Global Recycled Metal Market to Notch US$476.2 bn by 2024, Demand from Building and Construction Sector to Remain Strong:MRRSE

As sustainability and resource recovery become central to business strategies in the manufacturing and industrial sectors, the recycled metal market is expected to benefit immensely in the coming years. According to a new report featured on the website of Market Research Reports Search Engine (MRRSE), the global recycled metal market stood at a valuation of US$312.9 bn in 2015 – a figure that is expected to climb to US$476.2 bn by 2024. Expressed in CAGR, this translates to 4.8% between 2016 and 2024. The report, titled, ‘Recycled Metal Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024,’ has been published by Transparency Market Research (TMR).

Request A Research Sample Report : http://bit.ly/2cT2ID1

Currently, a staggering share of the global revenues in the global recycled metal market are raked in by smaller players scattered across the globe. The three leading players accounted for merely 14.5% of the global market revenues as of 2015, the report states. Marked by such a high level of fragmentation, consolidation efforts are naturally the way ahead for companies who want to boost revenues while leveraging the niche capabilities and consumer base on smaller players. However, a major challenge that is currently holding back the growth of the recycled metal market is the high capital investments required to make a foray into this space. With millions of dollars’ worth of investments at stake, the exit barriers in the recycled metal market remain high too.

The urban sprawl across the world, which has thus far made extensive use of metals, has begun to create massive amounts of metal waste. With a growing need for recycled metal now being felt, it is imperative that investments in recycling both ferrous and non-ferrous metals will progressively increase. According to the research report, the demand for ferrous metal recycling is currently higher than that for non-ferrous metals. The highest scope for revenue generation in the global recycled metal market is seen in recycling steel and iron. Moreover, the demand for aluminum (segmented under non-ferrous metals) is also conspicuously on the rise.

The top end users of recycled metal markets, as identified in the report, are: Industrial machinery, building and construction, automotive, shipbuilding, electrical and electronics, and others. Among these key end users, it is the building and construction industry that has emerged as a leading end user of recycled metal.

From the geographical standpoint, Asia Pacific and Europe collectively show a clear dominance in the global market for recycled metal. The two geographical segments together comprised 70% of the market in revenue terms as of 2015. In Asia Pacific, few countries have been able to near China in the recycled metal market in terms of both volume and value. However, the recycled metal market in India is projected to post a strong CAGR through the report’s forecast period.

The key companies that are studied in the global recycled metal market are European Recycled Metal, Sims Metal Management Ltd., and OmniSource Corporation.

Browse Full Global Recycled Metal Market Report with TOC:http://www.mrrse.com/metal-recycling-market

About Us

Market Research Reports Search Engine (MRRSE) is an industry-leading database of market intelligence reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.

MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting.

About Us

Market Research Reports Search Engine (MRRSE) is an industry-leading database of market intelligence reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.

MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting.

State Tower
90, State Street
Suite 700
Albany, NY - 12207
United States
Telephone: +1-518-730-0559
Email: sales@mrrse.com

This release was published on openPR.