Metal Recycling Market Regional Analysis With Global Industry Forecast To Reach $368.7 Bn 2030

According to a new report published by Allied Market Research, titled, The global metal recycling market size was $217.0 billion in 2020 and is expected to reach $368.7 billion by 2030, registering a CAGR of 5.2% from 2021 to 2030.

Major determinants of the market growth
High rate of obsolescence, increase in consumer awareness, accelerating industrialization and urbanization in developing nations, and surge in energy savings with decreasing GHG levels have boosted the growth of the global metal recycling market. However, less old particle collection zones and unorganized flow of waste metals hinder the market growth. On the contrary, scarcity of rare earth metals is expected to open new opportunities in the future.

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Covid-19 scenario:
• The manufacturing activities in industries were halted during the Covid-19 pandemic and prolonged lockdown. This affected the metal recycling industry.
• The lack of workforce and disrupted supply chain hampered the collection of metal particles during the pandemic. However, as the world is slowly getting back on track, metal recycling would gain momentum.

The new particle segment to portray the highest CAGR by 2030

By metal old type, the new particle segment would register the highest CAGR of 6.1% during the forecast period, due to rise in new construction-related activities and surge in new manufacturing plants. However, the old metal segment held the largest share in 2020, accounting for more than half of the global metal recycling market, due to rise in volume of waste metal with rapid urbanization and industrialization.

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The automotive segment held the lion's share
By end user, the automotive segment dominated the market in terms of revenue in 2020, contributing to more than one-third of the global metal recycling market, as it benefits the environment by reducing volume of waste from end-of-life vehicles and GHG emission levels. However, the shipbuilding segment is projected to register the highest CAGR of 8.2% from 2021 to 2030, as steel metal from demolished and broken ships is a prime raw material for rolling mills.

Asia-Pacific, followed by Europe and North America, dominated the market in terms of revenue
By region, the market across Asia-Pacific, followed by Europe and North America, held the largest share in 2020, contributing to more than two-fifths of the market. In addition, the global metal recycling market across Asia-Pacific is anticipated to portray the highest CAGR of 7.4% during the forecast period, owing to rapid growth in metal recycling in China, Japan, India, and South Korea.

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Key market players
• ArcelorMittal
• Commercial Metals Company
• Nucor Corporation
• Aurubis AG
• SIMS Metal Management Limited
• Tata Steel
• European Metal Recycling Limited
• OmniSource Corporation
• Dowa Holdings Co., Ltd.
• Schnitzer Steel Industries Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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