Asia Pacific Recycled Metal Market Size & Outlook, 2023-2030
Asia Pacific Recycled Metal Market, 2018-2030 (US$M)
Global Market
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Asia Pacific recycled metal market highlights
- The Asia Pacific recycled metal market generated a revenue of USD 203.9 million in 2023.
- The market is expected to grow at a CAGR of 5.3% from 2024 to 2030.
- In terms of segment, steel was the largest revenue generating material in 2023.
- Copper is the most lucrative material segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 203.9 million |
| Market revenue in 2030 | USD 293.6 million |
| Growth rate | 5.3% (CAGR from 2023 to 2030) |
| Largest segment | Steel |
| Fastest growing segment | Copper |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Steel, Aluminum, Copper |
| Key market players worldwide | Commercial Metals Co, Norsk Hydro ASA, Tata Steel Ltd GDR - 144A, European Metal Recycling, GFG Alliance, Novelis |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 56.5% of the global recycled metal market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 116.6 million by 2030.
According to the World Bank, the GDP of Asia Pacific remained at USD 30.69 trillion in 2022. Favorable government policies to reduce end-of-life vehicles (ELVs), rise in demolition of existing buildings and infrastructures, and surge in e-waste generation act as drivers for scrap generation in the region.
End-of-life vehicles (ELVs) sent to scrap yards are an important source for metal scrap generation in Asia Pacific. According to the white paper published by the International Council on Clean Transportation (ICCT) in January 2022, age-based taxes and scrappage programs in Japan, Thailand, and Singapore are important policies for the automotive industry in these countries.
These measures aim to incentivize the retirement of old vehicles and promote the phasing out of cars with outdated technologies. The objective of these policies is to replace old vehicle fleets with new low-emission vehicles, thereby reducing their overall carbon footprint.
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Recycled Metal Market Scope
Recycled Metal Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Commercial Metals Co | View profile | 13,022 | 6565 North MacArthur Boulevard, Irving, TX, United States, 75039 | www.cmc.com |
| Norsk Hydro ASA | View profile | 32,724 | Drammensveien 264, Oslo, Norway, NO-0283 | www.hydro.com |
| Tata Steel Ltd GDR - 144A | View profile | 73,496 | 24 Homi Mody Street, Bombay House, Fort, Mumbai, MH, India, 400 001 | www.tatasteel.com |
| Novelis | View profile | 10001+ | Atlanta, Georgia, United States, North America | novelis.com |
| European Metal Recycling | View profile | 1001-5000 | Warrington, Warrington, United Kingdom, Europe | www.emrgroup.com/ |
| GFG Alliance | View profile | 10001+ | London, England, United Kingdom, Europe | www.gfgalliance.com |
Asia Pacific Recycled Metal 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 Recycled Metal Market Outlook will help companies and investors design strategic landscapes.
Steel was the largest segment with a revenue share of 62.78% in 2023.
Horizon Databook has segmented the Asia Pacific recycled metal market based on steel, aluminum, copper covering the revenue growth of each sub-segment from 2018 to 2030.
According to the World Bank, the GDP of Asia Pacific remained at USD 30.69 trillion in 2022. Favorable government policies to reduce end-of-life vehicles (ELVs), rise in demolition of existing buildings and infrastructures, and surge in e-waste generation act as drivers for scrap generation in the region.
End-of-life vehicles (ELVs) sent to scrap yards are an important source for metal scrap generation in Asia Pacific. According to the white paper published by the International Council on Clean Transportation (ICCT) in January 2022, age-based taxes and scrappage programs in Japan, Thailand, and Singapore are important policies for the automotive industry in these countries.
These measures aim to incentivize the retirement of old vehicles and promote the phasing out of cars with outdated technologies. The objective of these policies is to replace old vehicle fleets with new low-emission vehicles, thereby reducing their overall carbon footprint.
- Asia Pacific Recycled Metal Market Material Outlook (Revenue, USD MIllion , 2018-2030)
- Steel
- Aluminum
- Copper
- Others
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific Recycled Metal Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific Recycled Metal Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Asia Pacific Recycled Metal Market, 2018-2030 (US$M)
Asia Pacific recycled metal market statistics, by material, 2018-2030 (US$M)
