The metal recycling market size is projected to grow from USD 551.9 billion in 2024 and is projected to reach USD 767.9 Billion by 2029, at a CAGR of 6.8%. The metal recyclings market is witnessing a significant surge, largely propelled by the environmental sustainability, regulatory requirements, resource conservation, economic incentives, and advancements in recycling technology. The Asia Pacific region, particularly China, stands out as the fastest-growing market due to its Its large manufacturing sector generates significant metal scrap, driving the demand for recycling.
The key market players are The ArcelorMittal (Luxembourg), Nucor (US), CMC (US), Sims Limited (Australia), Aurubis AG (Germany), Dowa Holdings Co., Ltd. (Japan), Tata Steel (India), Radius Recycling, Inc. (US), European Metal Recycling Ltd. (UK), and Upstate Shredding – Weitsman Recycling (US) among others. These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and contract & agreement between 2019 and 2024, to enhance their market shares and expand their global presence.
To know about the assumptions considered for the study download the pdf brochure
ArcelorMittal, a prominent steel and mining corporation globally, emerged in 2007 following the merger of Mittal Steel Company N.V. and Arcelor, which had both grown significantly through various acquisitions over the years. As the largest steel producer in Europe and among the top players in the Americas, ArcelorMittal extends its reach into Asia, particularly India, through the joint venture AMNS India. Operating steel-making facilities across 15 nations, including 37 integrated and mini-mill plants, ArcelorMittal caters primarily to local markets and serves a diverse range of industries in about 140 countries, such as automotive, appliance, engineering, construction, and machinery.
Nucor Nucor is a company that produces steel and steel-related products. It also processes ferrous and nonferrous metals. Nucor is a well-known recycler in North America that primarily uses scrap steel as its major raw material for the manufacturing of steel and steel products. Steel mills, steel products, and raw materials are the three main business segments in which the company operates. In the steel mills business, Nucor maintains an effective inventory management to satisfy expected demands and custom produces hot-rolled, cold-rolled, and galvanised sheet steel to meet specific customer specifications. Both ferrous and non-ferrous scrap metal are handled by the company in its raw materials section. The finished metal is either sold to outside clients or used in the steel mill segment. Nucor also provides material processing and transportation services to scrap metal consumers. Ferrous scraps are supplied to foundries and electric and furnace steel mills, while non-ferrous scraps are sent to aluminium can manufacturers, smelters and steel mills. The David J. Joseph Company (DJJ), a fully owned subsidiary of Nucor, leads the industry in ferrous and nonferrous metal recycling, transportation services, and scrap metal brokerage. DJJ has the ability to sort and recycle more than 5 million tonnes of ferrous and nonferrous scrap annually. DJJ operates 70 scrap recycling facilities and 6 regional businesses around the US.
CMC produces, recycles, and markets steel and metal products along with its subsidiaries. It maintains a vast and well-established global network of steel mills, fabrication, processing, recycling, and construction product warehouses as well as distribution offices. CMC operates within two main segments: North America and Europe. The North American segment is comprised of a network of recycling facilities, steel mills, and fabrication businesses. In the meanwhile, the Europe sector consists of a Polish fabrication facility, an EAF micro mill, and a network of recycling facilities.
Related Reports:
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 - Global Forecast to 2029
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE