March 28, 2023

The scrap metal recycling market size is anticipated to rise due to the growing need for waste management and recycling infrastructure globally. Furthermore, the governments enforce policies that promote metal recycling in various industrial sectors. Metals such as aluminum can be recycled many times and can be used to produce a variety of consumer products such as packaging. Furthermore, it can be utilized to make a range of consumer goods, including packaging. Fortune Business InsightsTM has presented this information in its upcoming report titled, “Scrap Metal Recycling, 2022-2030”.

COVID-19 Impact –

COVID-19’s near-unprecedented disruptions to global economic activity had an adverse impact on the building and demolition industries. Scrap metal shipments were halted as a result of COVID-19, and many plants around the world were forced to close due to the limitations. The scrap metal market had to deal with unexpected disruptions as well, and those changes spread throughout the supply chain.

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Segmentation –

On the basis of type, the market is bifurcated into non-ferrous and ferrous. On the basis of end-user, the market is fragmented into consumer appliances, automotive equipment manufacturing, building & construction, packaging, and others. Geographically, the market is classified into Asia Pacific, Latin America, Europe, North America, and the Middle East & Africa.

Report Coverage –

The report delivers an in-depth analysis of the market, including the current trends, drivers, restraints, and potential for growth. Furthermore, the report highlights the regional scrap metal recycling market growth and several strategies adopted by prominent players to gain a leading edge in the industry. Additionally, the report consists of the cumulative impact of COVID-19 in the market.

Drivers & Restraints –

High Demand for Recycling Metal Scrap and Waste Management to Drive Market Growth

The growing demand for waste management and recycling infrastructure around the world is driving the industry. As a result of government mandates in numerous industries, scrap metal recycling is becoming more widespread to the energy required for virgin metal fabrication; recycling scrap metals saves a significant amount of energy. Recycling one ton of steel, for example, can save 2500, 1400, and 120 pounds of coal, limestone, and iron ore, respectively.

However, in most emerging economies, a lack of suitable recycling infrastructure is hindering market expansion.

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Regional Insights –

Asia Pacific to Hold a Large Share of the Market Due to the Growth of Scarp Products and Favorable Government Policies

Asia Pacific to hold a sizable portion of the global scrap metal recycling market share due to increased scrap products production, inclusive of favorable government policies, are likely to boost regional recycling demand.

Europe accounts for the second-biggest market share globally.The reason being the consumer demand for automobiles and construction is higher in industrialized countries like Germany, the U.K., France, and others.

Aluminum manufacturing and imports in North America are rapidly expanding, especially in the U.S., the reason being steel scrap and recycled iron utilized in the creation of new steel and cast iron products are mostly produced in the region. The region’s ongoing rise in metals has piqued the interest of investors in scrap metal recycling.

Due to a scarcity of scrap, countries in the Middle East & Africa, such as South Africa and the United Arab Emirates, have imposed restrictions on the export of scrap metal, bolstering the domestic metal recycling sector. Furthermore, companies in Latin America are becoming more aware of scrap metal recycling and aiming to reduce energy consumption in the near future.

Competitive Analysis-           

Key Players to Adopt Organic and Inorganic Strategies to Acquire Competitive Advantage

Metal recycling is a competitive market, and vendors use organic and inorganic growth tactics to acquire a competitive advantage. Metal recycling has changed the dynamics at many points throughout the value chain. Manufacturers, for example, might use recycling capabilities to obtain necessary raw materials for rapidly expanding production capacities without compromising their qualities. Metal recycling efficiently tackles one of the most significant problems of metal and metal product users, namely, the costs.

For instance, in May 2020, Aurubis AG purchased Metallo, a scrap metal recycling company. This purchase was made to increase the company’s metal scrap manufacturing capability. It will also most likely assist Aurubis AG in expanding its global market penetration in metal recycling.

Industry Developments –

October 2020: ArcelorMittal and Triple M merged to become Integrated Metal Recycling Inc. In this joint venture, many of the recycling programs of the two partners in Quebec will be integrated. As a result of this cooperation, the scrap metal recycling business’ revenue is predicted to improve.

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List of Key Players in the Market:

  • ArcelorMittal
  • Aurubis AG
  • Kuusakoski Oy
  • Nucor Corporation
  • AIM Recyclage Inc.
  • Sims Limited
  • Omnisource Corporation
  • Metallon Recycling Pte Ltd
  • DBW Metals Recycling
  • TKC Metal Recycling Inc.


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