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Recycled Metal Market Is Expected To Triple In The Coming Years Owing To Favorable Market Conditions And Growing Importance Of Scrap Metal | Grand View Research, Inc.

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Recycled Metal Market Is Expected To Triple In The Coming Years Owing To Favorable Market Conditions And Growing Importance Of Scrap Metal | Grand View Research, Inc.

February 11
09:47 2021
Recycled Metal Market Is Expected To Triple In The Coming Years Owing To Favorable Market Conditions And Growing Importance Of Scrap Metal | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a recent report published by Grand View Research Inc., the increasing emphasis for environment sustainability is likely to push the market growth in the coming years. The demand for recycled metal is expected to triple in the coming years owing to favorable market conditions and growing importance of scrap metal.

According to the report, “Recycled Metal Market Size, Share & Trends Analysis Report By Product (Copper, Steel, Aluminum), By Region (North America, Asia Pacific, Central & South America, Middle East & Africa, Europe), And Segment Forecasts, 2019 – 2025”, the market growth is expected to witness a CAGR of 4.9% by 2025. 

Metal manufacturers are focusing more on promoting recycled materials as an effective way to address issues of resource scarcity and lessen environmental risk during the production process. Therefore, the industry is anticipating in a significant recovery of metals from the sorted recyclates. Proper waste management and rise in urbanization are some of the major factors that will trigger the market growth in the global market. 

Rising consumption of metals in the end-use industries is expected to play a significant role for market demand. For instance, steel and aluminum are highly consumed metals across various sectors such as automotive, electrical, consumer goods, etc. Hence, recycling of aluminum helps in saving around 90% energy as compared to its production.

U.S. Recycled Metal Market Size, By Product, 2014 - 2025 (USD Billion)

Recycled Metal Market Report Highlights:

Asia Pacific captured the largest revenue share of 67% in 2019, in terms of volume, as the region is the largest producer of metals in the world

Steel is expected to register the fastest CAGR of 6.4%, in terms of revenue, from 2020 to 2027 owing to abundant availability of steel scrap from automobiles

The construction application segment led the market with a volume share of approximately 47% in 2019, owing to high spending in the construction sector in emerging economies of Asia Pacific

Consumer goods is expected to register the fastest CAGR from 2020 to 2027 on account of rising demand for metal products in this sector

Aluminum was the second-largest recycled product in 2019 owing to the high demand for aluminum for the production of lightweight vehicles

“Would you Like/Try a Sample Report” Click the link below:https://www.grandviewresearch.com/industry-analysis/recycled-metal-market/request/rs1

Grand View Research has segmented the global metal recycling market on the basis of product, application, and region:

Metal Recycling Product Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 – 2027)

Steel

Aluminum

Copper

Others

Metal Recycling Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 – 2027)

Construction

Automotive

Consumer Goods

Industrial Goods

Metal Recycling Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 – 2027)

North America

The U.S.

Europe

Germany

Russia

Turkey

Asia Pacific

China

India

Japan

Central & South America

Brazil

Middle East & Africa

List of Key Players of Metal Recycling Market

European Metal recycling

CMC

Utah Metal Works

GFG Alliance

Norsk Hydro ASA

Kimmel Scrap Iron & Metal Co., Inc.

Schnitzer Steel Industries, Inc.

Novelis

Tata Steel

Sims Metal Management Limited.

Have Any Query? Ask Our Experts for More Details on Report:https://www.grandviewresearch.com/inquiry/6677/ibb

Browse Related Report @

Metal Forging Markethttps://www.grandviewresearch.com/industry-analysis/metal-forging-market

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About Grand View Research

Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.

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