Metal Recycling Market Is Anticipated To Witness Commendable Growth By 2027 | Global Trends, Outlook, And Comprehensive Research Study Report By Grand View Research, Inc.

August 20 23:08 2020
Metal Recycling Market Is Anticipated To Witness Commendable Growth By 2027 | Global Trends, Outlook, And Comprehensive Research Study Report By Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
Metal Recycling Market Size, Share & Trends Analysis Report By Product (Aluminum, Steel, Copper), By Application (Construction, Automotive, Consumer Goods), By Region, And Segment Forecasts, 2020 – 2027

The global metal recycling market size projected to reach USD 1.4 trillion by 2027 registering a CAGR of 4.9%, according to a new report by Grand View Research, Inc. Increasing emphasis on circular economy and growing environmental awareness are the major factors that are likely to propel the market growth over the coming years.

International efforts to enhance global recycling capabilities and the increasing availability of obsolete scrap is likely to promote industry growth in the long term. In terms of volume, steel is the most recycled metal than other materials. This is owing to the abundant availability of steel scrap. However, the outbreak of the COVID-19 pandemic is likely to cause a severe decline in the demand for 2020.

Furthermore, the growing consumption of metal in end-use industries is also likely to play a major role in driving market growth. For instance, steel is largely consumed in the automotive, construction, industrial manufacturing, and consumer goods industries. Aluminum recycling is also gaining significant momentum as recycling aluminum saves over 90% energy compared to its primary production.

Metal manufacturers are increasingly promoting recycling as an effective way to address the problem of resource scarcity and mitigate environmental impact associated with the production process. The industry is garnering significant pace as economically viable recovery of metals from the sorted recyclates is now feasible.

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Asia Pacific is predicted to be the largest as well as the fastest-growing regional market from 2020 to 2027. Proper waste management and rapid urbanization are the major factors that are likely to trigger industry growth in APAC. The growing manufacturing sector in India, China, Vietnam, Thailand, Myanmar, and Indonesia is leading to increased production activities, thereby boosting the demand for metal recycling.

China metal recycling market demand, by product, 2016 - 2027 (Million Tons)

Metal Recycling Market Report Highlights

  • Asia Pacific captured the largest revenue share of 67% in 2019, in terms of volume, as the region is the largest producer of metals in the world
  • Steel is expected to register the fastest CAGR of 6.4%, in terms of revenue, from 2020 to 2027 owing to abundant availability of steel scrap from automobiles
  • The construction application segment led the market with a volume share of approximately 47% in 2019, owing to high spending in the construction sector in emerging economies of Asia Pacific
  • Consumer goods is expected to register the fastest CAGR from 2020 to 2027 on account of rising demand for metal products in this sector
  • Aluminum was the second-largest recycled product in 2019 owing to the high demand for aluminum for the production of lightweight vehicles

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Global metal recycling market share, by application, 2019 (%)

Metal Recycling Market Segmentation

Grand View Research has segmented the global metal recycling market report on the basis of product, application, and region:

Metal Recycling Product Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 – 2027)

  • Steel
  • Aluminum
  • Copper
  • Others

Metal Recycling Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 – 2027)

  • Construction
  • Automotive
  • Consumer Goods
  • Industrial Goods

Key Topic Covered

Chapter 1. Methodology and Scope
                 1.1. Market Segmentation & Scope
                 1.2. Market Definition
                 1.3. Information Procurement
                     1.3.1. Purchased Database
                     1.3.2. GVR’s Internal Database
                     1.3.3. Secondary Sources & Third-Party Perspectives
                     1.3.4. Primary Research
                 1.4. Information Analysis
                     1.4.1. Data Analysis Models
                 1.5. Market Formulation & Data Visualization
                 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
                 2.1. Market Outlook
                 2.2. Segmental Outlook
                 2.3. Competitive Insights
Chapter 3. Market Variables, Trends, and Scope
                 3.1. Penetration & Growth Prospect Mapping
                 3.2. Industry Value Chain Analysis
                     3.2.1. Major Raw Material Trends Analysis
                 3.3. Regulatory Framework
                 3.4. Technology Framework
                 3.5. Metal recycling Market- Market Dynamics
                     3.5.1. Market Driver Analysis
                     3.5.2. Market Restraint Analysis
                     3.5.3. Industry Challenges
                 3.6. Business Environmental Tools Analysis: Metal recycling Market
                     3.6.1. Porter’s Five Forces Analysis
                Bargaining Power of Suppliers
                Bargaining Power of Buyers
                Threat of Substitution
                Threat of New Entrants
                Competitive Rivalry
                     3.6.2. PESTLE Anal    ysis
                Political Landscape
                Economic Landscape
                Social Landscape
                Technology Landscape
                Environmental Landscape
                Legal Landscape
                 3.7. Major Strategic Deals & Alliances


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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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