Overview and Scope
Recycled metal is obtained by melting down the used or scrap metal to create a new metal. The practice of reclaiming and processing scrap metal from buildings or products so that it can be used as a raw material to create new products is known as metal recycling.
Sizing and Forecast
The recycled metal market size has grown strongly in recent years. It will grow from $69.28 billion in 2023 to $73 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to material specifications, evolving consumer preferences, market acceptance, infrastructure development, scrap availability, demand from end-use industries..
The recycled metal market size is expected to see strong growth in the next few years. It will grow to $92.18 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to green manufacturing practices, supply chain transparency, investments in waste management, resource scarcity concerns, corporate sustainability commitments.. Major trends in the forecast period include circular economy promotion, government regulations, resource scarcity concerns, green building practices, economic viability..
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/recycled-metal-global-market-report
Segmentation & Regional Insights
The recycled metal market covered in this report is segmented –
1) By Product: Steel, Aluminum, Copper, Other Products
2) By Metal: Ferrous, Non-Ferrous, Precious Metals
3) By End-User: Construction, Transport And Automotive, Industrial Machinery, Electronics, Defense, Packaging, Military, Consumer Goods, Other End-Users
Asia-Pacific was the largest region in the recycled metal market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the recycled metal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8502&type=smp
Major Driver Impacting Market Growth
The growing demand in the construction sector is expected to propel the recycled metal market. The construction sector comprises manufacturing and commerce concerned with creating, maintaining, and fixing structures and drilling and mineral exploration. Construction activities have been on the rise due to rapid industrialization and urbanization. These construction activities create a huge demand for recycled metals, as they are economical and sustainable. For instance, in 2022, according to the U.S. Construction Cost Trends report, there is an increase in residential construction in the country, which will continue to increase demand for labor and materials, intensifying competitiveness and cost pressures. Since the pandemic’s start, building spending nationwide has climbed by 16% in the U.S. Moreover, according to a report released in June 2021 by Canada’s national statistical agency, investments in building development climbed to $19.3 billion in 2020. Therefore, the increase in construction activities will drive the recycled metal market.
Key Industry Players
Major companies operating in the recycled metal market report are ArcelorMittal S.A., Nucor Corporation, Commercial Metals Company, Sims Metal Management Limited, Aurubis AG, Novelis Inc., ELG Haniel Group, Kuusakoski Group Oy, Tata Steel Ltd., Steel Dynamics Inc., Norsk Hydro ASA, GFG Alliances, China Baowu Group, HKS Scrap Metals B.V., AMG Resources Corporation, European Metal Recycling, Schnitzer Steel Industries Inc., OmniSource Corporation, Alter Trading Corporation, Ferrous Processing & Trading Co., Metal Management Inc., Tube City IMS LLC, SA Recycling LLC, Upstate Shredding LLC, PSC Metals Inc., American Iron & Metal Company, Southern Recycling LLC, Gerdau S.A., Dowa Holdings Co. Ltd., Liberty Steel Group, Sims Limited
The recycled metal market report table of contents includes:
1. Executive Summary
2. Recycled Metal Market Characteristics
3. Recycled Metal Market Trends And Strategies
4. Recycled Metal Market – Macro Economic Scenario
5. Global Recycled Metal Market Size and Growth
…..
32. Global Recycled Metal Market Competitive Benchmarking
33. Global Recycled Metal Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Recycled Metal Market
35. Recycled Metal Market Future Outlook and Potential Analysis
36. Appendix
Explore the trending research reports from TBRC:
https://www.thebusinessresearchcompany.com/report/forged-and-stamped-goods-global-market-report
https://www.thebusinessresearchcompany.com/report/mineral-global-market-report
https://www.thebusinessresearchcompany.com/report/forging-and-stamping-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
