 2022, a new $450 million steel recycling facility from Commercial Metal will open in Martinsburg, West Virginia, in 2025. Construction rebar will be produced at the facility utilizing environmentally friendly technology.
October 2022:Â Schnitzer Steel completed its previously announced acquisition of eight metals recycling facilities from Columbus Recycling, a leading provider of ferrous and non-ferrous metal recycling products and services across several Southeast states, including Mississippi, Tennessee, and Kentucky.
July 2022:Â Norsk Hydro, a Norway-based aluminum and renewable energy company, invested USD 15 million in its Henderson facility in Kentucky, U.S., to supply certified recycled aluminum products to the automotive industry.
Ferrous
Non-ferrous
Old Scrap
New Scrap
Packaging
Shipbuilding
Automotive
Construction
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 46,284.9 million |
| Market Size 2022 | USD 50,033.98 million |
| Market Size 2030 | USD 88,500.70Â million |
| Compound Annual Growth Rate (CAGR) | 8.12% (2024-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2024-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Metal Type, Scrap Metal, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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, and Tom Martin & Co. Ltd. |
| Key Market Opportunities | Rising government regulations |
| Key Market Dynamics | Increasing demand for beverage cans Decreased greenhouse gas emissions |
Metal Recycling Market Highlights:
Frequently Asked Questions (FAQ) :
The metal recycling market size was valued at USD 46,284.9 Million in 2021.
The market is projected to grow at a CAGR of 8.12% during the forecast period, 2024-2030.
Asia-Pacific had the largest share in the market for metal recycling
The key players in the market 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, and Tom Martin & Co. Ltd.
Ferrous metal dominated the market in 2021.
The old scrap had the largest share in the market for metal recycling.
Research Analyst Harshita post graduate mba in business administration from welingkar institute, mumbai and 5 years of experience in the field of product market research. as a research analyst, i have cross-domain experience in packaging, and industrial automation & equipment. i am currently looking after the research process of packaging, logistics & transportation, and industrial automation & equipment at market research future reports. my responsibilities at the organization involve handling syndicate and custom reports as well as responding to client inquiries, and organize, co-ordinate with a group of 5 to 6 persons to manage all workflows.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
