Growth Anticipated for Recycled Metal Market With Major Key Players- Nucor Corporation, Aurubis Ag, Steel Dynamics

According to the latest report by Quince Market Insights, the Global Recycled Metal Market is projected to reach USD 971.69 billion by 2028 at a CAGR of 7.3% during the forecast period.

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The recycled Metal market expects high demand from the Asia-Pacific region
During the forecast period, significant use of the product in the automotive industry and elevated demand in the Asia Pacific region are expected to drive the market. Scrap metals are produced by many different industries. Thus these factories serve as a source of raw materials used in the mining of metals. Scrap metals are rich in waste material. One can distort or corrode the scrap metal.

Therefore, they are treated first to produce recycled metals. The automotive industry is the single largest scrap metal source contributing to around 50 percent of the scrap metals obtained. Building & design, and the electronics industry are amongst others. Precious metals such as platinum, palladium, gold, and silver are also recycled. The growing awareness of energy conservation has pushed companies to recycle metals, as it helps prevent mining and is an energy-efficient process. Hence, metal mining has risen globally due to these economic and financial benefits.

Factors influencing the Recycled Metal market-
The most used metals are copper & aluminium. We collectively make up around 58 percent of the global recycled metals. Around 40 percent of total steel products are made of recycled scrap steel. Aluminum is the non-ferrous metal which is mostly recycled. About 630 million tons of aluminium were produced in 2017 from recycled metals. Precious metals obtained from recycling contribute to the annual production of jewelry by about 30 percent. As the automotive industry is a major contributor to scrap material production, several businesses have their own scrap metal recycling facilities in the region. The raw metals are processed and stored in these systems.

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This recycled metal is then sent to automotive manufacturing units where they are reused to optimize the value chain for their suppliers. This helps companies to save on costs and increase efficiency enormously. In electronics, scrap metals are produced during the electroplating, galvanizing, and PCB manufacturing process. The scrap metal is then recycled and reused in the same processes, reducing waste and increasing the corporate effectiveness. The shipbuilding industry is also a major contributor to the generation of scrap metal. Scrap metal is extracted from various parts of a ship and recycled. This recycled metal is then utilized across various industries.

In fact, the global market for recycled metals is strongly concentrated. Major companies account for over 50 percent of the annual (combined) recycled metals made. Major market players invest and form strategic partnerships to gain a market monopoly. Sims Metal Management, for example, acquired Morley Waste Traders, a metal recycler in the UK that culminated in the ownership of 50 recycling facilities nationwide. Such acquisitions contribute enormously to increasing market share, thus raising the company's market position.

Important Factors Impacting Market Growth:
o Rising demand in the automotive industry in the Asia Pacific
o Raising awareness of environmental degradation

What This Study Provides:
o Global market and submarket forecast covering the period 2016 to 2028, accompanied by analysis.
o Regional market and submarket forecast covering the period 2016 to 2028, accompanied by analysis.
o National market and submarket forecast covering the period 2016 to 2028, accompanied by analysis.
o Extensive details and analysis of contracts, projects, and programs.
o Market conclusions & recommendations
o Explanation of financial, economic and scientific considerations to consider.
o Barriers to market penetration analyze around the globe.
o Profiles of leading companies competing in the industry and market share analysis.
o SWOT analysis of the market, together with the opportunities available and the key challenges faced.
o Competitive landscape including the market share of major players, together with an overview of market share.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Nucor Corporation
2. Aurubis Ag
3. Steel Dynamics
4. Novelis
5. Commercial Metal Company
6. Sims Metal Management
7. European Metal Recycling
8. ELG Haniel Gmbh
9. and Schnitzer Steel

Market Segmentation:
By Metal Type:
o Ferrous Metals
o Non-Ferrous Metals
o Aluminum
o Copper
o Lead
o Others
o Precious Metals
By End User:
o Building & Construction
o Automotive
o Electrical & Electronics
o Shipbuilding
o Industrial Machinery
o Military & Defense
o Nuclear
o Chemical
o Others
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Metal Type
o By End-User
o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Metal Type
o By End-User
o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Metal Type
o By End-User
o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Metal Type
o By End-User
o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Metal Type
o By End-User
o Rest of the World
o By Region (South America, Africa)
o By Metal Type
o By End-User

Reasons to Buy This Report:
o Market size estimation of the global recycled metal market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Contact:

Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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This release was published on openPR.