Metal Recycling Market Overview:
The metal recycling services provides a full insight into the competition, including the market share and company profiles of the key worldwide rivals. The scope of the research covers a thorough investigation of the Metal Recycling Market, as well as the causes for variances in the industry’s growth in different regions.
Estimated Increase in Revenue:
Metal Recycling Market was valued at US$ 55.46 Bn. in 2021 and is expected to reach US$ 103.41 Bn. by 2029, at a CAGR of 8.1 % during a forecast period.
Metal Recycling Market Scope:
Following the completion of market engineering, which comprised market statistics calculations, estimations of market size, market projections, market breakdown, and data triangulation, major primary research was conducted to obtain information and verify and validate critical numbers. Top-down and bottom-up strategies, as well as several data triangulation procedures, were often used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.
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Metal Recycling Market Dynamics:
The fact that metals retain their availability and strength when recycled is the key driver boosting the market for recycled metals worldwide. This is one of the key factors driving the market’s expansion. This has caused an increase in the usage of recycled iron, steel, and other ferrous metals in a variety of industries, including building, the production of home appliances, and the manufacture of industrial machinery. Metals from recycled sources are highly desired by the electronics industry. More and more people are purchasing homes and automobiles as a result of urbanisation, population growth, and rising disposable income, which also raises the need for recycled metals in the construction and auto industries.
Metal Recycling Market Segment Analysis:
According to Application, the construction industry dominated the market in 2021, accounting for more than 46.0% of the total volume. The global building sector has a significant demand for steel and aluminium. The demand for construction metal products is anticipated to increase as a result of increased urbanisation brought on by rising disposable income levels in emerging economies. This will likely advance the recycling sector as a result.
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Major Players:
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
• Nucor Corporation
• ArcelorMittal
• Sims Metal Management Limited
• CMC
• DOWA HOLDINGS Co., Ltd.
• Aurubis AG
• Baosteel Group
• Tata Steel
• TOTALL Metal Recycling, Inc.
Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Metal Recycling market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
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COVID-19 Impact Analysis on Metal Recycling Market:
End-user industries where Metal Recycling are utilised saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Metal Recycling manufacturers, influencing the development of the Metal Recycling market in 2020. End-user business demand for Metal Recycling has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.
Key Questions Answered in the Metal Recycling Market Report are:
- In 2021, which segment held the highest proportion of the Metal Recycling market?
- What is the Metal Recycling market’s competitive landscape?
- What are the primary drivers assisting Metal Recycling market growth?
- Which region has the most market share in the Metal Recycling market?
- What will be the Metal Recycling market’s CAGR throughout the projected period (2022-2029)?
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