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Recycled Metal Market Size, Industry Share, Trends, Analysis And Forecast Report 2023-2032
Recycled Metal Market Report
The Business Research Company's Recycled Metal Global Market Report 2023 identifies The growing demand in the construction sector as the major driver for the recycled metal market's growth in the forecast period. The construction sector comprises manufacturing and commerce concerned with creating, maintaining, and fixing structures and drilling and mineral exploration. Construction activities have been on the rise due to rapid industrialization and urbanization. These construction activities create a huge demand for recycled metals, as they are economical and sustainable.
The global recycled metal market size is expected to grow from $65.53 billion in 2022 to $69.69 billion in 2023 at a compound annual growth rate (CAGR) of 6.35%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The recycled metal market size is expected to grow to $84.07 billion in 2027 at a CAGR of 4.80%.
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Major competitors in the recycled metal market are ArcelorMittal S.A., Nucor Corporation, Commercial Metals Company, Sims Metal Management Limited, Aurubis AG.
A key trend in the recycled metal market includes strategic partnerships and collaborations. Major companies operating in recycled metals are entering into a partnership to leverage each other's resources and expand into a new market. For instance, in July 2022, Novelis Inc., a US-based recycling company partnered with Sortera Alloys Inc. Through this partnership, Novelis aimed to keep raising the percentage of recycled material in its automotive alloys, thereby lowering the carbon footprint.
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The recycled metal market is segmented -
•By Product: Steel, Aluminum, Copper, Other Products
•By Metal: Ferrous, Non-Ferrous, Precious Metals
•By End-User: Construction, Transport And Automotive, Industrial Machinery, Electronics, Defense, Packaging, Military, Consumer Goods, Other End-Users
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the recycled metal market.
The Business Research Company's "Global Recycled Metal Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Recycled Metal Market Include:
1. Executive Summary
2. Recycled Metal Market Characteristics
3. Recycled Metal Market Trends And Strategies
4. Recycled Metal Market - Macro Economic Scenario
5. Recycled Metal Market Size And Growth
……
26. Africa Recycled Metal Market
27. Recycled Metal Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Recycled Metal Market
29. Recycled Metal Market Future Outlook and Potential Analysis
30. Appendix
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