NEW YORK, Oct. 4, 2018 /PRNewswire/ -- Introduction
Scrap metals such as copper, steel, aluminum, brass, and iron can be reused various times to make new products. Recycling of scrap metal reduces the amount of waste produced, preventing the need for additional mining to obtain new metals for manufacturing purposes. After recycling, such scrap metals can be used for a variety of applications in, both homes and manufacturing industries.
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Metal recycling is a foolproof solution for managing metal scraps. The quality or quantity of metals is not altered even after high reuse. The increase in use of metals in end-use industries leads to the depletion of natural metal resources. Metal recycling involves the use of scrap or waste metal resources as raw material and converts them to usable products. Metal scraps are majorly categorized under two categories – ferrous that are made of iron and its compounds; and non ferrous that includes all other recyclable metals other than iron.
The metal recycling process is a cutting-edge technology for reusing metals that have been once used and scrapped. Metal recycling offers environmental benefits regarding energy savings, reduced volumes of waste, and reduced emissions associated with energy savings. Moreover, the process is a solution for managing metal waste, which contributes to around 30% of total solid waste per year. The metal recycling process seeks advantage of the strong government and industrial support to optimize their use and increase their lifespan.
The global metal recycling market is mainly driven by various factors, such as rise in awareness about energy conservation and natural resources, increase in demand for beverage cans, and decreased greenhouse gas emissions. Moreover, industrialization and urbanization in developing nations have created an opportunity for market growth during the forecast period.
For the purpose of study, the market has been segmented on the basis of metal type, scrap metal, end-user and region. On the basis of Metal Type, in 2017, Ferrous held the larger share of the global metal recycling market. On the basis of scrap metal, the market has been segmented as old scrap and new scrap. Old scrap has dominated the market. On the basis of end user, the construction segment has dominated the market during the forecast period.
The global metal recycling market is expected to progress at 8.04% CAGR during the forecast period. In 2017, the market was led by Asia-Pacific, with a 35.6% share, followed by Europe and North America with shares of 29.0% and 19.3%, respectively.
The global metal recycling market consists of players such as, ArcelorMittal S.A. (US), Nucor Corporation (US), Commercial Metals Company (US), Novelis Inc (US), Norton Aluminium Lts. (UK), and Kuusakoski(Finland). European Metal Recylcing (UK), DOWA Holdings Co., Ltd. (Japan), Aurubis (US), Sims Metal Management (Australia), Real Alloy (USA), and Tom Martin & Co Ltd.(UK) are among others.
Objectives of Global Metal Recycling Market Analysis & Forecast, 2018–2022
• To provide a detailed analysis of the market structure along with forecast for the next four years for various segments and sub-segments of the global metal recycling market.
• To provide insights into factors affecting the market growth.
• To analyze the global metal recycling market based on various tools, such as Supply Chain Analysis, and Porter's Five Force Analysis.
• To provide historical and forecast revenue of the market segments and sub-segments concerning regions and their respective key countries.
• To provide country-level analysis of the market concerning the current market size and future prospects.
• To provide country-level analysis of the market for segments by metal type, scrap metal, end user and region.
• To provide strategic profiling of key players in the market, analyzing their core competencies, and drawing a competitive landscape for the market in a comprehensive way.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new technology developments, and research & development in the global metal recycling market
• Research Institute & education institute
• Potential investors
• Key executive (CEO and COO) and strategy growth manager
• The global metal recycling market is estimated to reach USD 434.55 billion by 2023.
• By Metal Type, ferrous segment accounted for the larger share with 59.2% in the global metal recycling market with a market value of USD 1,62,667.4 million in 2017.
• Based on Scrap Metal, old scrap accounted for the market share of 66.8% in 2017, with a market value of USD 1,85,793.5 million.
• Based on End user, construction accounted for the market share of 32.4% in 2017, with a market value of USD 90,037.0 million.
• Geographically, Asia-Pacific has been projected to have the larger market share of 35.6% in the global metal recycling market in 2017.
Regional and Country Analysis of global metal recycling market Estimation and Forecast
Asia-Pacific dominated the metal recycling market due to rapid economic development, increase in population, and various policies, and regulations to support environmental protection, and waste management. Countries such as China and India are the leading international traders of metal scrap. China has been the receiving hub of all sorts of waste from across the world and been regarded as the leader in scrap consumption. With the growing awareness and positive economic health in various Asia Pacific countries, there has been a strong set of framework for waste management which starts from collecting waste till it is disposed. This is expected to drive the metal recycling market in the region during the forecast period.China is the leading market in the region. The region is, thus expected to witness the highest CAGR of 8.29% and retain its leading position during the forecast period.
Europe is the second largest market for the global metal recycling. The European Union waste management policies have helped the countries to reduce the environmental and health impact of waste and improved EU's resource efficiency. The long-term goal of EU union waste management policies is to reduce the amount of waste generated and achieving higher levels of recycling. The European countries such as Germany, the U.K, France, Belgium, and the Netherlands are the leading countries in the export and import of ferrous and non-ferrous scrap. The region is expected to witness moderate growth in the coming years.
The reports also cover country-level analysis:
• Rest of Americas
• Rest of Europe
• Southeast Asia
• Rest of Asia-Pacific
Middle East & Africa
• Middle East
ArcelorMittal S.A. (US), Nucor Corporation (US), Commercial Metals Company (US), Novelis Inc (US), Norton Aluminium Lts. (UK), and Kuusakoski(Finland). European Metal Recylcing (UK), DOWA Holdings Co., Ltd. (Japan), Aurubis (US), Sims Metal Management (Australia), Real Alloy (USA), and Tom Martin & Co Ltd.(UK)
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