Latin America Recycled Metal Market Size & Outlook
Latin America Recycled Metal Market, 2018-2030 (US$M)
Global Market
Related Markets
Latin America recycled metal market highlights
- The Latin America recycled metal market generated a revenue of USD 12.3 million in 2023.
- The market is expected to grow at a CAGR of 4.5% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 12.3 million |
| Market revenue in 2030 | USD 16.7 million |
| Growth rate | 4.5% (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, Latin America region accounted for 3.4% 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.
Growth in the adoption of electric arc furnaces (EAFs) for crude metal manufacturing and increasing emphasis on circular economy practices are considered important drivers for the market. The adoption of EAFs is driving Central and South America's scrap metal market, offering a sustainable and cost-effective alternative to traditional steelmaking methods.
This shift responds to the region's economic advantage with the availability of scrap metal at affordable rates. As industrialization and urbanization increase, the demand for steel is expected to rise, and EAFs will efficiently meet this demand without contributing to carbon emissions.
Therefore, factors such as EAF-driven demand, thriving scrap collection industry, and favorable global scrap market dynamics are expected to cumulatively impact the recycled metal market landscape of Central and South America.
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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 |
Latin America 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 41.46% in 2023.
Horizon Databook has segmented the Latin America recycled metal market based on steel, aluminum, copper covering the revenue growth of each sub-segment from 2018 to 2030.
Growth in the adoption of electric arc furnaces (EAFs) for crude metal manufacturing and increasing emphasis on circular economy practices are considered important drivers for the market. The adoption of EAFs is driving Central and South America's scrap metal market, offering a sustainable and cost-effective alternative to traditional steelmaking methods.
This shift responds to the region's economic advantage with the availability of scrap metal at affordable rates. As industrialization and urbanization increase, the demand for steel is expected to rise, and EAFs will efficiently meet this demand without contributing to carbon emissions.
Therefore, factors such as EAF-driven demand, thriving scrap collection industry, and favorable global scrap market dynamics are expected to cumulatively impact the recycled metal market landscape of Central and South America.
- Latin America 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 Latin America Recycled Metal Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Latin America Recycled Metal Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Latin America Recycled Metal Market, 2018-2030 (US$M)
Latin America recycled metal market statistics, by material, 2018-2030 (US$M)
