Dublin, June 14, 2024 (GLOBE NEWSWIRE) -- The "Global Metal Recycling Market by Type (Ferrous Metals, Non-Ferrous Metals), Scrap Type (Old Scrap, New Scrap), Equipment Used (Shredder, Shear, Granulation Machine, Briquetting Machine), End-Use Industry, and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The metal recycling market size is estimated to be USD 551.9 billion in 2024, and it is projected to reach USD 767.9 billion by 2029 at a CAGR of 6.8%.
The rising demand for consumer electronics is significantly driving the growth of the metal recycling market. As the production and consumption of devices such as smartphones, laptops, tablets, and household appliances increase, so does the generation of electronic waste (e-waste). These devices contain valuable metals like copper, aluminum, gold, and silver, which can be recovered and recycled. Recycling metals from e-waste is crucial for conserving natural resources and reducing the environmental impact of mining and processing new metals. 
The high turnover rate of consumer electronics, due to rapid technological advancements and the frequent release of new models, creates a constant supply of obsolete devices ready for recycling. Governments and environmental organizations are enforcing stricter regulations and promoting initiatives to manage e-waste, encouraging recycling practices among both consumers and manufacturers. This regulatory support, along with growing environmental awareness among consumers, is boosting the metal recycling market. Thus, the increasing demand for consumer electronics leads to more e-waste, driving the need for efficient recycling processes to recover valuable metals. This trend supports the growth of the metal recycling market by ensuring a steady supply of recyclable materials and promoting sustainable practices in the electronics industry.
By Type, Non-Ferrous Metals Segment Accounted for the Second Highest CAGR During the Forecast Period.
Non-ferrous metals are metals that do not contain significant amounts of iron, making them more malleable, lighter, and resistant to corrosion compared to ferrous metals. Common non-ferrous metals include aluminum, copper, lead, zinc, tin, nickel, and precious metals like gold and silver. Non-ferrous metals have a wide range of applications. Aluminum is used in aircraft, automotive parts, packaging, construction materials, and consumer electronics. Copper is essential for electrical wiring, plumbing, roofing, and industrial machinery. Lead finds use in batteries, radiation shielding, and certain types of glass and ceramics. Zinc is used for galvanizing steel, in alloys like brass, and in die-casting for automotive and electrical industries.
Tin is commonly used in solder for electronics, as a coating for steel cans, and in various alloys. Nickel is utilized in stainless steel production, batteries (particularly for electric vehicles), and superalloys for aerospace applications. Gold and silver are prized for jewelry, electronics due to their excellent conductivity, medical devices, and as investment commodities. These properties make non-ferrous metals indispensable in modern technology, infrastructure, and manufacturing.
By End-Use Industry, Equipment manufacturing End-Use Industry Segment Accounted For The Third Highest CAGR During the Forecast Period.
Several factors contribute to the expansion of the equipment manufacturing end-use industry within the metal recycling market. There is a growing emphasis on sustainability and environmental awareness among equipment manufacturers. Utilizing recycled metals in manufacturing aligns with these principles, offering a more eco-friendly alternative to virgin materials. Recycling metals often proves more economical than sourcing new materials, leading to savings in raw material procurement, production, and waste disposal costs for manufacturers. Advancements in recycling technologies improve the quality and availability of recycled metals, making them increasingly viable for manufacturing high-quality equipment.
Innovations in sorting, shredding, and purification processes enable the recovery of pure metals with properties comparable to virgin materials. Regulatory initiatives and government policies promoting recycling and circular economy principles incentivize equipment manufacturers to integrate recycled metals into their production processes. Consumer preferences for eco-friendly products influence equipment manufacturers to prioritize sustainability.
Using recycled metals allows manufacturers to meet these expectations, enhancing their brand reputation and market competitiveness. Thus, the growth of the equipment manufacturing industry within the metal recycling market is driven by sustainability concerns, cost-effectiveness, technological advancements, regulatory incentives, and consumer demand for eco-friendly products. These factors collectively contribute to the increasing adoption of recycled metals in equipment manufacturing, fostering a more sustainable industrial ecosystem.
The North America region is accounted third largest in the Metal recycling market.
The North American metal recycling market experiences growth and development influenced by various drivers, trends, and factors. Stringent environmental regulations and sustainability initiatives push industries to adopt recycling practices, aiming to minimize waste and preserve resources. The region's robust industrial sector generates significant amounts of metal scrap, ensuring a steady supply for recycling processes. Technological advancements in recycling technologies enhance efficiency and promote the utilization of recycled metals across various applications. Economic factors, including cost-effectiveness and the increasing demand for sustainable products, further stimulate the growth of the metal recycling market in North America.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 284 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $551.9 Billion |
| Forecasted Market Value (USD) by 2029 | $767.9 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Ferrous Metal Segment to Register Higher CAGR During Forecast Period
- Old Scrap Segment to Witness Higher Growth Rate During Forecast Period
- Building & Construction to be Largest End-use Industry of Metal Recycling
- Asia-Pacific to Lead Metal Recycling Market
Premium Insights
- Attractive Opportunities for Players in Metal Recycling Market - Emerging Economies Offer Attractive Opportunities in Metal Recycling Market
- Asia-Pacific: Metal Recycling Market, by Type and Country -China Dominated Metal Recycling Market in 2023
- Metal Recycling Market, by Type -Ferrous Metals Segment to Lead Overall Market During Forecast Period
- Metal Recycling Market, by Scrap Type - Old Scrap to Register Higher Growth Rate During Forecast Period
- Metal Recycling Market, by End-use Industry -Building & Construction to Lead Metal Recycling Market
- Metal Recycling Market, by Country - China Projected to Register Highest CAGR from 2024 to 2029
Market Dynamics
Drivers
- Growing Demand from Automotive, Consumer Electronics, and Construction Industries
- Expansion of Steel Industry
- Implementation of Stringent Regulations
Restraints
- Unorganized Metal Waste Collection in Developing Countries
Opportunities
- Establishment of Net-Zero Emission Targets
- Recovery of Metals from Slag Residue
Challenges
- Growing Complexity of Products
Case Study Analysis
- Radius Recycling's Integrated Approach
- Omnisource, LLC 'S Sustainable Practices
- Upstate Shredding - Weitsman Recycling's Expansion
Companies Featured
- ArcelorMittal
- Nucor
- CMC
- Sims Limited
- Aurubis AG
- DOWA Holdings Co. Ltd.
- Tata Steel
- Radius Recycling, Inc.
- European Metal Recycling Ltd.
- Upstate Shredding - Weitsman Recycling
- Totall Metal Recycling, Inc.
- American Iron & Metal
- Tom Martin & Company Ltd.
- Kuusakoski Recycling
- REMONDIS SE & Co. KG
- Chiho Environmental Group Limited
- Metal Exchange Corporation
- Ferrous Processing & Trading
- SA Recycling LLC
- TMS International
- Hugo Neu Corporation
- Cohen
- OmniSource, LLC
- Metalico, Inc.
- Alter Trading
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