Canada Recycled Metal Market Size & Outlook, 2023-2030
Canada Recycled Metal Market, 2018-2030 (US$M)
Global Market
Related Markets
Canada recycled metal market highlights
- The Canada recycled metal market generated a revenue of USD 7.0 million in 2023 and is expected to reach USD 10.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 6.3% from 2024 to 2030.
- In terms of segment, aluminum was the largest revenue generating material in 2023.
- Aluminum is the most lucrative material segment registering the fastest growth during the forecast period.
Recycled metal market data book summary
| Market revenue in 2023 | USD 7.0 million |
| Market revenue in 2030 | USD 10.7 million |
| Growth rate | 6.3% (CAGR from 2023 to 2030) |
| Largest segment | Aluminum |
| Fastest growing segment | Aluminum |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 1.9% of the global recycled metal market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. recycled metal market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 10.7 million by 2030.
According to the report published by world bank, the GDP of Canada was USD 1.75 trillion in 2022, recording a deceleration in growth by 3.4% in the same year. Growth in the automotive industry and construction demolition is considered an important driver for scrap generation.
In Canada, scrap is produced from the demolition of buildings and infrastructures, as well as from endof-life consumer durables and vehicles. This scrap is segregated and sent for recycling. The financial post in December 2022 reported that 11 million tons of metal gets recycled in Canada on an annual basis.
This indicates the high production of scrap in the country. According to a report published by the International Trade Administration (ITA) in November 2023, Canada is the second-largest automotive market in North America with most global vehicle manufacturers having their presence in the country.
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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 |
Canada 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.
Aluminum was the largest segment with a revenue share of 60.0% in 2023.
Horizon Databook has segmented the Canada recycled metal market based on steel, aluminum, copper covering the revenue growth of each sub-segment from 2018 to 2030.
According to the report published by world bank, the GDP of Canada was USD 1.75 trillion in 2022, recording a deceleration in growth by 3.4% in the same year. Growth in the automotive industry and construction demolition is considered an important driver for scrap generation.
In Canada, scrap is produced from the demolition of buildings and infrastructures, as well as from endof-life consumer durables and vehicles. This scrap is segregated and sent for recycling. The financial post in December 2022 reported that 11 million tons of metal gets recycled in Canada on an annual basis.
This indicates the high production of scrap in the country. According to a report published by the International Trade Administration (ITA) in November 2023, Canada is the second-largest automotive market in North America with most global vehicle manufacturers having their presence in the country.
- Canada 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 country-level data and insights on the Canada Recycled Metal Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Canada Recycled Metal Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Canada Recycled Metal Market, 2018-2030 (US$M)
Canada recycled metal market statistics, by material, 2018-2030 (US$M)
