Global Metal Recycling Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 7.81% through 2020 to 2026, reaching US$ XX Mn.
Global Metal recycling Market
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Metal recycling Market
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Global Metal Recycling Market Overview:
The development of the metal recycling market is attributed to the growing demand for steel & industrialization in emerging countries. Also, rising worries towards the reduction of natural resources at a fast rate have led governments of some nations to make favorable rules regarding the metal recycling industry, which is further pushing the metal recycling market.
The global metal recycling market is expected to have a boost during the forecast period. The growing urbanized population is the key reason which has driven the development of the global market. In addition to this, increased awareness about the significance of resource efficiency & waste management is also enhancing the growth of the metal recycling market.
On the other hand, the high cost of the manufacturing & recycling process is the main reason hampering the development of the metal recycling market. Moreover, high labor charges are also one of the significant causes which are restraining the growth of the market.
Scrap Metal Recovery Volumes & Recycling Rates:
In terms of volume, MMR expected that the US recycled 76Mn metric tons of ferrous metal was recycled in the U.S in 2019. The major source was provided by the 15Mnvehicles which were recycled. While the volume of ferrous metals recovered is much bigger, non-ferrous metals produce more industry revenue owing to their greater value, & as such are aggressively recycled. Recovered non-ferrous scrap, with aluminum, copper, lead, nickel, tin, zinc & others, was valued at $36Bn in 2015, generating a volume of 10Mn metric tons.
The Top Categories of Non-Ferrous Scrap Metal Recovery in 2017 Included:
• 7 million metric tons of aluminum
• 1.9 million metric tons of copper
• 1.4 million metric tons of lead
• 195,000 metric tons of zinc
• 632,000 metric tons of nickel/stainless steel
The recycling rate is a very significant degree in terms of landfill diversion. Scrap metal has been recycled for thousands of years as it has been long recognized as being a more effective process than mining & processing new metal. Recycling rates for metal are usually high, owing to its value. For instance, ferrous metals have a recovery rate as follows:
• for cars: 106%
• for appliances: 90%
• for steel cans: 66.8%
• for structural steel: 98%
• for reinforcement steel: 70%
Maintaining the recycling rate for main customer goods can be more challenging, like in the case of aluminum beverage containers. Overall, the recycling rate for aluminum cans is only 49.4% in the year 2018 down from 54.5% in 2017. In jurisdictions that have beverage container deposit laws, the recovery amount is much higher. For instance, in British Columbia, which has a 5% deposit, the recovery rate was 90.4 % in the year 2016
Strong development& industrialization rate in APAC& the MEA is expected to boost the construction industry, which will have a succeeding impact on metal demand during the forecast period. The county government is creating substantial investment in main construction plans mostly in India, UAE, Saudi Arabia & other developing countries.
According to the MMR study report, India has a requirement of investment worth USD 777.73 Bn in infrastructure by the year 2022 to achieve sustainable development in the nation. The above-stated trends are expected to drive metal demand & thus will trigger metal recycling, causing in driving the total recycled metal market size in the forecast period.
China plans to make a big investment of value USD 2.7 trillion in the transportation & infrastructure industry, which in turn will have an ensuing positive impact on metal demand & thereby likely to make a prominent contribution to the total recycled metal market size during the forecast period. Also, strict legislations formulated by the county regulatory bodies to enforce metal recycling in order to decreaseCO2 footprint will have an optimistic impact on the reprocessed metal market size during the forecast period.
For example, Chinese industry-standard SB/T 11049-2013 stated operation applies to scrap metal recycling companies. Also, GB 16487.2-13 standard states environment protection control standards for imported solid wastes as raw materials. These trends are expected to make a major positive effect on the total market size.
The report covers Old Scrap, and New Scrapwith detailed analysis Global Metal recycling Market industry with the classifications of the market on the Type, Scraptype, & region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players’ contribution in it.
The report has profiled twelve key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in five regions. The major country’s policies about manufacturing & COVID-19 impact on the demand-side are covered in the report.
Scope of the Global Metal Recycling Market: Inquire before buying
Global Metal recycling Market1
Global Metal Recycling Market, by Region
• North America:
o the US
o CIS countries
o Rest of Europe
o South Korea
o Rest of APAC
• Middle East & Africa
o GCC Countries
o South Africa
o Rest of MEA
• Latin America
o Rest of Latin America
Global Light Towers Market Key Players
• Nucor Corporation
• Sims Metal Management Limited
• DOWA HOLDINGS Co., Ltd.
• Aurubis AG
• Baosteel Group
• Tata Steel
• TOTALL Metal Recycling, Inc.
• European Metal Recycling
• Commercial Metals Company
• Schnitzer Steel Industries
• OmniSource Corporation
• Tube City Inc.
• Ferrous Processing and Trading Co.
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