U.S. Recycled Metal Market Size & Outlook, 2023-2030
U.S. Recycled Metal Market, 2018-2030 (US$M)
Global Market
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U.S. recycled metal market highlights
- The U.S. recycled metal market generated a revenue of USD 30.7 million in 2023 and is expected to reach USD 43.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 5.2% 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 30.7 million |
| Market revenue in 2030 | USD 43.6 million |
| Growth rate | 5.2% (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, U.S. accounted for 8.5% 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 North America, U.S. recycled metal market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 10.7 million by 2030.
According to the report published by the World bank, the GDP of the U.S. stood at USD 20.9 trillion in 2022. The total net FDIs in the country remained at USD 38.17 billion. The growth of the automotive industry and the increase in building and infrastructure demolition projects in the U.S. are considered drivers for scrap generation in the country.
Recycled iron and steel scrap holds significant importance in the U.S. as a crucial raw material to produce new steel and cast iron products. The steel industry and foundries in the country recycle scrap and thus, rely increasingly on it for their productivity.
Due to this factor, the demand for scrap is high in the U.S. The recycling of automobiles is considered a primary source of old steel scrap in the country. The ongoing urbanization and the growing environmental awareness in the U.S. fuel automotive recycling in the country, resulting in the development of 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.S. 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 48.86% in 2023.
Horizon Databook has segmented the U.S. recycled metal market based on steel, aluminum, copper covering the revenue growth of each sub-segment from 2018 to 2030.
According to the report published by the World bank, the GDP of the U.S. stood at USD 20.9 trillion in 2022. The total net FDIs in the country remained at USD 38.17 billion. The growth of the automotive industry and the increase in building and infrastructure demolition projects in the U.S. are considered drivers for scrap generation in the country.
Recycled iron and steel scrap holds significant importance in the U.S. as a crucial raw material to produce new steel and cast iron products. The steel industry and foundries in the country recycle scrap and thus, rely increasingly on it for their productivity.
Due to this factor, the demand for scrap is high in the U.S. The recycling of automobiles is considered a primary source of old steel scrap in the country. The ongoing urbanization and the growing environmental awareness in the U.S. fuel automotive recycling in the country, resulting in the development of scrap yards.
- U.S. 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.S. Recycled Metal Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into U.S. Recycled Metal Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
U.S. Recycled Metal Market, 2018-2030 (US$M)
U.S. recycled metal market statistics, by material, 2018-2030 (US$M)
