Metal Recycling Market Competitive Landscape, Growth Factors, Revenue Analysis, 2023–2030

According to a recent report by Reports and Data, the global metal recycling market had a size of USD 229.12 Billion in 2021, and is anticipated to have a revenue CAGR of 5.3% throughout the forecast period. Metal recycling refers to the process of transforming unwanted metal into valuable items, which can be done repeatedly without losing its original characteristics.

Due to increased recognition of the importance of metal recycling, there has been a growing amount of scrap metal being processed in recent years. Technical advancements and enhanced collection efforts have resulted in a rise in metal recycling, particularly of aluminium and steel.

As per the study, the demand for metal raw materials is expected to increase in the coming years. To cater to industrial demand, the production of aluminium alone will require 360 million metric tonnes of raw material in the next two decades. The availability of light metals like aluminium is crucial for the growth of industries such as the Electric Vehicle (EV) sector.

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Companies profiled in the market report include Nucor Corporation, Norsk Hydro ASA, Kimmel Scrap Iron & Metal Co., Inc., Schnitzer Steel Industries, Inc., European Metal Recycling Ltd., Sims Limited, Tata Steel, Aurubis AG, TOTALL Metal Recycling, Inc., and Commercial Metals Company (CMC).

In addition, recycling metals is becoming more crucial due to climate change concerns, and it also provides significant economic opportunities. Recycling rare metals from electronic waste, for instance, is thirteen times less expensive than mining for them, according to the American Chemical Society. The market's revenue is being driven by rising demand for metals in different end-use sectors such as automotive, construction, and electronics.

The worldwide metal recycling market is segregated into two categories: ferrous and non-ferrous. The ferrous category is expected to account for the largest revenue share during the forecast period due to growing demand for ferrous metals in industries such as automotive, construction, and electronics. Ferrous metals like iron and steel can be recycled internally as well as externally. The Asia Pacific market is the largest revenue contributor to the global metal recycling market, owing to increased adoption of metal recycling in industries such as construction and automotive in countries like China, Japan, and India.

In recent news, Schnitzer Steel acquired eight metals recycling facilities from Columbus Recycling, which is a leading provider of ferrous and nonferrous metal recycling products and services in various Southeastern states like Mississippi, Tennessee, and Kentucky. Furthermore, the company recently announced the restart of operations at its Cascade Steel Rolling Mills in McMinnville, Oregon.

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For the purpose of this report, Reports and Data has segmented the global metal recycling industry into Type Outlook, Equipment Outlook, Scrap Outlook, Application Outlook, Regional Outlook:

Type Outlook (Revenue, USD Billion; 2019-2030)

• Ferrous
• Non-Ferrous

Application Outlook (Revenue, USD Billion; 2019-2030)

• Automotive
• Packaging
• Building and Construction
• Shipbuilding
• Equipment Manufacturing
• Consumer Appliance
• Others

Equipment Outlook (Revenue, USD Billion; 2019-2030)

• Shears
• Shredders
• Briquetting Machines
• Granulating Machines
• Others

Scrap Outlook (Revenue, USD Billion; 2019-2030)

• Old Scrap
• New Scrap

Regional Outlook (Revenue, USD Billion; 2019-2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Sweden
• BENELUX
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Israel
• Rest of MEA

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