Product Code: GVR-4-68038-810-7
Metal Recycling Market Growth & Trends:
The global metal recycling market size is expected to reach USD 1,135.28 billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing emphasis on circular economy and growing environmental awareness are major factors that are likely to propel the industry growth over coming years.
Global initiatives aimed at boosting recycling capabilities and obsolete scrap access are expected to drive long-term industry growth. Steel, being the most recycled material by volume, highlights its prominence in sustainability efforts. The rise in steel scrap production, fueled by rapid industrialization and its abundant availability, emphasizes the potential for industry expansion and enhanced sustainability.
Furthermore, the growing consumption of recycled metal in end-use industries is also likely to play a major role in driving industry growth. For instance, steel is largely consumed in the automotive, construction, industrial manufacturing, and consumer goods industries. Aluminum recycling is also gaining significant momentum as recycling aluminum saves over 90% of energy compared to its primary production.
Metal manufacturers are increasingly promoting recycling as an effective way to address the problem of resource scarcity and mitigate the environmental impact associated with the production process. The metal recycling industry is garnering a significant pace as economically viable recovery of metals from sorted recyclates is now feasible.
Asia Pacific dominated the revenue share in 2023 and is anticipated to continue over the forecast period from 2024-2030. Proper waste management and rapid urbanization are major factors that are likely to trigger industry growth in APAC. The growth of manufacturing in India, China, Vietnam, Thailand, Myanmar, and Indonesia is increasing production activities and boosting demand for metal recycling. This trend is mainly driven by China's fast-paced industrialization and urbanization, leading to a higher demand for metals in the construction, automotive, and electronics sectors.
Increased volume of scrap is driving the adoption of scrap-handling equipment such as magnetic separators and conveyors. Consequently, companies are undertaking expansion measures and making significant investments to boost their scrap handling capacities and increase output. For instance, in November 2023, Norsk Hydro ASA, an integrated smelter, opened its new Cassopolis plant. The USD 150 million plant in Michigan is expected to produce 120 million tons of recycled aluminum annually.
Metal Recycling Market Report Highlights:
- The steel segment is projected to register the fastest CAGR from 2024 to 2030 owing to the highest volume share of generated scrap and abundant availability of steel scrap from automobiles.
- The construction was the largest sector segment, with a revenue share of over 40.0% in 2023, owing to investments and high spending in the construction sector in emerging economies of Asia Pacific, such as India, Indonesia, Malaysia, and South Korea.
- The consumer goods sector segment is projected to witness a maximum revenue CAGR from 2024 to 2030 due to its role as both a key end user and a dominant source of metal scrap.
- Asia Pacific was the largest regional market in 2023 in terms of both volume and revenue. Infrastructural investments have enhanced the development of different industries, thereby resulting in a rise in demand for metals and, subsequently, metal recycling in Asia Pacific.
- Market players can improve their revenue model and market offerings by efficiently handling high-volume scrap in less time. This can be achieved through economies of scale, which companies are pursuing by expanding their operational capabilities.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.2.1. Information Procurement
- 1.2.2. Information Analysis
- 1.2.3. Market Formulation & Data Visualization
- 1.3. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Metal Recycling Market Variables, Trends & Scope
- 3.1. Global Metal Recycling Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Raw Material Trends
- 3.3. Technology Overview
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Industry Challenges
- 3.6. Porter's Five Forces Analysis
- 3.6.1. Supplier Power
- 3.6.2. Buyer Power
- 3.6.3. Substitution Threat
- 3.6.4. Threat from New Entrant
- 3.6.5. Competitive Rivalry
- 3.7. PESTEL Analysis
- 3.7.1. Political Landscape
- 3.7.2. Economic Landscape
- 3.7.3. Social Landscape
- 3.7.4. Technological Landscape
- 3.7.5. Environmental Landscape
- 3.7.6. Legal Landscape
Chapter 4. Metal Recycling Market: Metal Outlook Estimates & Forecasts
- 4.1. Metal Recycling Market: Metal Movement Analysis, 2023 & 2030
- 4.2. Aluminum
- 4.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 4.3. Copper
- 4.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 4.4. Steel
- 4.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 4.5. Others
- 4.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
Chapter 5. Metal Recycling Market: Sector Outlook Estimates & Forecasts
- 5.1. Metal Recycling Market: Sector Movement Analysis, 2023 & 2030
- 5.2. Construction
- 5.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 5.3. Automotive
- 5.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 5.4. Consumer Goods
- 5.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 5.5. Industrial Goods
- 5.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
Chapter 6. Metal Recycling Market Regional Outlook Estimates & Forecasts
- 6.1. Regional Snapshot
- 6.2. Metal Recycling Market: Regional Movement Analysis, 2023 & 2030
- 6.3. North America
- 6.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.4. U.S.
- 6.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.4.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.4.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.5. Canada
- 6.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.5.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.5.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.6. Mexico
- 6.3.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.6.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.3.6.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4. Europe
- 6.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.4. Germany
- 6.4.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.4.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.4.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.5. UK
- 6.4.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.5.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.5.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.6. France
- 6.4.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.6.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.6.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.7. Russia
- 6.4.7.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.7.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.7.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.8. Turkey
- 6.4.8.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.8.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.4.8.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5. Asia Pacific
- 6.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.4. China
- 6.5.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.4.2. Market estimates and forecast, by form, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.4.3. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.4.4. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.5. India
- 6.5.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.5.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.5.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.6. Japan
- 6.5.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.6.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.5.6.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.6. Central & South America
- 6.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.6.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.6.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.6.4. Brazil
- 6.6.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.6.4.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.6.4.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
- 6.7. Middle East & Africa
- 6.7.1. Market estimates and forecast, 2018 - 2030 (USD Billion) (Million Tons)
- 6.7.2. Market estimates and forecast, by metal, 2018 - 2030 (USD Billion) (Million Tons)
- 6.7.3. Market estimates and forecast, by sector, 2018 - 2030 (USD Billion) (Million Tons)
Chapter 7. Competitive Analysis
- 7.1. Key Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Market Ranking Analysis
- 7.4. Heat Map Analysis
- 7.5. Vendor Landscape
- 7.5.1. List of equipment manufacturers
- 7.5.2. List of scrap processors & recyclers
- 7.5.3. List of distributors
- 7.6. List of prospective end-users
- 7.7. Strategy Mapping
- 7.8. Company Profiles/Listings
- 7.8.1. European Metal Recycling Ltd.
- 7.8.1.1. Company Overview
- 7.8.1.2. Financial Performance
- 7.8.1.3. Product Benchmarking
- 7.8.2. GFG Alliance
- 7.8.2.1. Company Overview
- 7.8.2.2. Financial Performance
- 7.8.2.3. Product Benchmarking
- 7.8.3. CMC
- 7.8.3.1. Company Overview
- 7.8.3.2. Financial Performance
- 7.8.3.3. Product Benchmarking
- 7.8.4. Norsk Hydro ASA
- 7.8.4.1. Company Overview
- 7.8.4.2. Financial Performance
- 7.8.4.3. Product Benchmarking
- 7.8.5. Kimmel Scrap Iron & Metal Co., Inc.
- 7.8.5.1. Company Overview
- 7.8.5.2. Financial Performance
- 7.8.5.3. Product Benchmarking
- 7.8.6. Schnitzer Steel Industries, Inc.
- 7.8.6.1. Company Overview
- 7.8.6.2. Financial Performance
- 7.8.6.3. Product Benchmarking
- 7.8.7. Novelis
- 7.8.7.1. Company Overview
- 7.8.7.2. Financial Performance
- 7.8.7.3. Product Benchmarking
- 7.8.8. Tata Steel
- 7.8.8.1. Company Overview
- 7.8.8.2. Financial Performance
- 7.8.8.3. Product Benchmarking
- 7.8.9. Sims Metal
- 7.8.9.1. Company Overview
- 7.8.9.2. Financial Performance
- 7.8.9.3. Product Benchmarking
- 7.8.10. Utah Metal Works
- 7.8.10.1. Company Overview
- 7.8.10.2. Financial Performance
- 7.8.10.3. Product Benchmarking