Europe Recycled Metal Market Size & Outlook, 2023-2030
Europe Recycled Metal Market, 2018-2030 (US$M)
Global Market
Related Markets
Europe recycled metal market highlights
- The Europe recycled metal market generated a revenue of USD 78.7 million in 2023.
- The market is expected to grow at a CAGR of 5.8% from 2024 to 2030.
- In terms of segment, steel was the largest revenue generating material in 2023.
- Aluminum is the most lucrative material segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 78.7 million |
| Market revenue in 2030 | USD 116.6 million |
| Growth rate | 5.8% (CAGR from 2023 to 2030) |
| Largest segment | Steel |
| Fastest growing segment | Aluminum |
| 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, Europe region accounted for 21.8% 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 data, the GDP of Europe was recorded at USD 14.14 trillion in 2022, witnessing a drop of 3.4% in the same year. Surged emphasis on sustainable steel manufacturing, carbon footprint reduction, and electric arc furnace adoption in the region is driving the growth of the market in Europe.
The increased scrap generation in the region is propelled by the circular economy initiatives adopted by its countries. As per the European Steel Association (EUROFER), production, use, and recycling of steel follow a circular pattern in the region, with steel products returning to the cycle once their service life has ended. Steel manufactured in Europe is produced from scrap steel.
Approximately 56% of the total steel produced in the European Union is from scrap and approximately 100 million tons of scrap steel gets recycled every year in the region. Hence, sustainability management and efforts to reduce the carbon footprint are important drivers contributing to the demand for scrap in Europe.
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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 |
Europe 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 49.56% in 2023.
Horizon Databook has segmented the Europe 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 data, the GDP of Europe was recorded at USD 14.14 trillion in 2022, witnessing a drop of 3.4% in the same year. Surged emphasis on sustainable steel manufacturing, carbon footprint reduction, and electric arc furnace adoption in the region is driving the growth of the market in Europe.
The increased scrap generation in the region is propelled by the circular economy initiatives adopted by its countries. As per the European Steel Association (EUROFER), production, use, and recycling of steel follow a circular pattern in the region, with steel products returning to the cycle once their service life has ended. Steel manufactured in Europe is produced from scrap steel.
Approximately 56% of the total steel produced in the European Union is from scrap and approximately 100 million tons of scrap steel gets recycled every year in the region. Hence, sustainability management and efforts to reduce the carbon footprint are important drivers contributing to the demand for scrap in Europe.
- Europe 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 Europe Recycled Metal Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Europe Recycled Metal Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Europe Recycled Metal Market, 2018-2030 (US$M)
Europe recycled metal market statistics, by material, 2018-2030 (US$M)
