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Recycled Metal Market 2020 – Global Industry Trends and Growth Forecast to 2025

Jan 13, 2020 (AmericaNewsHour) --

According to a new research report by Global Market Insights, Inc. Recycled Metal Market size is forecast to exceed USD 85 billion by 2025.

In the present time, recycling is the need of the hour. Indeed, with the human population now soaring to an alarming 7 billion and growing, the looming threat of natural resource overuse and depletion is closer than ever. In these situations, the need for a circular economy is growing stronger with each passing day.

Request for a sample copy of this report @   https://www.gminsights.com/request-sample/detail/2792

One of the most prominent contributors towards the establishment of a circular economy is metals. Metals are among the easiest products to recycle. Metals like iron, steel, brass, copper and aluminum are some of the easiest products to recycle and reuse. Recycled metals can be used more than once to develop new products

The recycled metal market witnesses widespread acceptance across several industries, owing to myriad advantages, the most prominent being their ability to cut down mining requirements. Recycling is much more economical than production of metals, and it also help mitigate CO2 emission levels, in turn reducing water and air pollution.

Growth drivers are

  1. Rapidly growing construction industry in the Asia Pacific and the Middle East
  2. Strong product demand from electrical & electronics industry in North America
  3. Stringent & supporting legislations for metal recycling in Europe

Fortunately, more and more industrial sectors are now becoming cognizant of the multitude of benefits offered by recycled metals and are taking the requisite steps to inculcate the use of these materials in their applications.

Rising prevalence of green construction will prove to be a significant driver for the recycled metal market

The recovery and recycling of scrap metals is a valuable green alternative to dumping of metals in landfills. As a matter of fact, the fact that most business and residential scrap metal products are reusable is a great boon to the sustainability endeavor. It ensures that these resources do not go to waste and can be recycled multiple times to be put to various different uses.

In the construction landscape, buildings represent over 40% of the energy-based CO2 across the globe and are a key factor in a much-required sustainable transformation. The construction industry is rapidly making the shift towards sustainability. This move is characterized by several sustainability efforts being incorporated at each stage of the construction process, from design to actual building. In fact, the advent of buildings incorporating pre-engineered metals is paving the way for more green endeavors in the years ahead.

Dearth of knowledge regarding the importance of metal recycling will restrict recycled metal market growth

Even though the benefits of recycled metals are fairly known, the actual rate of metals recycled is only around 30%. This figure is alarming, especially considering the fact that scrap metal is among the easiest components to recycle and is also abundantly available. One of the primary constraints to the recycled metal market growth is lack of knowledge regarding metal recycling as well as dearth of recycling infrastructures in emerging economies. These issues can be addressed by implementing community programs for metal recycling as well as by running public awareness campaigns to educate the populace on the merits of recycled metals.

Another contributing factor to the low recycling rate is the design of many metal products. Modern products are a complex network of various materials which makers the separation and recycling of specific products more difficult. A cellphone, for instance, houses over 40 different types of elements. Therefore, extracting each material individually from a discarded cell phone is increasingly hard, in turn making recycling and reuse of the elements quite challenging.

Key trends impelling recycled metal market expansion

  • Increasing usage of recycled steel for automotive production

Across more than 10,000 junkyards in the U.S, vehicles are stripped and the salvaged metal, predominantly aluminum and steel, is further processed through shredding before being finally melted down to produce recycled steel. This recycled metal is then used in the production processes for new automobiles.

The recycling and reuse of steel has multifold advantages; it can cut down auto manufacturing costs by nearly 20% to 60%, in addition to presenting robust environmental merits. Studies show that the recycling of 165,500 vehicles in Massachusetts helps reduce eliminate nearly 2.2 million CO2 emissions. The extensive use of these metals in auto operations and their plethora benefits are indicative of the fact that metal recycling is fast propelling the industry towards a much-needed zero waste situation.

  • Stringent regulations and laws imposed by regulatory bodies in Asia Pacific

Emerging nations, such as India, are now recognizing the positive effect of metal recycling on their endeavor to a more sustainable future. In light of this, the Indian government has recently proposed a Steel Scrap Recycling policy, which is designed to mitigate steel imports as well as facilitate resource and energy conservation.

The new policy is based on the 6Rs principle - Reduce, Reuse, Recycle, Recover, Redesign & Remanufacture.  The policy will enforce this principle through efficient scientific management, processing and disposal of all types of recyclable scrap metals including non-ferrous metals. All the activities will be carried out through authorized recycling facilities.

The policy aims to bridge scrap supply-demand gaps in the future, thereby allowing the country to become self sufficient by 2030. The government has also stated that this effort will enable India to establish a competent steel industry on a global scale via the adoption of sophisticated environmental conservation technologies.

The Recycled Metal Market Report Consists of,

Chapter 3. Recycled Metal Market Insights

3.1.  Industry segmentation

3.2.  Industry size and forecast, 2014 – 2024

3.3.  Industry ecosystem analysis

3.3.1.     Raw material analysis

3.3.2.     Manufacturing trends

3.3.3.     Profit margin

3.3.4.     Value addition

3.3.5.     Distribution channel analysis

3.3.6.     Vendor matrix

3.3.6.1.     List of key raw material suppliers

3.3.6.2.     List of key manufacturers/distributors

3.3.6.3.     List of key/potential customers

3.4.  Innovation & sustainability

3.4.1.     Patent analysis

3.4.2.     Technology landscape

3.4.3.     Future trends

3.5.  Industry impact forces

3.5.1.     Growth drivers

3.5.1.1.       Global drivers

3.5.1.1.1.        Rapidly growing construction industry in the Asia Pacific and the Middle East

3.5.1.1.2.        Strong product demand from electrical & electronics industry in North America

3.5.1.1.3.        Stringent & supporting legislations for metal recycling in Europe

3.5.2.     Industry pitfalls & challenges

3.5.2.1.       Inefficient recycling process

3.6.  Regulatory landscape

3.6.1.     U.S.

3.6.2.     Europe

3.6.3.     China

3.7.  Growth potential analysis

3.8.  Regional price trends

3.8.1.     Cost structure analysis

3.8.1.1.     R&D cost

3.8.1.2.     Manufacturing & equipment cost

3.8.1.3.     Raw material cost

3.8.1.4.     Distribution cost

3.8.1.5.     Operating cost

3.8.1.6.     Miscellaneous cost

3.8.2.     Price by metal

3.8.3.     Price by end-user

3.9.  Competitive landscape, 2018

3.9.1.     Company market share analysis, 2018

3.9.2.     Strategic dashboard

3.10.        Porter’s analysis

3.10.1.   Supplier power

3.10.2.   Buyer power

3.10.3.   Threat of new entrants

3.10.4.   Threat of substitutes

3.10.5.   Industry rivalry

3.11.      PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/recycled-metal-market

Increasing awareness of metal recycling merits to present strong prospects for the recycled metal market in India

The known benefits of metal recycling are innumerable; with light being shed on the positive impact of recycled metals on water and energy conservation. This is particularly relevant to emerging economies, where metal recycling is yet to receive the appreciation it deserves.

With the circular economy concept gaining a stronghold over the industrial spectrum, the efficient usage of resources such that they can be recycled and put to more uses is gaining worldwide prominence. Since scrap metals is one of the foundation materials to be repurposed into new final products, it is no surprise that these are the elements blazing the trail towards a greener and more sustainable future.

The post Recycled Metal Market 2020 – Global Industry Trends and Growth Forecast to 2025 appeared first on America News Hour.

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