Metal Recycling Market by Type (Ferrous Metals, Non-Ferrous Metals), Scrap Type (Old Scrap, New Scrap), Equipment Used (Shredder, Shear, Granulation Machine, Briquetting Machine), End-Use Industry, and Region - Global Forecast to 2029
The metal recycling market size is estimated to be USD 551.9 billion in 2024, and it is projected to reach USD 767.9 billion by 2029 at a CAGR of 6.8%. The rising demand for consumer electronics is significantly driving the growth of the metal recycling market. As the production and consumption of devices such as smartphones, laptops, tablets, and household appliances increase, so does the generation of electronic waste (e-waste). These devices contain valuable metals like copper, aluminum, gold, and silver, which can be recovered and recycled. Recycling metals from e-waste is crucial for conserving natural resources and reducing the environmental impact of mining and processing new metals. The high turnover rate of consumer electronics, due to rapid technological advancements and the frequent release of new models, creates a constant supply of obsolete devices ready for recycling. Governments and environmental organizations are enforcing stricter regulations and promoting initiatives to manage e-waste, encouraging recycling practices among both consumers and manufacturers. This regulatory support, along with growing environmental awareness among consumers, is boosting the metal recycling market. Thus, the increasing demand for consumer electronics leads to more e-waste, driving the need for efficient recycling processes to recover valuable metals. This trend supports the growth of the metal recycling market by ensuring a steady supply of recyclable materials and promoting sustainable practices in the electronics industry.
Scope of the Report
Years Considered for the Study
2019-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Million), Volume (Million Ton)
Segments
Type, Scrap Type, Equipment Used, End-use Industry, and Region
Regions covered
North America, Asia Pacific, Europe, South America, and Middle East & Africa
"By Type, Non-Ferrous Metals Segment Accounted for the Second Highest CAGR During the Forecast Period."
Non-ferrous metals are metals that do not contain significant amounts of iron, making them more malleable, lighter, and resistant to corrosion compared to ferrous metals. Common non-ferrous metals include aluminum, copper, lead, zinc, tin, nickel, and precious metals like gold and silver. Non-ferrous metals have a wide range of applications. Aluminum is used in aircraft, automotive parts, packaging, construction materials, and consumer electronics. Copper is essential for electrical wiring, plumbing, roofing, and industrial machinery. Lead finds use in batteries, radiation shielding, and certain types of glass and ceramics. Zinc is used for galvanizing steel, in alloys like brass, and in die-casting for automotive and electrical industries. Tin is commonly used in solder for electronics, as a coating for steel cans, and in various alloys. Nickel is utilized in stainless steel production, batteries (particularly for electric vehicles), and superalloys for aerospace applications. Gold and silver are prized for jewelry, electronics due to their excellent conductivity, medical devices, and as investment commodities. These properties make non-ferrous metals indispensable in modern technology, infrastructure, and manufacturing.
"By End-Use Industry, Equipment manufacturing End-Use Industry Segment Accounted For The Third Highest CAGR During the Forecast Period."
Several factors contribute to the expansion of the equipment manufacturing end-use industry within the metal recycling market. There is a growing emphasis on sustainability and environmental awareness among equipment manufacturers. Utilizing recycled metals in manufacturing aligns with these principles, offering a more eco-friendly alternative to virgin materials. Recycling metals often proves more economical than sourcing new materials, leading to savings in raw material procurement, production, and waste disposal costs for manufacturers. Advancements in recycling technologies improve the quality and availability of recycled metals, making them increasingly viable for manufacturing high-quality equipment. Innovations in sorting, shredding, and purification processes enable the recovery of pure metals with properties comparable to virgin materials. Regulatory initiatives and government policies promoting recycling and circular economy principles incentivize equipment manufacturers to integrate recycled metals into their production processes. Consumer preferences for eco-friendly products influence equipment manufacturers to prioritize sustainability. Using recycled metals allows manufacturers to meet these expectations, enhancing their brand reputation and market competitiveness. Thus, the growth of the equipment manufacturing industry within the metal recycling market is driven by sustainability concerns, cost-effectiveness, technological advancements, regulatory incentives, and consumer demand for eco-friendly products. These factors collectively contribute to the increasing adoption of recycled metals in equipment manufacturing, fostering a more sustainable industrial ecosystem.
"North America is accounted third larget market for Metal recycling in 2023."
The North America region is accounted third larget in the Metal recycling market. This growth encompasses countries like US, Canada, and Mexico.
The North American metal recycling market experiences growth and development influenced by various drivers, trends, and factors. Stringent environmental regulations and sustainability initiatives push industries to adopt recycling practices, aiming to minimize waste and preserve resources. The region's robust industrial sector generates significant amounts of metal scrap, ensuring a steady supply for recycling processes. Technological advancements in recycling technologies enhance efficiency and promote the utilization of recycled metals across various applications. Economic factors, including cost-effectiveness and the increasing demand for sustainable products, further stimulate the growth of the metal recycling market in North America.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the Metal recycling market.
By Company Type: Tier 1: 40%, Tier 2: 25%, and Tier 3: 35%
By Designation: C Level: 35%, Director Level: 30%, and Others: 35%
By Region: North America: 25%, Europe: 20%, APAC: 45%, Middle East & Africa: 5%, and South America: 5%
Companies Covered: The global Metal recycling market comprises major manufacturers, such as ArcelorMittal (Luxembourg), Nucor (US), CMC (US), Sims Limited (Australia), Aurubis AG (Germany), Dowa Holdings Co., Ltd. (Japan), Tata Steel (India), Radius Recycling, Inc. (US), European Metal Recycling Ltd. (UK), and Upstate Shredding - Weitsman Recycling (US), among others.
Research Coverage
The market study covers the metal recycling market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, scrap type, end-use industry, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the metal recycling market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall metal recycling market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (Growth of automotive industry, Increasing demand for consumer electronics, and Urbanization and infrastructure development), restraints (Disorganized metal waste collection in developing countries), opportunities (Recovering metals from slag residue) and challenges (Growing complexity of products poses challenges to recycling efforts).
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the metal recycling market
Market Development: Comprehensive information about lucrative markets - the report analyses the metal recycling market across varied regions
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Metal recycling market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like ArcelorMittal (Luxembourg), Nucor (US), CMC (US), Sims Limited (Australia), Aurubis AG (Germany), Dowa Holdings Co., Ltd. (Japan), Tata Steel (India), Radius Recycling, Inc. (US), European Metal Recycling Ltd. (UK), and Upstate Shredding - Weitsman Recycling (US), among others in the metal recycling market. The report also helps stakeholders understand the pulse of the Metal recycling market and provides them with information on key market drivers, restraints, challenges, and opportunities.
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH, BY METAL TYPE
2.2.1.2 Approach 2 (Based on scrap type)
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY, BY SCRAP TYPE
2.3 DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION: METAL RECYCLING MARKET
2.4 FACTOR ANALYSIS
2.5 IMPACT OF RECESSION
2.6 RESEARCH ASSUMPTIONS
2.7 RESEARCH LIMITATIONS
2.8 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
FIGURE 7 FERROUS METAL SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
FIGURE 8 OLD SCRAP SEGMENT TO WITNESS HIGHER GROWTH RATE DURING FORECAST PERIOD
FIGURE 9 BUILDING & CONSTRUCTION TO BE LARGEST END-USE INDUSTRY OF METAL RECYCLING
FIGURE 10 ASIA PACIFIC TO LEAD METAL RECYCLING MARKET
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN METAL RECYCLING MARKET
FIGURE 11 EMERGING ECONOMIES OFFER ATTRACTIVE OPPORTUNITIES IN METAL RECYCLING MARKET
4.2 ASIA PACIFIC: METAL RECYCLING MARKET, BY TYPE AND COUNTRY
FIGURE 12 CHINA DOMINATED METAL RECYCLING MARKET IN 2023
4.3 METAL RECYCLING MARKET, BY TYPE
FIGURE 13 FERROUS METALS SEGMENT TO LEAD OVERALL MARKET DURING FORECAST PERIOD
4.4 METAL RECYCLING MARKET, BY SCRAP TYPE
FIGURE 14 OLD SCRAP TO REGISTER HIGHER GROWTH RATE DURING FORECAST PERIOD
4.5 METAL RECYCLING MARKET, BY END-USE INDUSTRY
FIGURE 15 BUILDING & CONSTRUCTION TO LEAD METAL RECYCLING MARKET
4.6 METAL RECYCLING MARKET, BY COUNTRY
FIGURE 16 CHINA PROJECTED TO REGISTER HIGHEST CAGR FROM 2024 TO 2029
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 17 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN METAL RECYCLING MARKET
5.2.1 DRIVERS
5.2.1.1 Growing demand from automotive, consumer electronics, and construction industries
FIGURE 18 GLOBAL VEHICLE PRODUCTION IN 2022 (THOUSAND UNITS)
FIGURE 19 GLOBAL ELECTRIC VEHICLE SALES, 2019-2023 (UNITS)
TABLE 1 POPULATION AND URBANIZATION, BY REGION, 2021-2050 (MILLION)
TABLE 2 POPULATION GROWTH, BY REGION, 2022-2050 (MILLION)
5.2.1.2 Expansion of steel industry
TABLE 3 GLOBAL CRUDE STEEL PRODUCTION, 2019-2023 (MILLION TONNES)
TABLE 4 USE OF RECYCLED STEEL FOR STEELMAKING IN KEY COUNTRIES/ REGIONS (MILLION TONNES)
5.2.1.3 Implementation of stringent regulations
5.2.2 RESTRAINTS
5.2.2.1 Unorganized metal waste collection in developing countries
5.2.3 OPPORTUNITIES
5.2.3.1 Establishment of net-zero emission targets
5.2.3.2 Recovery of metals from slag residue
5.2.4 CHALLENGES
5.2.4.1 Growing complexity of products
6 INDUSTRY TRENDS
6.1 PORTER'S FIVE FORCES ANALYSIS
FIGURE 20 PORTER'S FIVE FORCES ANALYSIS: METAL RECYCLING MARKET
TABLE 5 METAL RECYCLING MARKET: PORTER'S FIVE FORCES ANALYSIS
6.1.1 THREAT OF NEW ENTRANTS
6.1.2 THREAT OF SUBSTITUTES
6.1.3 BARGAINING POWER OF SUPPLIERS
6.1.4 BARGAINING POWER OF BUYERS
6.1.5 INTENSITY OF COMPETITIVE RIVALRY
6.2 VALUE CHAIN ANALYSIS
FIGURE 21 METAL RECYCLING MARKET: VALUE CHAIN ANALYSIS
6.3 TRADE DATA ANALYSIS
6.3.1 EXPORT SCENARIO OF METAL RECYCLING MARKET
FIGURE 22 EXPORT OF FERROUS WASTE AND SCRAP; REMELTING SCRAP INGOTS OF IRON OR STEEL (EXCL. SLAG, SCALE, AND OTHER WASTE FROM THE PRODUCTION OF IRON OR STEEL; RADIOACTIVE WASTE AND SCRAP; FRAGMENTS OF PIGS, BLOCKS OR OTHER PRIMARY FORMS OF PIG IRON OR SPIEGELEISEN), BY KEY COUNTRIES, 2018-2022
6.3.2 IMPORT SCENARIO OF METAL RECYCLING MARKET
FIGURE 23 IMPORT OF FERROUS WASTE AND SCRAP; REMELTING SCRAP INGOTS OF IRON OR STEEL (EXCL. SLAG, SCALE, AND OTHER WASTE FROM THE PRODUCTION OF IRON OR STEEL; RADIOACTIVE WASTE AND SCRAP; FRAGMENTS OF PIGS, BLOCKS OR OTHER PRIMARY FORMS OF PIG IRON OR SPIEGELEISEN, BY KEY COUNTRIES, 2018-2022
6.4 MACROECONOMIC OVERVIEW
6.4.1 GLOBAL GDP OUTLOOK
TABLE 6 WORLD GDP GROWTH PROJECTION, 2019-2026 (USD BILLION)
6.5 TECHNOLOGY ANALYSIS
6.5.1 KEY TECHNOLOGIES
6.5.1.1 Electric arc furnace (EAF)
6.5.1.2 Shredding and sorting technologies
6.5.2 COMPLEMENTARY TECHNOLOGIES
6.5.2.1 Hydrometallurgical process
6.5.2.2 Pyrometallurgical process
6.6 TARIFF AND REGULATORY LANDSCAPE
6.6.1 TARIFF RELATED TO METAL RECYCLING MARKET
TABLE 7 AVERAGE TARIFF, BY COUNTRY
6.6.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 8 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MnM view, Key strengths, Strategic choices, Weaknesses and competitive threats might not be captured in case of unlisted companies.
13.2 OTHER PLAYERS
13.2.1 TOTALL METAL RECYCLING, INC.
13.2.2 AMERICAN IRON & METAL
13.2.3 TOM MARTIN & COMPANY LTD.
13.2.4 KUUSAKOSKI RECYCLING
13.2.5 REMONDIS SE & CO. KG
13.2.6 CHIHO ENVIRONMENTAL GROUP LIMITED
13.2.7 METAL EXCHANGE CORPORATION
13.2.8 FERROUS PROCESSING & TRADING
13.2.9 SA RECYCLING LLC
13.2.10 TMS INTERNATIONAL
13.2.11 HUGO NEU CORPORATION
13.2.12 COHEN
13.2.13 OMNISOURCE, LLC
13.2.14 METALICO, INC.
13.2.15 ALTER TRADING
14 ADJACENT & RELATED MARKET
14.1 INTRODUCTION
14.2 LIMITATIONS
14.2.1 SOLAR PANEL RECYCLING MARKET
14.2.1.1 Market definition
14.2.1.2 Solar panel recycling market, by process
TABLE 370 SOLAR PANEL RECYCLING MARKET, BY PROCESS, 2020-2023 (USD MILLION)
TABLE 371 SOLAR PANEL RECYCLING MARKET, BY PROCESS, 2024-2029 (USD MILLION)
14.2.1.3 Solar panel recycling market, by material
TABLE 372 SOLAR PANEL RECYCLING MARKET, BY MATERIAL, 2020-2023 (USD MILLION)
TABLE 373 SOLAR PANEL RECYCLING MARKET, BY MATERIAL, 2024-2029 (USD MILLION)
14.2.1.4 Solar panel recycling market, by shelf life
TABLE 374 SOLAR PANEL RECYCLING MARKET, BY SHELF LIFE, 2020-2023 (USD MILLION)
TABLE 375 SOLAR PANEL RECYCLING MARKET, BY SHELF LIFE, 2024-2029 (USD MILLION)
14.2.1.5 Solar panel recycling market, by type
TABLE 376 SOLAR PANEL RECYCLING MARKET, BY TYPE, 2020-2023 (USD MILLION)
TABLE 377 SOLAR PANEL RECYCLING MARKET, BY TYPE, 2024-2029 (USD MILLION)
TABLE 378 SOLAR PANEL RECYCLING MARKET, BY TYPE, 2020-2023 (MILLION PANELS)
TABLE 379 SOLAR PANEL RECYCLING MARKET, BY TYPE, 2024-2029 (MILLION PANELS)
14.2.1.6 Solar panel recycling market, by region
TABLE 380 SOLAR PANEL RECYCLING MARKET, BY REGION, 2020-2023 (USD MILLION)
TABLE 381 SOLAR PANEL RECYCLING MARKET, BY REGION, 2024-2029 (USD MILLION)
TABLE 382 SOLAR PANEL RECYCLING MARKET, BY REGION, 2020-2023 (MILLION PANELS)
TABLE 383 SOLAR PANEL RECYCLING MARKET, BY REGION, 2024-2029 (MILLION PANELS)
14.2.2 RARE EARTH METALS RECYCLING MARKET
14.2.2.1 Market definition
14.2.2.2 Rare earth metals recycling market, by application