Thailand Recycled Metal Market Size & Outlook, 2023-2030
Thailand Recycled Metal Market, 2018-2030 (US$M)
Global Market
Related Markets
Thailand recycled metal market highlights
- The Thailand recycled metal market generated a revenue of USD 1.4 million in 2023 and is expected to reach USD 1.8 million by 2030.
- The Thailand market is expected to grow at a CAGR of 3.3% 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.
Recycled metal market data book summary
| Market revenue in 2023 | USD 1.4 million |
| Market revenue in 2030 | USD 1.8 million |
| Growth rate | 3.3% (CAGR from 2023 to 2030) |
| Largest segment | Steel |
| 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, Thailand accounted for 0.4% 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, the GDP of Thailand was at USD 495.4 billion in 2022. According to a 2022 report released by the International Organization for Motor Vehicle Manufacturers (OICA), the country witnessed a 12.0% increase in new automotive sales, with a total of 0.84 million units sold in the same year.
This increase in the number of new vehicles sold in the country can be attributed to the ongoing urbanization in Thailand that is expected to continue in the coming years as well. However, the surge in the number of new vehicles sold in the country has also resulted in a corresponding increase in pollution and road accidents, thereby highlighting the requirement for the scrappage of old vehicles in Thailand.
In addition, to reduce the import of metal scrap in the country, companies operating in the automotive scrappage industry of Thailand are expanding their automotive recycling operations. For instance, in July 2022, Suntech Recycle & Decarbon Co, which is a subsidiary of Millcon Steel Plc, announced its target to recycle 36,000 unwanted vehicles every month by 2023.
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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 |
Thailand 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 42.86% in 2023.
Horizon Databook has segmented the Thailand 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 Thailand was at USD 495.4 billion in 2022. According to a 2022 report released by the International Organization for Motor Vehicle Manufacturers (OICA), the country witnessed a 12.0% increase in new automotive sales, with a total of 0.84 million units sold in the same year.
This increase in the number of new vehicles sold in the country can be attributed to the ongoing urbanization in Thailand that is expected to continue in the coming years as well. However, the surge in the number of new vehicles sold in the country has also resulted in a corresponding increase in pollution and road accidents, thereby highlighting the requirement for the scrappage of old vehicles in Thailand.
In addition, to reduce the import of metal scrap in the country, companies operating in the automotive scrappage industry of Thailand are expanding their automotive recycling operations. For instance, in July 2022, Suntech Recycle & Decarbon Co, which is a subsidiary of Millcon Steel Plc, announced its target to recycle 36,000 unwanted vehicles every month by 2023.
- Thailand 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 Thailand Recycled Metal Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Thailand Recycled Metal Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Thailand Recycled Metal Market, 2018-2030 (US$M)
Thailand recycled metal market statistics, by material, 2018-2030 (US$M)
