Press release
Recycled Metal Market Size and Forecasts (2020 - 2030)
Recycled metals are needed as a valuable resource that creates various metals products. The process of recycling metals involves collecting used or discarded metals, processing it, and creating a new metals material. Metals recycling plays a vital part in reducing the environmental impact of both mining and manufacturing, as well as conserving natural resources. It also offers economic benefits by reducing energy consumption and production cost. Indeed, the recycling of both ferrous and non-ferrous metals such as aluminium, brass, tin, bronze, cast iron, steel, and copper brings numerous benefits.Click Here to Get Sample PDF- https://www.theinsightpartners.com/sample/TIPRE00003777/?utm_source=OpenPR&utm_medium=10310
The Recycled Metals Market is expected to grow substantially during the forecast period. The global recycled metals market is experiencing accelerated growth due to several factors. The governments of various nations are emphasizing on recycling of metals by enacting various laws and regulations. These regulations often require manufacturers to procure raw materials from recycled sources, thereby promoting the use of recycled metals. However, the limited availability of srap collection zones or recycling facilities can impede the market's growth. More collection points or recycling centres make it easier for individuals and businesses to properly dispose of their srap metals. The unavailability of such facilities can result in a lower supply of recyclable metals, affecting the overall market growth. By recycling metals, reliance on virgin raw materials can be reduced and the need for energy-intensive mining and extraction processes can be minimized. Besides, rapid urbanization and industrialization in both developed and developing economies is anticipated to drive demand for metals in construction, infrastructure development, and manufacturing across globe. Leading metallurgy companies are opting for development of sustainable products to decarbonising their operations and meet climate change mitigation targets. For instance, in August 2021, Tata Steel entered in Steel Recycling Business, by commissioning its first recycling plant of 500 kilo tons per annum in Haryana, India. This will help in reducing the carbon emissions, energy utilization and focus on carbon neutrality.
The research provides answers to the following key questions:
• What is the estimated growth rate of the market for the forecast period 2023-2030? What will be the market size during the estimated period?
• What are the key driving forces responsible for shaping the fate of the Recycled Metal market during the forecast period?
• Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Recycled Metal market?
• What are the prominent market trends influencing the development of the Recycled Metal market across different regions?
• What are the major threats and challenges likely to act as a barrier in the growth of the Recycled Metal market?
• What are the major opportunities the market leaders can rely on to gain success and profitability?
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Recycled Metal Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
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Ankit Mathur
Sr. Vice President - Research
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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.
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