North America Recycled Metal Market Size & Outlook
North America Recycled Metal Market, 2018-2030 (US$M)
Global Market
Related Markets
North America recycled metal market highlights
- The North America recycled metal market generated a revenue of USD 45.5 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.
- Aluminum is the most lucrative material segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 45.5 million |
| Market revenue in 2030 | USD 65.3 million |
| Growth rate | 5.3% (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, North America region accounted for 12.6% 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 North America was recorded at USD 22.7 trillion in 2022. The growth of the automotive industry and the demolition of existing buildings and infrastructures in the region are considered drivers for scrap generation in North America.
The region is observing increased demand for steel production. In North America, old scrap is generated from automotive and airplane recycling and demolished buildings and infrastructures. The region has robust automotive and airplane manufacturing industries.
The growth of the automotive industry in North America can be attributed to the surging demand for vehicles in the region owing to increasing emphasis on personal vehicle transportation. As the life of an automobile is around 12 years, the number of end-of-life vehicles is high in North 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 |
North 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 45.05% in 2023.
Horizon Databook has segmented the North America 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 North America was recorded at USD 22.7 trillion in 2022. The growth of the automotive industry and the demolition of existing buildings and infrastructures in the region are considered drivers for scrap generation in North America.
The region is observing increased demand for steel production. In North America, old scrap is generated from automotive and airplane recycling and demolished buildings and infrastructures. The region has robust automotive and airplane manufacturing industries.
The growth of the automotive industry in North America can be attributed to the surging demand for vehicles in the region owing to increasing emphasis on personal vehicle transportation. As the life of an automobile is around 12 years, the number of end-of-life vehicles is high in North America.
- North 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 North America Recycled Metal Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into North America Recycled Metal Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
North America Recycled Metal Market, 2018-2030 (US$M)
North America recycled metal market statistics, by material, 2018-2030 (US$M)
