Scrap Metal Recycling Market Analysis, Type, Size, Trends, Key Players and Forecast 2016 to 2030

The Global Scrap Metal Recycling market is poised to amplify at a CAGR of 6% over 2022-2030, thereby amassing a valuation of USD 516.4 billion by end of the assessment timeline.

In order to use scrap metal as a new source of raw materials for goods, it must first be separated, cleaned, and melted. Metal is a material that can be recycled numerous times without degrading in any way from its original properties. In addition to environmental benefits, recycling metal has financial ones. Since scrap metals have a high monetary value, there is a constant need for high-quality, sorted scrap metals for recycling.

Global Scrap Metal Recycling Market– Overview

Metal recycling is referred to as the reprocessing of scrap metal into valuable products. The process is generally carried out to reduce greenhouse gas emission, manage energy consumption, and also to conserve natural resources.

The metal recycling is defined as the process of taking waste metal, processing it and creating a new material from it. The recycled metal can then be used to make products that includes, bar, ropes, and poles.

The metals are used in various industry verticals including building and construction, packaging, automotive, industrial machinery, and also shipbuilding industry.

The rising urbanization and rising industrialization has resulted in rapid development of the economies that has boosted the demand for global metal recycling market over the forecast period.

Request to Download Sample of This Strategic Report :-https://wemarketresearch.com/sample-request/scrap-metal-recycling-market/245/

Segmental analysis of the Market

Based on Metal Type

• Ferrous Metal
• Non-Ferrous Metal

The ferrous metal segment has dominated the market growth over the forecast period.

Based on Scrap Type

• Old Scrap
• New Scrap

The new scrap segment has dominated the market growth over the forecast period.

Based on End Users

• Building & Construction
• Packaging
• Automotive
• Industrial Machinery
• Electronics & Electrical Equipment
• Shipbuilding

The automotive segment has dominated the market growth over the forecast period.

Asia Pacific is anticipated to amplify at a considerable CAGR

The global scrap metal recycling market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, Middle east and Africa. Among these, Asia Pacific has dominated the market growth over the forecast period. This is because it has the largest revenue share of the market.

Competitive Landscape

Some of the prominent companies operating in the market are ArcelorMittal, Nucor Corporation, Commercial Metals Company, SIMS Metal Management Limited, Aurubis AG, European Metal Recycling Limited, Tata Steel, Dowa Holdings Co., Ltd., OmniSource Corporation, and Schnitzer Steel Industries Inc.

Buy Now this Premium Report to Grow your Business:  https://wemarketresearch.com/purchase/scrap-metal-recycling-market/245/?license=single 

Major questions answered in this report

• What is the growth rate of the global scrap metal recycling market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?

Key takeaways from the report

• The global scrap metal recycling market is projected to expand at a CAGR of 6% over the forecast period.
• The rise in urbanization and industrialization is aiding market progression.
• The automotive segment is poised to expand significantly over the forecast period.
• Asia Pacific has dominated the regional market sphere over the forecast period.