SCRAP METAL RECYCLING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Takeaways from Analyst

The market is expected to experience steady growth over the next five years driven by rising prices of scrap metals and growing environmental concerns. As production and consumption of metals continue to increase globally, recycling scrap metal provides a sustainable and economically viable option to procure raw materials. Asia Pacific currently dominates the market due to stringent government regulations promoting recycling. However, North America is projected to be the fastest growing region with the U.S. and Canada leading demand as their infrastructure development gathers momentum.

While landfill restrictions and recycling mandates will boost collection volumes, fluctuations in scrap prices pose a major challenge to profitability. Trade conflicts and tariffs could also negatively impact supply chains. On the supply side, consolidating recycling operations and improving scrap sorting technology offers opportunities to gain operational efficiencies. Advanced metal treatments can facilitate higher scrap grade production. Furthermore, the market sees opportunities from urban mining as demolitions of old buildings and infrastructure open up new scrap sources. Collaboration with secondary smelters and alloy producers provides avenues to streamline recycling processes.