Introduction
Metal recycling refers to reprocessing of metal waste into valuable to reduce greenhouse gas emission levels, preserve natural resources, and manage energy consumption.
The growing focus on conservation of natural resources and re-utilizing these resources has created immense scope for metal recycling market growth. On the other hand, unorganized flow of waste metals and less scrap collection zones is anticipated to restrict the market.
Despite the current pandemic situation, there was a large contraction in demand owing to the slowdown of prominent end-use industries, such as construction and automotive. But, the manufacturers are recovering their operations in full capacities from 2021 beginning is expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6. Five Force analysis
7. Market Sizing
8. Market segmentation
9. Geographical Landscape
9.1 APAC
9.2 Europe
9.3 North America
9.4 ROW
10. Growth drivers
10.1 Awareness programs for sustainable waste management practices
10.2 Increasing urbanization and industrialization
11. Key Market Trends
12. Impact of Covid-19
13. Challenges
14. Customer Insights analysis
15. Major Market Players
15.1 European Metal recycling
15.2 CMC
15.3 GFG Alliance
15.4 Norsk Hydro ASA
15.5 Kimmel Scrap Iron & Metal
15.6 Schnitzer Steel Industries
15.7 OmniSource Corporation
15.8 Schnitzer Steel Industries
15.9 Tube City
15.10 PSC Metals
16. Recent Developments
17. Future Scope
18. Strategic Recommendations
Market Overview
Global metal recycling is expected to grow to $80.00 billion by 2025
Growth momentum is expected to accelerate during the forecast period with an 8.02% CAGR.
The increasing demand for steel and the urbanization & industrialization in developing countries are driving the market growth.
APAC region has dominated the market due to its increasing economic growth.
Key Trends
Metal recovery from slag residue is likely to provide opportunities for market growth.
Increasing awareness about the effective use of natural resources is also expected to drive the demand.
Key Market Players
Some of the key players in the market are European Metal recycling, CMC, GFG Alliance, Norsk Hydro ASA, Kimmel Scrap Iron & Metal, Schnitzer Steel Industries.
Growing environmental concerns, increasing demand for the product from end-use industries, and rising government regulations are expected to encourage manufacturers to source their raw materials from recycling at a higher rate.
Growth Drivers and Challenges
Laws and regulations enforced by governments are a major driver for the freight forwarding market.
Awareness programs for sustainable waste management practices are another key factor driving the market.
Increasing urbanization and industrialization are driving the market demand.