SCRAP METAL RECYCLING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The global scrap metal recycling market is estimated to be valued at USD 60.22 Bn in 2024 and is expected to reach USD 87.45 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. Scrap metal recycling refers to reprocessing of scrap metals into new products to prevent waste and reduce the consumption of fresh raw materials.
Market Dynamics:
The global scrap metal recycling market is driven by the rising demand from construction and automotive industries. Rapid infrastructure growth and remodeling activities have increased the consumption of iron, steel, and aluminum globally which is predominantly met through recycling. Further, significant rise in automobile manufacturing and fleet has led to higher metal scrap generation. Meanwhile, stringent government regulations regarding waste management and sustainability goals to reduce carbon footprint are also pushing scrap metal recycling uptake across industries. However, presence of impurities, high processing costs, and inconsistent scrap supply remain key challenges. On the positive side, advancing sorting and purification technologies are helping recyclers to improve operational efficiencies.
Key Features of the Study:
- This report provides in-depth analysis of the global scrap metal recycling market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global scrap metal recycling market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Sims Metal Management, Nucor Corporation, Commercial Metals Company (CMC), Schnitzer Steel Industries, Inc., Steel Dynamics, Inc., European Metal Recycling Ltd., OmniSource Corporation, David J. Joseph Company (DJJ), Republic Services, Inc., Waste Management, Inc., Ferrous Processing & Trading, TMS International Corporation, KWS Environmental, and SA Recycling, LLC
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global scrap metal recycling market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global scrap metal recycling market
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Scrap Metal Recycling Market' - Global forecast to 2031
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