1. What is the projected Compound Annual Growth Rate (CAGR) of the Scrap Metal Recycling Market?
The projected CAGR is approximately 12.8%.
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Scrap Metal Recycling MarketScrap Metal Recycling Market by Type (Ferrous, Non-Ferrous (Aluminum, Copper, Others), by Application (Building & Construction, Automotive, Equipment Manufacturing, Packaging, Consumer Appliances, Others), by North America (U.S., Canada), by Europe (Germany, Italy, France, U.K., Rest of Europe), by Asia Pacific (China, Japan, India, South Korea, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Rest of Latin America), by Middle East & Africa (GCC, South Africa) Forecast 2026-2034
The Scrap Metal Recycling Market size was valued at USD 256.3 billion in 2023 and is projected to reach USD 459.7 billion by 2032, exhibiting a CAGR of 12.8 % during the forecast period. Scrap metal recycling is the process of collecting and rejuvenating old metal products for use in manufacturing or other functions. It includes all categories of metals such as ferrous and non-ferrous metals, ferrous metals are mainly metals that contain iron while non-ferrous metals are aluminium, copper and brass among others. This usually entails the collection of scrap metal, sorting, shredding, melting and purification to obtain the end product. It is versatile when used across sectors such as construction, automobile, electronics, and production among others. Scrap metal is used in the manufacturing of products with minimal use of virgin materials hence a smaller negative impact on the environment. Advantages are utilization of raw materials, energy efficiency and decreased emission of greenhouse gases when compared to actual metal production.
Type:
End-Use Industry:
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 12.8% from 2020-2034 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 12.8%.
Key companies in the market include The global & regional players operating in scrap metal recycling market includes ArcelorMittal, Aurubis AG, Kuusakoski Oy, Nucor Corporation, AIM Recyclage, Sims Limited, Omnisource Corporation, Metallon Recycling Pte Ltd, DBW Metals Recycling, TKC Metal Recycling Inc. and others..
The market segments include Type, Application.
The market size is estimated to be USD 256.3 USD Billion as of 2022.
Growth in the Global Construction Industry to Offer Opportunities to the Self-Healing Materials Market.
Growing environmental concerns are driving the demand for scrap metal recycling as a sustainable waste management solution..
Higher Cost of Bioplastics as Compared to Traditional Plastics to Hinder Market Growth.
In 2022, Aurubis announced the acquisition of Proteus Industries, a leading metal recycler in North America, expanding its global reach. Sims Limited launched its "Closed Loop" initiative to promote end-to-end recycling solutions for the electronic waste industry. The World Steel Association has established a global platform to promote circular economy practices in the steel industry, encouraging scrap metal recycling.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in Kiloton.
Yes, the market keyword associated with the report is "Scrap Metal Recycling Market," which aids in identifying and referencing the specific market segment covered.
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