Recycled Metal Market Analysis, Size, Applications Share, Trends & Forecast, 2019 – 2025

According to a new research report by Global Market Insights, Inc. Recycled Metal Market size is forecast to exceed USD 85 billion by 2025 Recycled metal market has indeed carved out a momentous place for itself in the realm of advanced materials, plausibly on account of the growing concern among metal product manufacturers regarding the sustainability benefits of metal recycling. With the proliferation of rapid industrialization and urbanization trends across the globe, the demand for metals has observed a meteoric rise.

Having considered the adverse impact of mining on the environment, metal product manufacturers have been inclining toward recycled metals, thereby providing a major impetus to recycled metals industry. As of now, the crucial matter of contention about global warming due to rise in carbon dioxide emissions in the environment has been fueling the need for recycling.

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The Rwanda government also framed a national e-waste management strategy through which it has been providing incentives for metal scrap collection and establishment of dismantling facilities. The efforts undertaken by the Rwanda administrative body are indeed an apt instance demonstrating the role that governments have to play in the growth of recycled metal industry size.

The regional electrical & electronics domain is lately on a tremendous rise on account of the constant upgradations in electronic architecture and the ever-changing demand of consumers with regards to electronic goods. Driven by the widespread applications of recycled metal for metal plating electronic components through electrodeposition, North America recycled metal industry is forecast to accrue substantial valuation in the ensuing years.

Another pivotal reason responsible for the growth of North America recycled metal market is the presence of an increasing number of core companies that have been rather proactively adopting strategic tactics to consolidate their stance in the home continent and overseas. For instance, merely a few days ago, the aluminum recycling company, Novelis signed an agreement to acquire a leading manufacturer of recycled aluminum products, Aleris. In 2016, Aleris used nearly 734,000 metric tons of recycled aluminum in its products.

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Geographically speaking, APAC has also strongly consolidated its position in the global recycled metal industry. Driven by a stringent regulatory spectrum that mandates norms pertaining to environmental protection, APAC recycled metal market share is anticipated to grow at a CAGR of 4% over 2019-2025. The ecological concerns can be attributed to the surging number of mining activities for iron ore. Additionally, rising awareness is being generated in the region regarding the usage of recycled metals, pertaining to the fact that they provide companies with alternative economic savings in manufacturing.

The adoption of highly strategic business tactics is certain to have a transformational impact on the growth of recycled metal industry share. Additionally, the increasing awareness among regulatory bodies and private companies about the economic benefits of using recycled metal for new product manufacturing and infrastructure developments is also likely to augment the commercialization scale of this business space.

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Driven by the extensive consumption of recycled metal across myriad industry verticals such as automotive, construction, aerospace, construction, F&B, consumer electronics, and packaging, recycled metal market will surpass a revenue collection of USD 85 billion by the end of 2025.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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