Global Recycled Metal Market by Product (Aluminum, Steel, Copper) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global recycled metal demand was estimated at 7787.5 million tonnes in 2018. It is expected to rise at a compound annual rate (CAGR), of 4.1% between 2019 and 2025. Market growth is driven by an increasing emphasis on secondary production due to environmental concerns like energy consumption and scrap disposal.

Metal recycling is important because metals can easily be recycled multiple times without any modifications to their properties. Scrap metal is a valuable raw material for secondary production.

Product Insights

The market can be segmented based on its product: Steel, Aluminum, Copper, and Other. Steel is the most widely recycled metal in the world. In 2018, it was the biggest market share in global recycled metals. Over the forecast period, there will be an increase in demand for steel products in the construction, automotive and electronics industries.

Manufacturers have chosen to use the Electric Arc Furnace process (EAF) over the Basic Oxygen Furnace process (BOF) because of the following factors: the consumption of non-renewable energy, the fluctuation in raw materials prices and regulations regarding mining ores. The result has been a rise in demand for recycled steel around the globe. In 2018, crude steel production by the EAF process increased 10.1%, while total crude steel production rose 7.04%.

In 2018, aluminum was the second most recycled metal segment on the global market. Aluminum is a valuable scrap material and is widely consumed. Due to the increasing demand for aluminum in the automotive and consumer goods sectors, the demand is expected to rise rapidly. This is good news for the market for recycled aluminum, as it means that there will be more aluminum produced.

Secondary production of aluminum is becoming more popular than primary because it saves 90% energy. To produce 1 ton of aluminum, scrap aluminum makes up more than 90% of the raw material.

Regional Insights

The North American market for recycled metal will grow at 4.5% in terms of revenue over the forecast period. There are many scrap dealers and recycling facilities in the region, which has helped to increase the demand for recycled metal. The EAF process is the most popular method of producing steel in America. The United States is also the country that produces the most secondary aluminum. The market for recycled metal is expected to grow due to the high demand of these metals in the construction, automotive and consumer goods sectors.

In 2018, Europe accounted for the second largest market share. The region is a major consumer of scrap metal. Recycled steel and copper are major commodities in the region. Copper is a significant metal due to its high recycling rate and use in many end-use industries. The International Copper Study Group estimates that around half of the copper used in Europe is recycled.

A World Steel Association report for 2019 states that Europe produced 210.1 Million Tons of crude steel in 2018. 46.7% of this was produced through the EAF process. The EU-28 consumed more than 93 million tonnes of steel scrap in 2017 for crude steel production. This is more than 5.6% higher than the 2016 consumption. The European steel packaging industry is a major one. According to APEAL, 79.5% was recycled in Europe as of 2016. This percentage is expected increase to 80% by 2020. Market growth is expected to be boosted by the increasing consumption of copper and recycled steel over the forecast period.

The Asia Pacific market for recycled metal will grow at a 4.6% CAGR in volume over the forecast period. The market is growing due to a greater emphasis on environmental issues and better waste management. India is a huge market for recycled metal. India's growing manufacturing sector is driving high metal production and a high demand for scrap. The country is the second largest importer of scrap in August 2019, despite being one of the most scrap-producing countries. The government has therefore developed policies to promote and encourage metal recycling. On June 28, 2019, the Draft Steel Scrap Policy was adopted to increase steel production in the country to 300 million tonnes by 2030. The EAF process has a 35% to 40% share. These government initiatives around the globe are expected to have a positive effect on the growth and development of the global market.

Market Share Insights & Key Companies

Global market is fragmented and unorganized. CMC, European Metal Recycling and Norsk Hydro ASA are some of the major players in recycled metal. Novelis, Tata Steel, GFG Alliances, Novelis and GFG Alliances are also key players. There are many small and large players in the market, as well as growing demand for scrap and regulations that have encouraged new players and established players to explore new markets and seek out opportunities for business growth.

Tata Steel, for example, announced in June 2019 that it would set up India's first recycled plant in Haryana. This initiative is intended to give Tata Steel an advantage in India's market. The following are some of the most prominent players in the market for recycled metal:

• CMC

• European Metal Recycling

• Norsk Hydro ASA

• GFG Alliances

• Novelis

• Tata Steel

Up Market Research published a new report titled “Recycled Metal Market research report which is segmented by Product (Aluminum, Steel, Copper), By Players/Companies European Metal Recycling, Tata Steel, GFG Alliances, Novelis, Norsk Hydro ASA, CMC”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Recycled Metal Market Report Segments:

The market is segmented by Product (Aluminum, Steel, Copper).

Recycled Metal Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Recycled Metal Market

Overview of the regional outlook of the Recycled Metal Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Recycled Metal Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Recycled Metal Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Aluminum

                2. Steel

                3. Copper

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Recycled Metal Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Recycled Metal Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.