According to the recent study the metal recycling market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 5% to 7% from 2023 to 2028. Growth in this market is primarily driven by increase urbanization and industrialization across the globe, increasing consumer awareness regarding depleting metal reserves and growing demand for steel.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in metal recycling market by metal type (ferrous metal and non-ferrous metal), scrap type (old scrap and new scrap), end use industry (building and construction, automotive, packaging, shipbuilding, electronics and electrical equipment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
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“Ferrous metal market is expected to remain the largest segment during the forecast period.”
Based on metal type, the metal recycling market is segmented into ferrous metal and non-ferrous metal. Lucintel forecasts that the ferrous metal market is expected to remain the largest segment due to because the iron and steel scraps are widely recycled ferrous metals used in the world, and large-scale utilization of metals in the construction, automotive, and consumer goods industries.
“Within the metal recycling market, the building and construction segment is expected to remain the largest end use industry”
Based on end use industry the building and construction segment is expected to witness the highest growth over the forecast period due to because of considerable demand for steel and aluminum from the global construction industry, and rising urbanization due to increasing disposable income levels in the emerging economies.
“Asia pacific will dominate the metal recycling market in near future”
APAC will remain the largest region due to increasing economic development and population rising labor force, increasing urbanization and rapid industrialization, and high metal production within the region.
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Major players of metal recycling market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Nucor, Commercial Metals, Aurubis AG, Arcelormittal, SMIS Metal Management, European Metal Recycling, Tata Steel, Baosteel, Remondis, Dowa Holdings are among the major metal recycling providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/metal-recycling-market.aspx or [email protected]