Global Scrap Metal Recycling Market to Surge to USD 499.21 Billion By 2027

Facts and Factors Market Research has published a new report titled “Scrap Metal Recycling Market By Metal Type (Ferrous Metals and Non-Ferrous Metals) and By End-User (Automotive, Industrial Machinery, Packaging, Ship Building, Electronics & Electrical Equipment, and Building & Construction): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the global Scrap Metal Recycling market is predicted to be valued at approximately USD 313.50 billion in 2018 and is expected to reach a value of around USD 499.21 billion by 2027, at a CAGR of around 7.64% between 2019 and 2027.

Scrap metal recycling helps to gather and processing non-ferrous as well as iron-based metals. It involves organizing, cutting, shredding, and burning down the scrap metals before sending it to the steel mills. In short, scrap metal recycling is the processing & recovering of scrap metals from end-of-life goods and production scrap for launching them as raw materials in the manufacturing of new products. Through scrap metal recycling, customers shed cars and electronic goods.

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Scrap comprises of recyclable items left out from product manufacturing and use. This includes vehicle components, building materials, and surplus goods. Unlike waste materials, scrap possesses monetary value.

Massive vehicle & consumer electronics demand to boost the market growth

The thriving consumer electronics & automotive sectors are expected to leverage the growth of the scrap metal recycling industry during the forecast timeline. Moreover, launching new technologies in the vehicle sector including 3D laminated glass, AR heads-up displays, and haptic sensors providing driver alerts, warnings, and safety aids on invisible screens will drive the demand for scrap metal recycling over the forecast period. Additionally, technological breakthroughs in the consumer electronics sector will embellish the market expansion over the forecast period.

Furthermore, swift industrialization, rise in the infrastructural activities, and preference for smart devices have created the need for metal products. This is likely to transform into the demand for metal recycling activities over the forecast period. Nonetheless, unorganized metal waste collection activities in the emerging economies will hinder the growth of the market during the forecast timeline. However, recycling metal helps in energy conservation as compared to material mining, thereby producing new growth avenues for the market over the forecast timespan.

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Ferrous metals to dominate the metal type segment by 2027

The growth of the segment during the forecast timeline is owing to its durability and the large-scale use of ferrous metals in constructing skyscrapers, high-burden bridges, durable pipelines, and railroad systems.

Software segment to lead the end-user landscape over the forecast period

The segmental growth during the period from 2019 to 2027 is owing to the high demand for scrap metal recycling for manufacturing software products. Apart from this, an escalating preference for the DRM systems to secure or safeguard data copying of software & copyright protection will boost the growth of the segment over the forecast period.

Asia Pacific market to record the highest CAGR over the forecast period

The market in the Asia Pacific zone is set to register the highest growth rate of over 16% during the timespan from 2019 to 2027. The regional market expansion is credited to growing digitization along with the introduction of new initiatives by the government in countries like Japan, India, and China.

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Some of the key participants in the business include ArcelorMittal, Aurubis AG, Commercial Metals Company, Dowa Holdings Co., Ltd., European Metal Recycling Limited, Nucor Corporation, OBniSource Corporation (Steel Dynamics, Inc.), Schnitzer Steel Industries, Inc., SIMS Metal Management Limited, and Tata Steel.

This report segments the Scrap Metal Recycling market as follows:

Scrap Metal Recycling Market: By Metal Type Analysis

Ferrous Metals
Non-Ferrous Metals

Scrap Metal Recycling Market: By End-User Analysis

Automotive
Industrial Machinery
Packaging
Ship Building
Electronics & Electrical Equipment
Building & Construction

Scrap Metal Recycling Market: By Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa

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