New York – October 31, 2023 - Research Nester’s recent market research analysis on “Metal Recycling Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global Metal Recycling market in terms of market segmentation by product, scrap type, industry, and by region.

Growing Concern for the Green House Gas Emission to Promote Global Market Share of Metal Recycling
The market is expected to rise due to the increasing need for metals in various applications and the increasing scarcity of rare earth metals. According to calculations, in the next five years, over 70% of respondents in the automotive sector will see a shortage of metal. Conversely, the chemical and infrastructure sectors will see shortages of roughly 77% and 81%, respectively.

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In addition to this, reprocessing of metal waste has been more popular over the past 20 years due to decreased greenhouse gas emissions and efficient energy management, both of which are significant factors anticipated to propel market expansion in the near future. For instance, the net greenhouse gas emissions from human activities increased by 43% between 1990 and 2020. Emissions of carbon dioxide, which account for about three-fourths of all emissions, increased by 51% during that period.

Some of the major growth factors and challenges that are associated with the growth of the global Metal Recycling market are:

Growth Drivers:
• Surge in Urbanization and Industrialization
• Rising Government Initiatives
Challenges:
The problem of safety is one of the main obstacles in commercial Metal Recycling. Managing substantial quantities of metal may be exceedingly hazardous, therefore it's critical for businesses to implement appropriate safety measures to safeguard both their employees and the environment. Strict safety protocols, such as frequent training and safety audits, are also in place to ensure that staff members are adequately prepared to manage the hazards inherent in this line of work. Unorganized flow of waste metals and rise in import duties are some of the major factors anticipated to hamper the global market size of Metal Recycling.

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By product, the global Metal Recycling market is segmented into aluminium, copper, iron and steel. The aluminium segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. Recycling aluminium is becoming more popular than recycling other metals since it is less harmful to the environment because it uses less energy and emits fewer greenhouse gases. Reusing aluminium helps lower greenhouse gas emissions since it uses 95% less energy than making new aluminium from raw materials. Additional recycling of aluminium is economical since it uses less energy, which lowers production costs. Furthermore, because aluminium is used in so many different industries, including packaging, transportation, and building, demand for metal is rising. Aluminium recycling makes it possible to satisfy this need without using up natural resources. As a result, there has been a notable increase in aluminium recycling in recent years due to a growing understanding of the advantages of recycling aluminium as well as economic and environmental factors.

By region, the North America Metal Recycling market is to generate the highest revenue by the end of 2036. Over the course of the projected period, it is expected that the North American market would rise steadily. The region's market is expected to grow as a result of rising trends towards decreasing metal waste and carbon footprint, particularly in the United States and Canada, and rising metal demand from the automotive sector.
This report also provides the existing competitive scenario of some of the key players of the global Metal Recycling market which includes company profiling of ArcelorMittal S.A., Norsk Hydro ASA, Kimmel Scrap Iron & Metal Co., Inc., Schnitzer Steel Industries, Inc., OmniSource Corporation, Nucor Corporation, Aurubis AG, and others.

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