Metal Recycling in Mining Market Scope
The metal recycling process includes the recovery and processing of scrap metal to new raw material for the production of new goods. As with the growing movement of people to cities and rise in the middle-income, which causes rising utilization of more minerals and metals for new infrastructure and commodities, and through this more scrap is available. Metal scrap is valued raw material and it can be recycled and used again and again. In the current market situation, China is putting a stop to waste imports in FY 2019. Additionally, China also banned imports of ferrous and non-ferrous metals, including copper and aluminum scrap, as of mid-2019. Chine revealed its 5-year agenda, that covers special targets for the development of recycling facilities, determined by economic, social, and environmental reasons.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | ArcelorMittal (Luxembourg), Globe Metal (Canada), Sims Metal Management Limited (Australia), Nucor Corporation (United States), Commercial Metals Company (United States), Sims Metal Management Limited (United States), Aurubis AG (Germany), Tetronics (International) Limited (United Kingdom), SUEZ (France) and Tata Steel (India) |
CAGR | 5.7% |
The companies are operating in this industry are focusing on exploring new regions. With the increasing scrap of metal, the leading market players are adopting various marketing strategies including mergers & acquisitions, service expansions, technological investments, and high focus towards bringing automation in this industry. This market is fragmented by the leading players, there is a smaller number of small size players because it required huge initial investment to enter in this business. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Metal Recycling in Mining market throughout the predicted period.
ArcelorMittal (Luxembourg), Globe Metal (Canada), Sims Metal Management Limited (Australia), Nucor Corporation (United States), Commercial Metals Company (United States), Sims Metal Management Limited (United States), Aurubis AG (Germany), Tetronics (International) Limited (United Kingdom), SUEZ (France) and Tata Steel (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Dowa Holdings Co. Ltd (Japan), European Metal Recycling Limited (United States) and Gerdau (Brazil).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Metal Recycling in Mining market by Type and Region with country level break-up.
On the basis of geography, the market of Metal Recycling in Mining has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2023, Nucor Corporation announced an acquisition on behalf of its recycling subsidiary River Metals Recycling (RMR). RMR has acquired all Cincinnati-based Garden Street Iron & Metal assets, including one feeder and one shredder yard, bringing RMR's total number of recycling facilities to 19. This is consistent with Nucor's raw materials strategy and demonstrates its commitment to expanding the regional recycling platforms supporting the company's steel mills.
In May 2019, Malaysia revealed that it is planning to become a regional scrap hub for non-ferrous metal waste recycling in the Southeast Asia region. To promote this, the industry set its first-ever non-ferrous metal association known as SDM. Southeast Asian countries including Thailand, Malaysia, Vietnam, and the Philippines are setting up recycling facilities that will process the nonferrous scrap to filter out the impurities in order to encounter the stringent import scrap criteria to China.
Influencing Trend:
Increasing Players Concentration to the Advanced Recycling and Market Leading Players are Highly Focus to the Equipment Performance
Market Growth Drivers:
Growing Demand for the Recycling of Metals to Save the Energy from Producing New Metals and Rising Availability of Outdated Metal Scrap across the Globe, Majorly in Asia Pacific Regions
Challenges:
Unorganized Metal Scrap Collection in Under-Developed Regions
Restraints:
Stringent Government Regulations Hindering Free Trade of Scrap Metal and It Required Huge Initial Investment for New Market Entrants to Enter into this Market
Opportunities:
The huge amount of available scrap metal in the Asia Pacific region and will continue to grow. It will majorly play role in China. In the coming years, China will become a net exporter of scrap metal across the globe, as after import ban on metal scrap in China, still there will be a rise in the number of local collections centers and scrap processing plants. Apart from this, there is huge growth opportunities for other Southeast countries to enhance their recycling facilities.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Metal Recycling in Mining Service Providers, Government Regulatory and Research Organizations and End-Use Industries