Global Metal Recycling Market

Metal Recycling Market Size, Share, Growth Analysis, By Metal Type(Ferrous metal, non-ferrous metal), By Scrap Metal(Aluminum, Brass, Carbide, Copper), By Equipment(Briquetting Machines, Shears, Shredders, Balers), By End user(Construction, Automotive, Shipbuilding, Equipment manufacturing), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15J2068 | Region: Global | Published Date: July, 2001
Pages: 157 |Tables: 122 |Figures: 77

Metal Recycling Market Insights

Metal Recycling Market size was valued at USD 46.28 billion in 2019 and is poised to grow from USD 50.03 billion in 2023 to USD 88.5 billion by 2031, growing at a CAGR of 8.12% in the forecast period (2024-2031).

The process in which waste metal is reprocess into new metal product is referred as metal recycling. In metal recycling new metal product reduce greenhouse gas emission levels, preserve natural resources, and mange energy consumption. The governments in developed regions such as Canada, U.S, UK, and others have taken measures to promote metal recycling industry with good waste collection system, separation and sorting processes. For instance, the government of Canada has been working with the provinces, territories and industries to promote the re-use and recycling of metal products.

Metal recycling is one of the industrially and environmentally important process. It involves recycling of the scrap metals to use it again. The metal recycling market encompasses a broad range of metals but most frequently recycled metals are stainless steel, copper, iron, lead, aluminium, and zinc. These are primarily categorized on the basis of ferrous content. Increasing usage of metals in various end-use industries is expected to drive the market growth.

Rise in urbanization and industrialization and increased consumption of commodities along with depletion of natural resources and re-utilizing these resources has created immense scope, which drive growth of the global metal recycling market.

US Metal Recycling Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 46.28 billion

Largest Segment

Ferrous Metal

Fastest Growth

Ferrous Metal

Growth Rate

8.12% CAGR

Global Metal Recycling Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Metal Recycling Market Segmental Analysis

Global Metal Recycling Market is segmented by Metal type, Scrap Metal, Equipment, End user and region. Based on metal type, the market can be segmented into Ferrous metal, Non-ferrous metal. Based on Scrap metal, the market is segmented into Aluminum, Brass, Carbide, Copper, others. Based on Equipment, the market is segmented into Briquetting Machines, Shears, Shredders, Balers, others. Based on End user, the market is segmented into Construction, Automotive, Shipbuilding, Equipment manufacturing, Consumer appliances. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Metal Recycling Market Analysis by Metal Type

The ferrous segment is expected to be the fastest-growing market during the forecast period. Iron and steel scraps are among the most commonly recycled ferrous metals on the planet. This scrap is derived from end-of-life products as well as scrap generated during manufacturing processes. Scrap steel production has become an essential component of the steelmaking industry. According to the Bureau of International Recycling, scrap steel accounts for 40% of total steel production.

Metal Recycling Market Analysis by End user

In 2021, the construction sector led the market, accounting for more than 46.0% of global volume. Steel and aluminum are in high demand in the global construction industry. Rising urbanization as a result of rising disposable income levels in emerging economies is expected to contribute to the expansion of the construction industry, driving demand for construction metal products. This, in turn, is expected to propel the recycling industry forward.

Global Metal Recycling Market By Metal Type, 2019 (%)

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Metal Recycling Market Regional Insights

Asia pacific is fastest growing market for metal recycling due to its increasing economic growth. Increasing demand for metal from emerging nations like India and China is expected to boost the regional market growth. Asia Pacific accounted for major share of scrap global metal recycling market in 2021. Increasing demand for scrap products coupled with easy government rules and regulation are major factor expected to boost the growth of the global metal recycling market. According to World Steel, China is the largest producer of steel and it produced 996.3 Mn tons in 2019 and accounted for roughly 53% of the global crude steel production. China sources roughly 20% of the raw material required for steel making from scrap recycling.

Europe is the second largest global metal recycling market as a result of high consumer adoption rate. Largest consumer demand from automotive, building, and construction industries is observed in developed countries including Germany, UK, France and other. Europe is expected to show substantial growth attributed to the presence of large metal recycling company. Europe is expected to be the fastest growing market during the forecast period because of the rise in the usage of recycled scrap for secondary metal production in the region.

North America is expected to show considerable growth due to the stringent rules imposed by government authorities to stop illegal and exploitation of mines and metal reserves. Latin America exhibit moderate growth due to increasing mining activities. Middle East and Africa exhibit sluggish growth by the end of 2028.

Global Metal Recycling Market By Region, 2024-2031
  • Largest
  • Fastest

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Metal Recycling Market Dynamics

Metal Recycling Market Driver

  • Emerging automotive and construction industries are providing a forward thrust to the demand for metal in manufacturing parts and residential buildings. However, limited availability of earth-metals and high-cost of mining earth is fuelling the scrap recycling market to meet the demand. High demand for recycled metals in all of these industries is due to the fact that metals retain their properties even after multiple recycling. This property raises the demand for recycled metals.
  • Growing concerns about greenhouse gas emissions and deteriorating air quality in urban areas are boosting the demand for metal recycling. The distinctive attributes of metal recycling such as reduction of pollution, conservation of energy and saving valuable raw materials is imperative to meet global targets. According to Bureau of International Recycling, 40% of steel production is made from scraps.

Metal Recycling Market Restraint

  • Unorganized flow of waste metals and presence of less scrap collection zones are anticipated to hamper the growth of the market. Contaminated metal cannot be recycled. Metal has come into contact with harmful toxins even if you clean the cans, you can’t guarantee that all the chemicals have been removed. As a result, it is unwise to recycle.
  • High upfront capital costs-recycling is not always cost-effective. Building up a new waste recycling unit takes up a lot of capital. The accompanying costs include buying different kinds of utility vehicles, upgrading the recycling unit, waste, chemicals, disposal and schooling the locals by initiating useful program and seminar.

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Metal Recycling Market Competitive Landscape

Global metal recycling market is disorganized and fragmented. Growing environmental concerns, rising end-use industry demand, and rising government regulations are expected to encourage manufacturers to source more raw materials from recycling. Tata Steel announced its intention to open its first recycling plant in the Indian state of Haryana in June 2019. This strategic initiative aims to help the company gain a competitive advantage in the Indian market.

Top Players in the Global Metal Recycling Market

  • Nucor Corporation
  • ArcelorMittal
  • Sims Metal Management Ltd.
  • Commercial Metals Company
  • Schnitzer Steel Industries, Inc.
  • Kuusakoski Group Oy
  • European Metal Recycling Ltd.
  • Aurubis AG
  • Novelis Inc.
  • American Iron & Metal Co.
  • Omnisource Corporation
  • Tata Steel Ltd.
  • Ferrous Processing & Trading Co.
  • Dowa Holdings Co., Ltd.
  • HKS Metals BV
  • ELG Haniel GmbH
  • Scrap Metal Services LLC
  • David J. Joseph Company
  • SA Recycling LLC
  • Upstate Shredding – Weitsman Recycling.

Metal Recycling Market Recent Developments

  • In November 2019, ArcelorMittal invested in new sustainability program in Europe with the aim to secure Responsible Steel site certification for all its ArcelorMittal Europe - Flat Products sites.
  • In May 2019, Nucor Corporation announced a capital investment that will add its vacuum degassing to its engineered bar capabilities at its bar mill in Darlington, South Carolina. Adding this capability will enable the mill to produce engineered bar products meeting some of the most stringent quality specifications in the industry. The vacuum degassing system is expected to begin operations in late 2020.
  • In May 2019, Aurubis AG acquired Belgian-Spanish Metallo Group to continue actively pursuing its multi-metal and recycling strategy. The acquisition, with its attractive growth potential, strengthens company’s multi-metal portfolio, especially in the key metals copper, nickel, tin, zinc, and lead.
  • In October 2020, ArcelorMittal and Triple M joined forces to form Integrated Metal Recycling Inc. This joint venture will combine many of the recycling activities of the two partners in Quebec. This venture is projected to improve revenue of the scrap metal recycling business.
  • In May 2020, Aurubis AG acquired the scrap metal recycling company Metal. This acquisition was made to improve its metal scrap production capacity. It is also likely to help Aurubis AG increase its global market reach in the scrap metal recycling segment.

Metal Recycling Key Market Trends

  • Scrap metal recycling is extensively used in the automotive sector. According to World Auto Steel, steel and iron components make up around 65% of the average vehicle, and hence, scrap metal recycling materials, especially ferrous materials, are highly sought-after in this sector.
  • According to ISRI, ferrous scrap is the most recycled material in the world. The U.S Geological survey estimates that 65 million tons of iron and steel scrap was processed around world.
  • As per the report, producing steel from ferrous scrap requires 60% less energy and reduces CO2 emission and the produced steel can be used in construction of building, bridges, and new cars.

Metal Recycling Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, by using recycled steel and aluminium scrap, automotive manufacturers and their suppliers are able to conserve raw materials, energy, and miles of landfill space. The domestic steel industry recycles millions of metric tons per year of steel cans, automobiles, appliances, construction materials, and other steel products. Consumption of iron and steel scrap by remelting reduces the burden on landfill disposal facilities and prevents the accumulation of abandoned steel products in environment.

Report Metric Details
Market size value in 2019 USD 46.28 billion
Market size value in 2031 USD 88.5 billion
Growth Rate 8.12%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Metal Type
    • Ferrous metal, non-ferrous metal
  • Scrap Metal
    • Aluminum, Brass, Carbide, Copper, others
  • Equipment
    • Briquetting Machines, Shears, Shredders, Balers, others
  • End user
    • Construction, Automotive, Shipbuilding, Equipment manufacturing, Consumer appliances
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Nucor Corporation
  • ArcelorMittal
  • Sims Metal Management Ltd.
  • Commercial Metals Company
  • Schnitzer Steel Industries, Inc.
  • Kuusakoski Group Oy
  • European Metal Recycling Ltd.
  • Aurubis AG
  • Novelis Inc.
  • American Iron & Metal Co.
  • Omnisource Corporation
  • Tata Steel Ltd.
  • Ferrous Processing & Trading Co.
  • Dowa Holdings Co., Ltd.
  • HKS Metals BV
  • ELG Haniel GmbH
  • Scrap Metal Services LLC
  • David J. Joseph Company
  • SA Recycling LLC
  • Upstate Shredding – Weitsman Recycling.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Metal Recycling Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Metal Recycling Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Metal Recycling Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Metal Recycling Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Metal Recycling Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Metal Recycling Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

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FAQs

Metal Recycling Market size was valued at USD 46.28 billion in 2019 and is poised to grow from USD 50.03 billion in 2023 to USD 88.5 billion by 2031, growing at a CAGR of 8.12% in the forecast period (2024-2031).

metal recycling market is disorganized and fragmented. Growing environmental concerns, rising end-use industry demand, and rising government regulations are expected to encourage manufacturers to source more raw materials from recycling. Tata Steel announced its intention to open its first recycling plant in the Indian state of Haryana in June 2019. This strategic initiative aims to help the company gain a competitive advantage in the Indian market. 'Nucor Corporation', 'ArcelorMittal', 'Sims Metal Management Ltd.', 'Commercial Metals Company', 'Schnitzer Steel Industries, Inc.', 'Kuusakoski Group Oy', 'European Metal Recycling Ltd.', 'Aurubis AG', 'Novelis Inc.', 'American Iron & Metal Co.', 'Omnisource Corporation', 'Tata Steel Ltd.', 'Ferrous Processing & Trading Co.', 'Dowa Holdings Co., Ltd.', 'HKS Metals BV', 'ELG Haniel GmbH', 'Scrap Metal Services LLC', 'David J. Joseph Company', 'SA Recycling LLC', 'Upstate Shredding – Weitsman Recycling.'

Emerging automotive and construction industries are providing a forward thrust to the demand for metal in manufacturing parts and residential buildings. However, limited availability of earth-metals and high-cost of mining earth is fuelling the scrap recycling market to meet the demand. High demand for recycled metals in all of these industries is due to the fact that metals retain their properties even after multiple recycling. This property raises the demand for recycled metals.

Scrap metal recycling is extensively used in the automotive sector. According to World Auto Steel, steel and iron components make up around 65% of the average vehicle, and hence, scrap metal recycling materials, especially ferrous materials, are highly sought-after in this sector.

Asia pacific is fastest growing market for metal recycling due to its increasing economic growth. Increasing demand for metal from emerging nations like India and China is expected to boost the regional market growth. Asia Pacific accounted for major share of scrap metal recycling market in 2021. Increasing demand for scrap products coupled with easy government rules and regulation are major factor expected to boost the growth of the metal recycling market. According to World Steel, China is the largest producer of steel and it produced 996.3 Mn tons in 2019 and accounted for roughly 53% of the crude steel production. China sources roughly 20% of the raw material required for steel making from scrap recycling.

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