Global Metal Recycling Market was valued at US$ XX Bn in 2017 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during a forecast period.
Metal recycling is a suitable solution for managing metal scraps. The quality or quantity of metals is not changed even after high reuse. An upsurge in usage of metals in end-use industries hints to the reduction of natural metal resources. Metal recycling includes the usage of scrap or waste metal resources as raw material and transforms them into serviceable products. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. The growing income and expenditure capacity of a consumer in developing economies and increasing demand in many end-use sectors includes building & construction, metal fabrication, electronics, medical & health care equipment, automotive, and packaging are expected to drive the growth of the global metal recycling market. The stringent laws relating to waste management & recycling, growing awareness of the effective use of natural resources, and request for recycled metal are expected to boom the global metal recycling market. Furthermore, fast emerging country, such as India do not have stringent rules concerning recycling of metal which is expected to hamper the growth of the metal recycling market. Additionally, this is projected to change as these countries develop and industrialization, and the demand for the cost-effective metal is estimated to offer metal recycling market expansion opportunities. The objective of the report is to present a comprehensive assessment of the global metal recycling market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global metal recycling market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment. Metal scraps are classified into two categories one is ferrous that are made of iron and its compounds and another is non-ferrous that contains all other recyclable metals other than iron. Ferrous metal is expected to share significant growth in the global metal recycling market during the forecast period. Steel is one of the furthermost recycled metals. Ferrous metals consist of iron and steel are used expansively in numerous industries includes automobiles, appliances, construction, and packaging. Ferrous metals are metals, which have iron and magnetic properties. Iron and steel scrap are some of the extensively recycled metals across the globe. This scrap originates from end-of-life products and wastes generated by manufacturing processes. Nearly about 40% of iron and steel products are mass-produced from a scrap of ferrous metals. Automotive is projected to share momentous growth in the global metal recycling market during the forecast period. This is the highly lucrative application segment of the recycled metal market. The Automotive industry is expected to experience an exceptional growth rate during the forecast period. The increasing use of recycled metal in the automotive industry is projected to increase expressively owing to the low cost and low energy elaborate in the production of secondary metals. Geographically, Asia Pacific is expected to lead the global metal recycling market. The region’s leading position is predominantly owing to the existence of developing economies who are beholding rapid economic development. The region includes a high population which contributes considerably to the rising consumption of metal items and the governments of developing economies are growing imposing strict regulations with concerns to environmental protection and waste management. Japan is the wildest growing country in this region and is a substantial consumer of aluminium and ferrous scrap.