Metal Waste and Recycling Market Scope
Metal waste and recycling specializes in the recycling of ferrous and non-ferrous metals without altering its properties. The surge in prices of raw materials is one of the most crucial factors driving the scrap metal recycling growth. The most common recyclable metals are aluminium and steel, and the other metals are silver, copper, brass and gold are so valuable that they are rarely thrown away to be collected for recycling. Metal recycling is gaining significant importance attributed to the rising problem pertaining to disposal of metal wastes across the globe.
According to AMA, the Global Metal Waste and Recycling market is expected to see growth rate of 5.7% Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Metal Waste and Recycling market throughout the predicted period.
ArcelorMittal (Luxembourg), Nucor Corporation (United States, Commercial Metals Company (United States), Sims Metal Management Limited (United States), Aurubis AG (Germany), Remondis SE & Co. KG (France), American Iron & Metal (Canada), Gerdau (Brazil), Tata Steel (India), Dowa Holdings Co. Ltd (Japan), European Metal Recycling Limited (United States) and OmniSource Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are European Metal Recycling Limited (United States) and OmniSource Corporation (United States).
Segmentation Overview
The study have segmented the market of Global Metal Waste and Recycling market by Type (Ferrous metal (Iron) and Non-ferrous metal (Copper, Silver, Brass, Aluminium, Gold)), by Application (Building & Construction, Automotive, Equipment Manufacturing, Shipbuilding, Consumer Appliances, Battery, Packaging and Others) and Region with country level break-up.
On the basis of geography, the market of Metal Waste and Recycling 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).
Influencing Trend:
Changing Regulatory Landscape with Regards to Metal Scrap Recycling
Market Growth Drivers:
Rising Demand for Metal Recycling in Numerous End Use Industries Including Electronic, Building and Construction and Shipbuilding and The Rapid Growth of Industrialization and Urbanization in Developing Nations and Increasing Consumer Awareness
Challenges:
High Initial Investment and Lack of Proper Infrastructure Especially in Developing Economies
Restraints:
Low Awareness in Developing and Underdeveloped Countries Would Slow the Metal Waste and Recycling Activities and Unorganized Flow of Waste Metals and Less Scrap Collection Zones
Opportunities:
Increasing Scarcity of Rare Earth Metals and Rising Demand for Recovering Metal from Slag Residue
Market Leaders and their Expansionary Development Strategies
In October 2023,Nucor Corporation (NYSE: NUE) announced an acquisition today 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.
In March 2024, Recyclekaro, a player in e-waste and lithium-ion battery recycling in India, is poised to introduce India's first Plasma Furnace Technology Unit. Plasma Furnace Technology harnesses high-temperature plasma arcs to efficiently extract valuable metals from diverse waste streams.
Under current federal law, scrap metal is always a solid waste when discarded, 1 and is subject to regulation as a hazardous waste when discarded, but, pursuant to 40 CFR 261.6(a)(3)(ii), is specifically exempted from regulation as a hazardous waste when discarded by being recycled. Simply put, scrap metal' that exhibits a characteristic of hazardous waste (or that is contaminated with a hazardous waste listed in 40 CFR 261.31, 261.32, or 261.33) is not regulated as a hazardous waste when recycled, but is regulated as a hazardous waste when disposed, if it exhibits a characteristic of hazardous waste
Key Target Audience
Metal Producing & Recycling Companies, Environmental Service Providers, Government and Regulatory Bodies, Associations and Industry Bodies, Municipalities, Local, and Regional Authorities and End Users
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.