NEW YORK, Dec. 15, 2021 /PRNewswire/ --
Metal Recycling Market Facts at a Glance-
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According to the recent market study by Technavio, the Metal Recycling Market Size in Environmental & Facilities Services Industry is expected to increase by 282.25 million metric tonnes from 2020 to 2025, with an accelerated CAGR of 7.99%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate of 60% among the other regions. China will be the key market for metal recycling. Moreover, market growth in APAC will be faster than the growth of the market in other regions.
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Vendor Insights-
The metal recycling market is fragmented, and Vendors are focusing on the expansion of their distribution network on both, online and offline channels. Companies also leverage social media marketing to build their brand image.
AIM Recycle, Inc. - The company offers customized services that facilitate the processing and recycling of scrap metal.
ArcelorMittal SA - The company offers electric arc furnace which is typically charged with scrap steel.
Nucor Corp. - The company collects scrap for the processing of ferrous and non-ferrous metals.
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Regional Market Outlook
The metal recycling market share growth in APAC will be significant during the forecast period. China is the key market for metal recycling in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
Large investments in infrastructural developments in South-East Asian countries such as Indonesia, Vietnam, and Thailand will drive the demand for metal recycling in these countries. China's ban on scrap imports, coupled with the Chinese government's crackdown on induction furnaces to curb the overproduction of steel, will trigger the increased use of metal recycling in the country. In addition, the fact that Japan was the largest exporter of ferrous scrap in the region is also driving the regional growth.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Drivers & Trends Driving the Market-
The prices of ferrous metals have been showing a steady upward trend. The volume of supply and scrap quality are the key determinants of scrap metal prices. While metals such as steel and aluminum have been imposed with import/export restrictions and tariffs in different countries such as the US, Canada, and China, the base demand-supply correlation is strong for the global metal recycling market primarily due to requirements across key sectors such as healthcare, automotive, and construction. This would continue to drive the growth of the global metal recycling market during the forecast period.
The construction sector traditionally used asbestos in their buildings, plants, and housing structures, owing to its strength and thermal insulation properties. However, asbestos was found to cause serious health hazards to occupants when demolished through the release of asbestos fibers into the atmosphere. Hence, regulatory bodies such as the OSHA monitor the demolition of buildings that contain asbestos. As a result, vendors are looking at innovative methods to purify contaminated steel scrap obtained primarily from the construction sector, in turn, driving the metal recycling market.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Metal Recycling Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of almost 7.99% |
Market growth 2021-2025 |
282.25 million MT |
Market structure |
Fragmented |
YoY growth (%) |
7.58 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 60% |
Key consumer countries |
China, US, Russian Federation, Japan, and South Korea (Republic of Korea) |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
AIM Recycle, Inc., Alter Trading Inc., ArcelorMittal SA, Aurubis AG, Commercial Metals Co., Gerdau SA, Nucor Corp., Schnitzer Steel Industries Inc., Sims Metal Management Ltd., and Tata Steel Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
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Website: www.technavio.com/
SOURCE Technavio
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