India Recycled Metal Market Size & Outlook, 2023-2030
India Recycled Metal Market, 2018-2030 (US$M)
Global Market
Related Markets
India recycled metal market highlights
- The India recycled metal market generated a revenue of USD 28.9 million in 2023 and is expected to reach USD 38.0 million by 2030.
- The India market is expected to grow at a CAGR of 4% 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.
Recycled metal market data book summary
| Market revenue in 2023 | USD 28.9 million |
| Market revenue in 2030 | USD 38.0 million |
| Growth rate | 4% (CAGR from 2023 to 2030) |
| Largest segment | Steel |
| Fastest growing segment | Copper |
| 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, India accounted for 8.0% 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 Asia Pacific, China recycled metal market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 197.0 million by 2030.
According to the World Bank data, the GDP of India observed a growth of 7.2% in 2022 and stood at USD 3.42 trillion in the same year. The presence of favorable government policies related to old vehicle scrappage and the increased emphasis on sustainable steel production in the country drive the growth of the market in India.
As per the statistics published by the International Organization for Motor Vehicle Manufacturers, the total number of automotive sold in India remained at 4.7 million in 2022. The automotive sales in the country showed a growth of 25.7% and 23.8% in 2021 and 2022, respectively.
This growth can be attributed to growth in urbanization and transport needs. Due to this surge in the number of automotive cars in the country, it has been facing pollution and road safety problems. In March 2021, the Ministry of Road Transport and Highways of India introduced a Voluntary Vehicle Fleet Modernization Program (V-VMP) to create an ecosystem for removing unfit and polluting vehicles from roads 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 |
India 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 84.43% in 2023.
Horizon Databook has segmented the India 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 India observed a growth of 7.2% in 2022 and stood at USD 3.42 trillion in the same year. The presence of favorable government policies related to old vehicle scrappage and the increased emphasis on sustainable steel production in the country drive the growth of the market in India.
As per the statistics published by the International Organization for Motor Vehicle Manufacturers, the total number of automotive sold in India remained at 4.7 million in 2022. The automotive sales in the country showed a growth of 25.7% and 23.8% in 2021 and 2022, respectively.
This growth can be attributed to growth in urbanization and transport needs. Due to this surge in the number of automotive cars in the country, it has been facing pollution and road safety problems. In March 2021, the Ministry of Road Transport and Highways of India introduced a Voluntary Vehicle Fleet Modernization Program (V-VMP) to create an ecosystem for removing unfit and polluting vehicles from roads in the country.
- India 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 India Recycled Metal Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into India Recycled Metal Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
India Recycled Metal Market, 2018-2030 (US$M)
India recycled metal market statistics, by material, 2018-2030 (US$M)
