Market Analysis and Insights
With a CAGR of 5.5% from 2021 to 2030, the market for metal recycling is projected to grow from USD 217.03 billion in 2020 to USD 368.10 billion by 2030.
.jpg "The Global Metal Recycling Market 2020-2030 (USD Billion)")
The market is likely to experience tremendous growth potential due to the growing use of sophisticated sorting technologies, such as X-ray fluorescence and optical sensors, to identify and separate different types of metals from one another. These technologies are also becoming more and more popular in the metal recycling process, where they shred scrap metal into smaller pieces while using high-speed rotors and magnets to separate ferrous and non-ferrous metals.
Metal Recycling Market Scope :
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 368.10 billion |
| Growth Rate | CAGR of 5.5% during 2021-2030 |
| Segment Covered | by Metal Type ,Scrap Type ,End User , by Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Commercial Metals Company, OmniSource Corporation, ArcelorMittal, Nucor Corporation, SIMS Metal Management Limited, European Metal Recycling Limited, Aurubis AG, Tata Steel, Dowa Holdings Co., Ltd., and Schnitzer Steel Industries Inc. |
Market Definition
Metal recycling is the process of using scrap metal to make new, valuable products. The technique is employed to regulate energy consumption, reduce greenhouse gas emissions, and safeguard natural resources.
The process of using discarded metal, processing it, and producing a new substance from it is known as recycling metal. Bar, ropes, and poles, for instance, may all be made from this recycled metal. Metals are employed in many different industrial sectors, including the shipbuilding, automotive, industrial machinery, packaging, and building & construction sectors.
Key Market Segmentation
Insights on Metal Type
The Ferrous Metal Segment is Valued for the Highest Share
In terms of revenue, the ferrous metal segment held the largest market share in 2022, and it is predicted to keep that position throughout the anticipated time frame. The demand for ferrous metals, mostly iron, and steel, has been steadily rising across a variety of end-use sectors, including automotive, construction, and electronics, and these metals' ability to be recycled both internally and externally is a major factor in the segment market's expansion. The sector market is being positively impacted by the fact that recycling these materials is considerably less expensive than creating new materials from the fundamental core.
Insights on Scrap Type
The New Scrap Segment Valued for the Highest Share
The new scrap segment is expected to expand at the highest CAGR during the projected period. This is largely due to the increasing penetration and demand for metals across a variety of industries, along with the financial benefits of recycling metals, such as reduced energy consumption and lower production costs, which have increased the production of new scrap globally.
Insights on End-User
The Construction Segment Valued for the Highest Share
The construction segment valued for the significant portion of the global market revenue in 2022 and is expected to remain its market position over the predicted period due to the continuous demand and necessity for aluminum and steel from the construction sector, as well as the rapid rate of urbanization, particularly in emerging economies, which led to the development of new buildings for residential or commercial purposes.
Insights on Region
The Asia Pacific Region Accounted for the Highest Share
In 2022, the Asia Pacific region led the worldwide market for metal recycling, and it is predicted that this dominance would persist for the whole anticipated period. The rise of several end-use industries across the area, together with the rising improvements and advances in the recycling process and techniques, are all major contributors to the regional market's growth.
Key Company Profiles
The major companies profiled in the global market for metal recycling include Commercial Metals Company, OmniSource Corporation, ArcelorMittal, Nucor Corporation, SIMS Metal Management Limited, European Metal Recycling Limited, Aurubis AG, Tata Steel, Dowa Holdings Co., Ltd., and Schnitzer Steel Industries Inc.
COVID-19 Impact and Market Status
Supply chains were disrupted as a result of lockdowns, travel restrictions, and other steps to stop the virus's spread. The operation of recycling facilities as well as the collecting and transportation of scrap metal may have been impacted by this.
The pandemic's impact on the economy may have changed consumer demand for metal goods. It's possible that a decline in manufacturing, building, and automobile production has lowered demand for recovered metals. The price of commodities can have an impact on the metal recycling industry.
The price volatility in the metals market, which has an impact on the profitability of recycling operations, may have been a result of the economic depression brought on by the epidemic. There may have been fewer sources of scrap metal creation as a result of industries and enterprises temporarily shutting down or working at reduced capacity, which might have had an influence on the supply of feedstock for recycling.
Movement restrictions and social distancing rules may have caused a labour scarcity in recycling operations, which would have impacted processing speed. The export and import of scrap metals may have been impacted by delays in global commerce, changes in customs processes, and delays at ports.
Latest Trends
1. With the advent of cutting-edge technologies for sorting and processing scrap metal, such as machine learning, artificial intelligence (AI), and robotics, the accuracy and efficacy of material separation have grown. With these techniques, different metal types may be quickly identified and separated, reducing contamination and increasing recycling yields.
2. The use of IoT (Internet of Things) devices and sensors in recycling facilities enables real-time monitoring of material flows, equipment functioning, and process efficiency. This data-driven technique enables operators to optimise workflows, reduce downtime, and make informed decisions.
3. Many metal recycling businesses are putting their attention into developing closed-loop systems where goods are made to be simple to disassemble and recycle. With this strategy, producers are encouraged to use recycled materials in their goods, fostering a more circular economy.
4. Metropolitan mining is the process of removing precious metals from electronic trash (e-waste), which is produced in large quantities in metropolitan areas. This strategy saves resources and lessens the need for conventional mining.
5. The environmental impact of the metal recycling business is being reduced through innovations in the processes, such as employing environmentally friendly chemicals for metal recovery and using low-energy procedures. Manufacturing is embracing 3D printing utilizing recycled metal particles. This method makes use of discarded resources to produce intricate, customized metal pieces.
Significant Growth Factors
A stronger focus on sustainable practices has resulted from growing awareness of environmental issues, resource scarcity, and the carbon impact of industrial operations, which has increased demand for metal recycling.
Because recycled metals take less energy and resources to process than virgin metals do, recycling metals aids in the conservation of limited natural resources. The metal recycling industry can grow as a result of laws and policies that attempt to encourage recycling, lessen waste, and restrict businesses' negative environmental effects.
The need for recycled metals is being driven by the shift towards a circular economy, where resources are reused and recycled rather than wasted, as manufacturers look for sustainable sourcing choices.
The efficacy and cost-effectiveness of metal recycling operations have increased because of innovations in sorting technology, automation, and material recovery procedures.
A closed-loop strategy, in which recovered metals are employed directly in new products, is fostered through cooperation between recycling enterprises and downstream sectors, such as manufacturers.
Restraining Factors
Commodity price changes have an impact on the metal recycling industry, rendering it susceptible to market turbulence and economic cycles.
The quality and value of recycled metals may be impacted by the contamination of waste metals with non-metallic components, chemicals, or dangerous substances.
Infrastructure for effective gathering, sorting, and processing needs substantial investment and may be a barrier in some areas.
Effective scrap metal collecting networks are necessary to maintain a consistent scrap metal supply, and collection process interruptions can affect recycling operations.
International trade laws, taxes, and restrictions have an impact on the metal recycling industry. These factors might raise concerns and limit the flow of scrap metal over international borders.
Technology developments are a growth element, although some recycling procedures could need specialized tools and knowledge, which presents difficulties for less developed or smaller markets.
Due to the price and supply rivalry that primary metals frequently experience; recycled metal demand may be impacted.
Some of the environmental advantages of recycling metals can be diminished by the energy-intensive nature of some metal recycling techniques.
Recent Developments in the Global Metal Recycling Market: A Snapshot
• TOMRA Recycling unveiled its new X-TRACT for the recycling and processing of aluminum in May 2022. The novel synergies in metal recovery and diamond recovery are combined in this system. Complex metal mixes can now be sorted more effectively thanks to its improved capabilities and artificial intelligence.
• At the ISRI Convention in March 2022, AMCS unveiled its new cloud-enabled metal recycling platform. This platform was developed in conjunction with scrap recyclers to specifically automate operations related to scales, compliance, and contract management, as well as transport, hauler portal, inventory valuation, outbound logistics, and finance.
Key Segments Metal Recycling Market
by Metal Type
• Ferrous
• Non-Ferrous Metals
Scrap Type Overview
• Old Scrap
• New Scrap
End User Overview
• Building & Construction
• Packaging
• Automotive
• Industrial Machinery
• Electronics & Electrical Equipment
• Shipbuilding & Others
Regional Overview
North America
• U.S
• Canada
Europe
• Germany
• France
• UK
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of South America
Frequently Asked Questions (FAQ) :
Metal Recycling market expanded at approximately 5.5% CAGR From 2021-2030
Commercial Metals Company, OmniSource Corporation, ArcelorMittal, Nucor Corporation, SIMS Metal Management Limited, European Metal Recycling Limited, Aurubis AG, Tata Steel, Dowa Holdings Co., Ltd., and Schnitzer Steel Industries Inc.