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

Key Developments

• In April 2024, Brown Gibbons Lang & Co. (BGL), a prominent independent investment bank and financial advisory firm, announced the sale of Toledo Shredding LLC, a subsidiary of ProTrade Group headquartered in Ohio, U.S. to OmniSource LLC. OmniSource operates as the scrap processing division of Steel Dynamics Inc. ProTrade Group is a fully integrated company specializing in the recycling of ferrous and nonferrous metals.
• In 2023, Sims Ltd., an international leader in scrap metal and electronics recycling, revealed that it is conducting a strategic review that could result in the sale of its network of scrap yards across the U.K. This initiative aims to explore avenues for enhancing the performance of its U.K. Metals business and optimizing returns for shareholders.
• In 2023, Kuusakoski, a leading industrial recycling company, announced plans to establish a new composite shredding and treatment facility in Southern Finland. With an investment exceeding USD 4.33 million, partially funded by Business Finland, the plant will focus on processing composite waste for sustainable utilization in cement production.
• In 2022, ArcelorMittal, the world's leading integrated steel and mining company, acquired Riwald Recycling, a state-of-the-art ferrous scrap recycling operation in the Netherlands. In 2021, Riwald processed over 330,000 tons of ferrous scrap and managed two fully certified scrap yards. This acquisition, along with others, demonstrates ArcelorMittal's dedication to decarbonization, targeting a 35% reduction in CO2 emissions from European steel production by 2030.
• In 2022, American Iron & Metal (AIM), a Canada-based company, purchased a 50% stake in Kalischatarra, also known as Kalisch Recycling, a Mexico-based scrap recycling firm. The transaction was completed in August 2022, with Chiho Environmental Group Ltd., a Hong Kong-based company, announcing the sale later in December 2022.