Press release
Metal Recycling Market to Reach USD 92.2 Billion by 2031, Growing at 6.8% CAGR
Metal Recycling Market
Asia-Pacific, which accounted for 48.6% of market volume in 2023, remains the fastest-growing region, with China at the forefront of production and consumption. The region benefits from cost savings, reduced energy use, and lower emissions achieved through recycling. Automotive OEMs, infrastructure developers, and electronics manufacturers increasingly integrate recycled metals into production, satisfying regulatory compliance and consumer demand for eco-friendly products.
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Key Highlights from the Report
➤ Global metal recycling market to reach USD 92.2 billion by 2031 at 6.8% CAGR
➤ Asia-Pacific dominates with 48.6% share, projected to grow at 10.6% CAGR (volume)
➤ Ferrous metals segment leads due to strong use in construction, automotive, and machinery
➤ Old cast segment to record highest growth from post-consumer and obsolete goods recycling
➤ Slag residue recovery offers new opportunities for reclaiming valuable metals
➤ Increasing investments in automation and sustainable recycling technologies worldwide
Market Segmentation
By type, ferrous metals-including steel, cast iron, and alloy steel-remain the largest segment due to their extensive use in infrastructure, automotive, and industrial machinery. Recycling ferrous metals reduces environmental impact, conserves natural resources, and offers cost-effective raw material access.
By cast source, old cast-originating from obsolete goods such as decommissioned vehicles, building materials, and consumer appliances-shows the most rapid growth, converting millions of metric tons annually into reusable raw material.
By end-use industry, construction, automotive, and electronics lead in consumption of recycled metals, driven by urban expansion, rising EV adoption, and e-waste management standards.
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Regional Insights
Asia-Pacific: Fastest-Growing and Largest Market
Asia-Pacific's dominance is propelled by rapid industrialization, urbanization, and large-scale recycling initiatives in China, India, and Southeast Asia. Government policies promoting domestic recycling and restricting imported cast enhance demand for recycling infrastructure. The region's manufacturing scale also generates significant cast volumes for processing.
North America: Strong Recycling Network
North America benefits from well-established recycling infrastructure and strong industrial adoption across automotive, aerospace, and manufacturing sectors. Policies promoting circular economy practices and reductions in landfill waste support continued growth.
Europe: Sustainability-Driven Adoption
Europe's recycling market is advanced, with high integration of recycled metals into production and emphasis on reducing carbon footprints under EU Green Deal objectives. Major players invest heavily in cast processing and advanced sorting technologies.
Market Dynamics
Market Drivers
Increasing urbanization fuels construction demand, while industrialization creates manufacturing cast for recycling. Industries prefer recycled metals for economic and environmental benefits, reducing energy use and carbon emissions.
Market Restraints
Disorganized waste collection systems in developing countries hinder efficient metal recovery, reducing recycling rates and limiting access to valuable cast material.
Market Opportunities
Metal recovery from slag residues offers sustainable and cost-effective supply of high-quality metals, reducing reliance on virgin ore mining and advancing circular economy goals.
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Reasons to Buy the Report
✔ Analysis of growth drivers in automotive, construction, and electronics recycling demand
✔ Insights into technological innovations for advanced cast sorting and metal recovery
✔ Regional breakdown highlighting Asia-Pacific's high-growth potential
✔ Profiles of leading market players and their strategic initiatives
✔ Forecast data supporting investment planning in sustainable recycling operations
Frequently Asked Questions (FAQs)
◆ How big is the global metal recycling market in 2022 and its forecast for 2031?
◆ Which region leads in metal recycling capacity and demand?
◆ What drives ferrous metal recycling growth globally?
◆ Which cast segment is expected to grow fastest?
◆ Who are the major players in the global metal recycling market?
Company Insights
ArcelorMittal (Luxembourg)
Nucor Corporation (U.S.)
CMC (U.S.)
Sims Limited (Australia)
Aurubis AG (Germany)
Dowa Holdings Co., Ltd. (Japan)
Tata Steel (India)
Radius Recycling, Inc. (U.S.)
European Metal Recycling Ltd. (UK)
Upstate Shredding - Weitsman Recycling (U.S.)
Recent Developments:
January 2023 - ArcelorMittal acquired Riwald Recycling in the Netherlands, enhancing ferrous cast capabilities and supporting its decarbonization strategy.
November 2023 - Nucor Corporation's River Metals Recycling expanded with acquisition of Garden Street Iron & Metal, adding a shredder yard and boosting processing capacity.
Conclusion
The global metal recycling market is entering a transformative phase, driven by sustainability targets, technological advancements, and industrial growth. Asia-Pacific leads in scale and growth potential, while North America and Europe pursue advanced recycling solutions aligned with circular economy principles. With expanding opportunities like slag metal recovery and automated sorting systems, industry players are positioned to capitalize on both economic and environmental benefits over the next decade.
Contact Us
Mr. Sai Kiran
DataM Intelligence 4market Research LLP Ground floor
DSL Abacus IT Park, Industrial Development Area
Uppal, Hyderabad, Telangana 500039
USA: +1 877-441-4866
Email: Sai.k@datamintelligence.com
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About Us
DataM Intelligence 4Market Research is a comprehensive market intelligence platform offering syndicated and customized reports along with expert consulting across multiple industries, including chemicals, healthcare, agriculture, food & beverages, and more. With extensive experience and a strategy-focused approach, DataM provides businesses and individuals with reliable market insights, statistical forecasts, and personalized research solutions to help them make informed decisions and successfully bring innovations to market.
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