Metal Recycling Market Analysis: Growth, Size, Share & Future Trends (2024-2029) 

The market report offers a detailed analysis segmented by Metal Type (Ferrous Metal, Non-Ferrous Metal); by Scrap Type (Old Scrap, New Scrap); by End User (Building & Construction, Packaging, Automotive, Industrial Machinery, Electronics & Electrical Equipment, Shipbuilding, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Outlook 

• The metal recycling market is estimated to be at USD 279.37 Bn in 2024 and is anticipated to reach USD 360.18 Bn in 2029. 

• The metal recycling market is registering a CAGR of 5.21% during the forecast period of 2024-2029. 

• The global metal recycling market’s growth is driven by increased environmental awareness, stringent regulations, and the rising demand for recycled metals in various industries, including automotive, construction, and manufacturing. 

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Ecosystem  

• The participants in the global metal recycling industry lead the market with extensive operations, advanced technologies, and strategic acquisitions. 

• These companies primarily invest in technology to improve efficiency and output quality, along with strategic acquisitions to expand their capabilities globally and maintain a competitive edge in the market. 

• Several important entities in the metal recycling market include ArcelorMittal Group; Nucor Corp.; Commercial Metals Co.; Aurubis AG; Tata Sons Pvt. Ltd.; and others. 

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Findings 

Attributes	Values
Historical Period	2018-2022
Base Year	2023
Forecast Period	2024-2029
Market Size (2024)	USD 279.37 Bn
Market Size (2029)	USD 360.18 Bn
Growth Rate	5.21% CAGR from 2024 to 2029
Key Segments	Metal Type (Ferrous Metal, Non-Ferrous Metal); Scrap Type (Old Scrap, New Scrap); End User (Building & Construction, Packaging, Automotive, Industrial Machinery, Electronics & Electrical Equipment, Shipbuilding, Others); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors	ArcelorMittal Group; Nucor Corp.; Commercial Metals Co.; Aurubis AG; Tata Sons Pvt. Ltd.
Key Countries	The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa
Largest Market	Asia Pacific

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Trends  

• Adoption of Advanced Sorting Technologies: The metal recycling industry is increasingly adopting advanced sorting technologies like AI-powered sensors and robotics. In 2023, Tomra Sorting Solutions introduced an AI-based sorting system that significantly improved the efficiency and accuracy of metal separation processes. 

• Focus on Circular Economy: Governments and companies are emphasizing circular economy practices, aiming to reduce waste and promote recycling. In 2023, the European Union launched a new circular economy action plan that prioritizes metal recycling as a key component in achieving sustainability goals. 

• Emphasis on Urban Mining: Urban mining, the process of recovering metals from electronic waste and other urban sources, is gaining traction. In 2023, Umicore, a Belgian materials technology company, expanded its urban mining operations to extract valuable metals from e-waste, highlighting the trend towards resource recovery. 

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Catalysts 

• Stringent Environmental Regulations: Government regulations aimed at reducing environmental impact are driving the demand for metal recycling. In 2023, China’s National Sword policy continued to restrict the import of waste, leading to an increase in domestic metal recycling initiatives to meet industrial demand. 

• Demand for Sustainable Materials: The increasing demand for sustainable and eco-friendly materials in various industries is a major driver. In 2023, Tesla announced plans to incorporate more recycled metals in its vehicle production, aligning with its sustainability goals and driving demand in the metal recycling market. 

• Cost-effectiveness of Recycled Metals: Recycled metals are often more cost-effective than virgin metals, providing significant savings for manufacturers. In 2023, ArcelorMittal, a leading steel producer, reported a 15% cost reduction in its operations by using recycled steel, emphasizing the economic benefits of metal recycling. 

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Restraints 

• Fluctuations in Raw Material Prices: The metal recycling industry is sensitive to fluctuations in raw material prices, which can impact profitability. In 2023, the price of scrap steel dropped by 10%, creating challenges for recyclers like ABC Metals, who struggled to maintain profit margins. 

• Lack of Standardization in Recycling Process: The lack of standardization in recycling processes across different regions can lead to inefficiencies and lower-quality output. In 2023, EFG Recycling reported difficulties in maintaining consistent quality due to varying regulations and practices in different countries, affecting their export potential. 

• Competition from Virgin Metals: Competition from the production of virgin metals remains a challenge, especially when raw material prices are low. In 2023, Rio Tinto expanded its production of virgin aluminum, putting pressure on the recycled aluminum market and highlighting the competitive dynamics between recycled and virgin metal producers. 

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Table of Contents 

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global Metal Recycling Market (2018 – 2022)         2.2.    Global Metal Recycling Market (2023 – 2029)  3.       Market Segmentation         3.1.    Global Metal Recycling Market by Metal Type                3.1.1.    Ferrous Metal                3.1.2.    Non-Ferrous Metal         3.2.    Global Metal Recycling Market by Scrap Type                3.2.1.    Old Scrap                3.2.2.    New Scrap         3.3.    Global Metal Recycling Market by End User                3.3.1.    Building & Construction                3.3.2.    Packaging                3.3.3.    Automotive                3.3.4.    Industrial Machinery                3.3.5.    Electronics & Electrical Equipment                3.3.6.    Shipbuilding                3.3.7.    Others  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Chile                4.2.5.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    Italy                4.4.4.    France                4.4.5.    Spain                4.4.6.    Rest of Europe         4.5.    The Middle East                4.5.1.    Turkey                4.5.2.    UAE                4.5.3.    Saudi Arabia                4.5.4.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global Metal Recycling Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    ArcelorMittal Group         9.2.    Nucor Corp.         9.3.    Commercial Metals Co.         9.4.    Aurubis AG         9.5.    Tata Sons Pvt. Ltd.         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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Metal Recycling Market – FAQs 

1.  What is the current size of the metal recycling market? 

Ans. In 2024, the metal recycling market size is USD 279.37 Bn. 

2.  Who are the major vendors in the metal recycling market?  

Ans. The major vendors in the metal recycling market are ArcelorMittal Group; Nucor Corp.; Commercial Metals Co.; Aurubis AG; Tata Sons Pvt. Ltd. 

3.  Which segments are covered under the metal recycling market segments analysis?  

Ans. The metal recycling market report offers in-depth insights into Metal Type, Scrap Type, End User, and Geography.