Recycled Metal Market Size And Forecast
Recycled Metal Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow moderately in the forecasted period i.e. 2020 to 2027.
The Global Recycled Metal Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Recycled Metal Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
What is Recycled Metal?
Recycling of metals refers to the process of recovering and reprocessing of waste metals to make it fit for use into manufacturing new products. Recycling helps in reducing the quantity of solid waste which is ultimately deposited in the landfills and helps to reduce the carbon footprint by reducing the pollution by efficient utilization of the resources. Most of the metals like steel allow for recycling without any degradation in properties and performance and hence it has high usability unlike plastic wherein the performance reduces after recycling.
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Global Recycled Metal Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
According to the report by Steel Recycling Institute, steel has 95% recycling rate in automobiles, 88% in appliances and 70% in steel packaging. The increasing population rise in the standard of living and increase in the disposable income has led to increase in the urbanization and industrialization. It has in turn boosts the demand for construction of industries, households and other architectures. Iron and Steel are used extensively in construction industry which boosts the demand directly by the consumption of these metals as metal. Due to this, there is a rise in the demand for recycled iron and steel and other ferrous metals which are used in construction like steel rods, pipes, ducts, cisterns, HVAC applications etc. The rise in industrialization increase the demand for heavy machineries for manufacturing different parts that are manufactured from most of the ferrous and non-ferrous metals. The significant rise in the electronics industry further increases the demand for various metals which are used in the appliances.
The increasing demand for mobility has led to the growth of the automobile sector and has boosted the demand for various metals that are used in the manufacturing of automobiles. The use of virgin metals in all these industries leads to the creation of a large amount of scrap and metal waste which if untreated goes into land as landfills polluting soil, air and water. Due to this, there is a large demand for recycled metals as they retain all the properties and performance after recycling and reduce the ever increasing demand for virgin metals which are to be extracted from ores which ultimately leads to increasing carbon footprint from the industries processing these metals through its complete value chain. The metals can be recycled a number of times which helps to reduce the waste generated and ensures maximum utilization of the resources. Governments in many countries are incentivizing recycling of metal waste for its use on other products which has helped in the growth o metal recycling industries. These factors combinedly augment the growth of the recycled metal market.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Recycled Metal Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Global Recycled Metal Market Competitive Landscape
The “Global Recycled Metal Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as ArcelorMittal, Nucor Corporation, Commercial Metals Company, Sims Metal Management Limited, Aurubis AG, Steel Dynamics, Novelis, European Metal Recycling, ELG HanielGmbh, Schnitzer Steel. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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Recycled Metal Market, By Equipment
• Granulating Machines
• Briquetting Machines
• Shears
• Shredders
Recycled Metal Market, By Scrap Type
• Old Scrap
• New Scrap
Recycled Metal Market, By Type
• Ferrous
• Non-Ferrous
Recycled Metal Market, By Application
• Building & Construction
• Automotive
• Equipment Manufacturing
• Shipbuilding
• Packaging
• Consumer Appliances
• Others
Recycled Metal Market, By Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
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