Global Metal Recycling Market is valued approximately USD 52.10 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.14% over the forecast period 2020-2027.
Metal recycling is a system to recycle the used metals. It has a wide range of application in solving energy crises globally but also have varied number of applications in different end-use industries. Recycled metallic is also used in the manufacturing of green energy. The application of recycled metallic in exceptional sectors of enterprise have not directly affected the worldwide marketplace in a high-quality way. Whereas, the global pandemic of COVID-19 inversely affected the growth of market due to the announcement of lockdown in various economies which leads to the shut-down manufacturing units and factories coupled with attendance of employees in workplace to follow social distancing. The market is majorly anticipated to grow in forthcoming period due to the global rise in demand and production of green energy. For instance: as per Statista, Energy & Environmental services, the global renewable energy market was USD 927 billion in 2017 which is expected to grow with USD 1512.3 billion till 2025. In addition, stringent norms regarding recycle of metal by government across the globe is propelling the market growth. However, unorganized metal waste collection in developing economies is the factor hampering the market growth over the forecast years.
The regional analysis of global Metal Recycling Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing awareness programs for sustainable waste management practices. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such presence of stringent government norms regarding green energy
would create lucrative growth prospects for the Metal Recycling Market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Metal Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Metal Type:
By End-User Industries:
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