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Scrap Metal Recycling Market, By Metal Type, By Source, By Application, By Geography
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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.

Report Coverage Report Details
Base Year: 2023 Market Size in 2024: US$ 60.22 Bn
Historical Data for: 2019 To 2023 Forecast Period: 2024 To 2031
Forecast Period 2024 to 2031 CAGR: 5.50% 2031 Value Projection: US$ 87.45 Bn
Figure. Scrap Metal Recycling Market Share (%), By Region 2024
Scrap Metal Recycling Market - IMG1

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

1. Research Objectives and Assumptions

2. Market Purview

3. Market Dynamics, Regulations, and Trends Analysis

4. Global Scrap Metal Recycling Market, By Metal Type, 2019-2031, (USD Bn)

5. Global Scrap Metal Recycling Market, By Source, 2019-2031, (USD Bn)

6. Global Scrap Metal Recycling Market, By Application, 2019-2031, (USD Bn)

7. Global Scrap Metal Recycling Market, By Region, 2019 - 2031, Value (USD Bn)

8. Competitive Landscape

9. Analyst Recommendations

10. References and Research Methodology

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