Global Metal Recycling Market Size & Outlook, 2023-2030
Global metal recycling market, 2018-2030 (US$M)
Related Markets
Global metal recycling market highlights
- The global metal recycling market generated a revenue of USD 850,040.4 million in 2023 and is expected to reach USD 1,135,279.1 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 4.2% by 2030.
- In terms of segment, aluminum accounted for a revenue of USD 476,214.4 million in 2023.
- Steel is the most lucrative metal segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Russia is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 850,040.4 million |
| Market revenue in 2030 | USD 1,135,279.1 million |
| Growth rate | 4.2% (CAGR from 2023 to 2030) |
| Largest segment | Aluminum |
| Fastest growing segment | Steel |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Steel, Copper, Aluminum, Other Metals |
Other key industry trends
- In terms of revenue, the North America accounted for 14.3% of the global metal recycling market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Russia is the fastest growing regional market and is projected to reach USD 13,408.9 million by 2030.
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Metal Recycling Market Scope
Metal Recycling Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global metal recycling market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to metal recycling market will help companies and investors design strategic landscapes.
Aluminum was the largest segment with a revenue share of 56.02% in 2023. Horizon Databook has segmented the Global metal recycling market based on steel, copper, aluminum, other metals covering the revenue growth of each sub-segment from 2018 to 2030.
Growing concerns pertaining to depletion of non-renewable resources coupled with high manufacturing cost of primary metals has augmented the demand for metal recycling. Emergence of modern technologies have proved to be quite effective in terms of identifying different kinds of metals, especially ferrous.
Growing demand for scrap has compelled scrap yards to install technologically advanced and sophisticated recycling equipment. For instance, large recycling facilities these days have installed sensors to identify metals through infra-red scanning and x-ray. Considering the benefits of recycling, manufacturers are opting for secondary metal production processes for cost effective and environmental-friendly manufacturing.
Steel is the largest product segment of the metal recycling market. Steel can be manufactured through two processes, basic oxygen furnace and electric arc furnace. Steel manufactured in an electric arc furnace uses scrap as its key raw material. Growing benefits of metal recycling has augmented the production of steel through electric arc furnace. Below chart indicates the growth of crude steel production in electric arc furnace.
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Our clientele includes a mix of metal recycling market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global metal recycling market , including forecasts for subscribers. This global databook contains high-level insights into Global metal recycling market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global metal recycling market size, by regions, 2018-2030 (US$M)
Top 10 countries: Metal recycling market size, 2023 (US$M)
Global metal recycling market share, by metal, 2023 & 2030 (%, US$M)
Metal recycling market: Opportunity assessment by country
Global metal recycling market, by region, 2023 (US$M)
Related regional statistics
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