The global metal recycling market size is projected to grow from USD 52.1 billion in 2020 to USD 76.1 billion by 2025, at a CAGR of 7.8% 2020 to 2025. The market is projected to grow in accordance with the growth of various end-users of metal recycling across the globe. The increase in consumption of recycled metal in various end-use sectors, including building & construction, shipbuilding, equipment manufacturing, and consumer appliances, is expected to support market growth during the forecast period.
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The building & construction segment, by end-use sector, accounted for a larger market size for metal recycling in 2019, in terms of both value and volume. Manufacturing new metals is a complicated and conventional method for construction companies. Hence, companies prefer to convert old scrap metals into reusable new metals to expand their exponential turnover and meet the demand of the rapidly increasing global population. Thus the dominant market position of the building & construction sector is attributed to the exponential growth of construction activities happening globally.
The Asia Pacific region is projected to lead the metal recycling market, in terms of both value and volume, from 2020 to 2025. The development in the construction industry in emerging countries such as India and China is expected to boost the demand for recycled metal in the market. Furthermore, Asia Pacific is the hub of foreign investment and booming industrial sectors, largely due to the low-cost labor and cheap availability of land. This, in turn, increases the growth of construction activities, which boosts the demand for metal recycling in the region.
ArcelorMittal (Luxembourg), Nucor Corporation (US), Commercial Metals Company (US), Sims Metal Management Limited (US), and Aurubis AG (Germany) are the key players operating in the metal recycling market. Acquisitions and investments & expansions are some of the major strategies adopted by these key players to enhance their positions in the metal recycling market.
ArcelorMittal (Luxembourg) is a leading company in Europe and one of the world’s leading steel manufacturers. ArcelorMittal is considered to be the largest steel producer in America, Africa, and Europe In 2018, ArcelorMittal recycled 31 million tons of scrap steel, which included primary steel arising from the company’s operations and scrap that was purchased for use in the company’s furnaces. The use of scrap steel avoided 40 million tons of CO2 emissions. Their global R&D division is currently working with the Worldsteel Association on several recycling projects. Also, they have been collaborating with the automotive industry to analyze how much more value can be achieved by disassembling vehicles before they are shredded to recover scrap.
Nucor Corporation (US) manufactures steel and steel products; it also processes ferrous and nonferrous metals. Nucor is one of North America’s largest recycler, which uses scrap steel as the primary raw material in producing steel and steel products. The steel production of the company has increased by 9% from 22,619,000 tons in 2017 to 24,753,000 tons in 2018. However, the annual production capacity of the company grown from 120,000 tons in 1970 to a present total of over 27,000,000 tons. Nucor’s subsidiary, The David J. Joseph Company (DJJ) (US) and its affiliates operate six scrap recycling companies across the US and have a combined capability of processing approximately 5,000,000 tons of ferrous scrap annually. DJJ also operates 11 self-serve used auto parts store called U-Pull-&-Pay that complements its recycling operations.
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