Metal Recycling Market Insights 2021-2030 | Hits to Reach $368.7 Billion

Metal recycling helps prevent the future scarcity of valuable resources, creates economic benefits, reduces greenhouse gas emissions, and mitigates other forms of environmental harm.

The global metal recycling market size was $217.0 billion in 2020 and is expected to reach $368.7 billion by 2030, registering a CAGR of 5.2% from 2021 to 2030. In 2020, Asia-Pacific region dominated the global metal recycling market accounting for 45.5% share of the market. Metal recycling refers to reprocessing of metal waste into ferrous and non-ferrous metals to reduce greenhouse gas emission levels, to preserve natural resources, and manage energy consumption.

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Top Impacting Factors:
As a result, governments have introduced various initiatives to promote metal waste recycling. For example, Japan's Home Appliance Recycling Law requires consumers to return appliances like refrigerators, air conditioners, and washing machines to retailers or old traders for recycling.

The ols metal market is divided into ferrous and non-ferrous metals, with sources including automobiles, railroad tracks, ships, household appliances, and consumer electronics. Ferrous metal, in particular, is the fastest-growing segment and is expected to expand at a CAGR of 7.4% by 2030. According to the European Aluminum Foil Association (EAFA), the recycling rate of aluminum closures in Europe has surpassed 50%, thanks to effective collection and recycling programs.

Regional Analysis:

Region-wise, the market analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific region generated the highest revenue in 2020.

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Top Players:
The key players profiled in the global metal recycling market include ArcelorMittal, Nucor Corporation, Commercial Metals Company, SIMS Metal Management Limited, Aurubis AG, European Metal Recycling Limited, Tata Steel, Dowa Holdings Co., Ltd., OmniSource Corporation, and Schnitzer Steel Industries Inc.

Key Findings Of The Study
The report provides an extensive analysis of the current and emerging global metal recycling market trends and dynamics.
By metal type, the ferrous segment dominated the market, in terms of revenue in 2020.
By end user, the automotive segment is projected to register the highest growth rate in the coming years.
The report provides an extensive analysis of the trends and emerging opportunities of the market.
In depth, the global metal recycling market analysis is conducted by constructing estimations for the key segments between 2020 and 2030.

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