The global recycled scrap metal market is anticipated to expand at a steady 5.4% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent market analysis. Increasing production of iron and steel is boosting demand for recycled scrap metals. Growing utilization of scrap metals in steel production and in non-ferrous metals processing is further expected to boost the consumption rate of recycled scrap metals.
Get a Sample Copy of Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-14112
Rapid development of the building and construction sector also is propelling sales of recycled scrap metals. Increments in the production of automotive, shipbuilding aero plane manufacturing are also bolstering the consumption rate of recycled scrap metal.
Production and processing of ferrous as well as non-ferrous metals produces scrap. These scraps are further utilized in the processing of various products to reduce waste generation. Growing demand for waste management and initiatives taken by regional government bodies to minimize waste is expected to bolster sales of recycled scrap metals over the forecast period.
Key Takeaways:
- By metal type, demand for ferrous metals is expected to surge at a 5.4% CAGR over the forecast period.
- The post-consumer recycled scrap metal segment is projected to hold approximately 85% of the total market share in 2021.
- Applications of recycled scrap metals in the equipment and tools segment are anticipated to grow at a 4.6% CAGR through 2031.
- Sales of recycled scrap metals in the U.S. are anticipated to increase by 4.9% year-over-year in 2021.
- Russia will emerge as an attractive recycled scrap metals market, with sales growing at a 4.4% CAGR in 2021.
Request Report Methodology: https://www.futuremarketinsights.com/askus/rep-gb-14112
Competitive Landscape
Key market participants in the global recycled scrap metal market elaborated in the report includes ArcelorMittal, Aurubis AG, China Baowu Group, HBIS Group, Sims Metal Management Ltd., HKS Metals, Nucor Corporation, AMG Resources Corporation, Celsa Group, EMR Group, CRONIMET Holding GmbH, GLE Scrap Metal, Tucson Iron and Metal, ELG Haniel GmbH, Atlantic Recycling Group, LLC, Baroni Scrap Metal LLC, Kuusakoski Group Oy, IMR Innovative Metal Recycling GmbH, Romukeskus Oy, Commercial Metals Co (CMC), MetalCirc Oy, GMH Recycling GmbH, Eco-Bat Technologies Ltd., and Evraz plc.
More Insights into the Recycled Scrap Metals Market Report
In its latest report, FMI offers an unbiased analysis of the global recycled scrap metal market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of metal type (ferrous and non-ferrous), source (production scrap and post-consumer scrap) and end-use (transportation, building & construction, consumer electronics, packaging, equipment & tools, art, décor and home furnishing and jewelry) across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).
By Metal Type:
- Ferrous Metals
- Non-Ferrous Metals
By Source Type:
- Production Scrap
- Post-Consumer Scrap
By End-Use:
- Transportation
- Building & Construction
- Consumer Electronics
- Packaging
- Equipment & Tools
- Art, Decor & Home Furnishings
- Jewelry
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Ask for Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-14112
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumersz
Contact Us:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
Website: https://www.futuremarketinsights.com