Recycled Metal Market Research Report 2019 | Top Players are Sims Metal Management, Steel Dynamics, Novelis Inc., Armco Metal Holdings, Befeso, Schnitzer Steel, Sims Recycling Solutions, Nucor Corporation

Global Market Insights, Inc. has recently added a report on Recycled Metal Market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.

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.

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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.

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.

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.

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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. 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.

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.

Partial Chapter of the Table of Content:

Recycled metal market by end-user

Building & construction
Transport
Industrial machinery
Electrical & Electronics
Defense
Packaging
Consumer products
Nuclear industry
Military
Jewellery
Coins
Chemical
Others

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Prominent recycled metal manufacturers are Nucor, Steel Dynamics, Schnitzer Steel, Sims Metal, Novelis, ELG Haniel and European Metal Recycling. These manufacturers are rigorously engaged in acquisition, joint ventures and partnerships to expand its market presence. For instance, Steel Dynamics acquired assets from Sims Metal Management. The move was intended to support its Columbus flat roll division plant.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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