U.K. Recycled Metal Market Size & Outlook, 2023-2030
U.K. Recycled Metal Market, 2018-2030 (US$M)
Global Market
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UK recycled metal market highlights
- The UK recycled metal market generated a revenue of USD 1.5 million in 2023 and is expected to reach USD 2.2 million by 2030.
- The UK market is expected to grow at a CAGR of 5.4% 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 1.5 million |
| Market revenue in 2030 | USD 2.2 million |
| Growth rate | 5.4% (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, UK 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 Europe, Russia recycled metal market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 18.9 million by 2030.
In the UK, metal scrap is generated from end-of-life automotive, demolished buildings and infrastructures, electronic equipment, and consumer durables. Automotive parts such as engine blocks, gearbox housings, wheels, and engine mounts are made of aluminum.
As automotive production in the UK has been growing, the total number of on-road vehicles has been increasing in the country. This surging number of old vehicles is contributing to air pollution. As the life of the vehicles is limited, the requirement for vehicle recycling is high in the UK.
This has led the government of the country to undertake initiatives such as the formulation of the vehicle scrappage policy for promoting automotive recycling in the UK. In August 2023, the Mayor of London funded a USD 173.2 million scrappage scheme to provide financial assistance to individuals to send their vehicles for recycling at scrap yards.
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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 |
U.K. 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 33.33% in 2023.
Horizon Databook has segmented the U.K. recycled metal market based on steel, aluminum, copper covering the revenue growth of each sub-segment from 2018 to 2030.
In the UK, metal scrap is generated from end-of-life automotive, demolished buildings and infrastructures, electronic equipment, and consumer durables. Automotive parts such as engine blocks, gearbox housings, wheels, and engine mounts are made of aluminum.
As automotive production in the UK has been growing, the total number of on-road vehicles has been increasing in the country. This surging number of old vehicles is contributing to air pollution. As the life of the vehicles is limited, the requirement for vehicle recycling is high in the UK.
This has led the government of the country to undertake initiatives such as the formulation of the vehicle scrappage policy for promoting automotive recycling in the UK. In August 2023, the Mayor of London funded a USD 173.2 million scrappage scheme to provide financial assistance to individuals to send their vehicles for recycling at scrap yards.
- U.K. 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 U.K. Recycled Metal Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into U.K. Recycled Metal Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
U.K. Recycled Metal Market, 2018-2030 (US$M)
UK recycled metal market statistics, by material, 2018-2030 (US$M)
