Press release
Worldwide Recycled Metal Market By Metal 2024 | Nucor, Steel Dynamics, Schnitzer Steel, Sims Metal, Novelis, ELG Haniel and European Metal Recycling
Recycled Metal Market, Recycled Metal Market trends, Recycled Metal Market forecast, Recycled Metal Market analysis
North America recycled metal market was estimated close to USD 8.5 billion in 2017. This is mainly attributed to strong presence of transportation, electrical & electronics and defense industry which majorly constitute to the overall product demand. Moreover, strict laws formulated by the local regulatory bodies to reduce carbon footprint by recycling metal to save environment from the hazardous waste. For example, OSHA 3348-05 is responsible for identification and control of health hazard in metal recycling industry. Such instances are fundamental aspects which has triggered metal demand and therefore is probable to make positive influence on the reprocessed metal market by 2024.
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Meticulously analyzed in terms of pivotal industry segments, Global Recycled Metal market report effectively covers the scope of this space in terms By Metal, By Application and the prominent contributors. Additionally, the report also outlines intricate details regarding the lucrative opportunities that industry contenders can expect in conjunction with the potential threats that have been envisioned for this business sphere in the forthcoming years.
The report extensively bifurcates the various contenders of Global Recycled Metal market. Prominent contributors such as Iluka Resources Limited, Lynas Corporation, Ltd, Greenland Minerals and Energy Ltd, Northern Minerals Limited, Alkane Resources Ltd, Rising Nonferrous Metals Co., Ltd, Arafura Resources Ltd, Canada Rare Earth Corporation, China Minmetals Rare Earth Co., Ltd, Indian Rare Earths Limited, Neo Performance Materials Inc, Avalon Rare Metals, Great Western Minerals Group Ltd have been scrutinized in terms of their financials, strengths, weaknesses, potential threats in the market, and future opportunities.
In volume terms, recycled ferrous metals market generated close to USD 550 million in 2017. It is primarily due to its comprehensive applications across transport, electronics, industrial machinery, defense and construction sector. Iron and steel are used in the construction industry is in building, steel frame works, bridges, etc., owing to its superior properties such as high tensile strength, durability and reliability to avoid wear & tear in the longer run. The aforementioned trends will support in attaining considerable gains to the global reprocessed metal market by 2024.
Reprocessed metal market share for electrical & electronics is projected to witness gains close to 4% by 2024. Metals are broadly used in the electrical & electronics industry due to its magnetic properties which is advantageous in several electronic applications. Non ferrous metals are used in electronics such as in printed circuit, computer chips, electrical switches, keyboard membranes, etc. owing to its thermal and electrical conductivity. The unique chemical and physical properties possessed by metals along with consistently advancing technologies in the electronics sector will contribute significantly to the global recycled metal market by 2024.
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Middle East construction industry is growing rapidly which is mainly due to stabilized crude oil prices which has resulted in rising investment in infrastructure projects. For instance, government in the Middle East has made substantial investment on the Projects such as King Abdulla Economic city in Saudi Arabia, Lusail city in Qatar, Oman rail network and Al Zour refinery in Kuwait. This will trigger demand for recycled metal mainly steel, iron, copper and aluminum. The abovementioned trends will make notable contribution to the recycled metal market in the forecast timeframe.
Strong growth in transportation and electrical & electronics industry mainly in the U.S. will also help trigger metal demand which is mainly due to consistently upgrading & advancing technology which is in line with evolving consumer?s preference. These aforementioned trends will have a significant influence on the overall recycled metal market by 2024.
Lack of highly competent recycling processes which can completely recover the metal from scrap is a main restraint which may hinder the overall recycled metal market size. Aluminum can only be recovered close to 35% from the scrap metal. Nonetheless, strong emphasis on reducing waste generated and its impact on the environment will generate ample opportunities for reprocessed metal market by 2024.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Recycled Metal Industry Insights
Chapter 4. Recycled Metal Market, Metal By End-user
Chapter 5. Recycled Metal Market, By End-user
Chapter 6. Recycled Metal Market, By Region
Chapter 7. Company Profiles
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