(MENAFN- GetNews) Market Research Future (MRFR) experts have prepared an in-depth analysis report that the global metal recycling market is bound to touch a size worth USD 434,551 million at a healthy CAGR of 8.04% during the forecast period (2018-2023).
Metal Recycling Market Overview to 2023:
Market Research Future (MRFR) experts have prepared an in-depth analysis report that the global metal recycling market is bound to touch a size worth USD 434,551 million at a healthy CAGR of 8.04% during the forecast period (2018-2023). Metal recycling involves reprocessing of metal waste into reusable metal. This process reduces greenhouse gas emission levels, preserves natural resources, and also manages energy consumption. On account of these advantages, many governments across the globe are taking measures to promote metal recycling, which triggers the market growth.
Factors driving the market expansion include presence of scrap vehicles, growth in energy savings with reduced greenhouse gas emission levels, elevating industrialization and urbanization in developing economies, and growing consumer awareness. Moreover, the infrastructure development and construction related activities in developing economies have led to massive demand for metal recycling. Another factor positively influencing the market size is the growing demand in numerous end-use sectors such as metal fabrication, electronics, medical & healthcare equipment, and automotive which take active part in the recovery of metal from scrap. The global metal recycling market observes colossal growth due to presence of market players playing a vital role in generating high revenue for the market. Increasing number of research and development activities, partnerships, and collaborations by leading manufacturers attracts more customers.
However time-consuming nature of the metal recycling process can cause hindrance to the market growth. On the other hand, the global market for metal recycling shows immense promise as there has been an increased awareness regarding the importance of resource efficiency and waste management. This will certainly lead to more applications in several industries across the globe.
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Metal Recycling Segmental Analysis
The metal recycling market has been segmented on the basis of metal type, scrap type, end-user, and region.
The metal type is sub-segmented into ferrous and non-ferrous. The ferrous segment held the largest market share of 59.2% in 2017, accruing value of USD 164,667.4 million. It is expected to grow at the highest CAGR of 8.26% during the forecast period. The growth can be attributed to the growing recycling rate and the high scrap consumption across the globe.
Based on scrap type, the market is segmented on the basis of old scrap and new scrap. The old scrap segment held the largest market share of 66.8% in 2017, garnering USD 185,793.5 million and will expand further noting the highest CAGR of 8.43% during the forecast period.
The various end-users in the market are packaging, construction, shipbuilding, automotive, and others. Among all end-users, construction segment held the largest market share of 32.4% in 2017, amassing revenue worth USD 90,037.0 million. It will continue to enjoy a good run at a CAGR of 8.27% during the forecast period. Increased government funding, rapid urbanization, and growing population can propel segment growth, in turn, shaping the global metal recycling market positively.
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ü ArcelorMittal (Luxembourg)
ü Baosteel Group Corporation (China)
ü European Metal Recycling Limited (U.K.)
ü Nucor Corporation (U.S.)
ü Aurubis AG (Germany)
ü Commercial Metals Company (U.S.)
ü Linde Ag (Germany)
ü Tata Steel Limited (India)
ü Sims Metal Management Limited (U.S.)
ü Dowa Holdings Co., Ltd. (Japan)
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Research Methodology
Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report comprises news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.
Analysis Period
- Base Year - 2017
- Projection Period - From 2018 to 2023
- Market Denomination - USD Million
- Conversion Rate - Considered as per the respective financial years
For the scope of research, the report offers a comprehensive analysis of the global metal recycling market.
Metal Type
Scrap Metal
End-user
- Packaging
- Shipbuilding
- Automotive
- Construction
- Others
Region
- Americas; the U.S., Canada, and Rest of Americas
- Europe; Italy, Germany, the U.K., France, and Rest of Europe
- Asia Pacific; India, Japan, China, and Rest of Asia Pacific
- The Middle East and Africa
Intended Audience
- Bearing Manufacturers
- Distributer & Supplier Companies
- End-users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
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