Scrap Metal Recycling Market by Scrap Type, Metal Type, Equipment, Source

Description

List of Tables

[187 Pages Report] The Scrap Metal Recycling Market size was estimated at USD 46.41 billion in 2023 and expected to reach USD 49.37 billion in 2024, at a CAGR 6.30% to reach USD 71.19 billion by 2030.

The scrap metal recycling promotes sustainability by transforming waste metal materials into valuable resources for various industrial applications. Key players in the market involve scrap collectors, brokers, processors, smelters, refiners, manufacturers, and end-users. Industries such as automotive, construction, electronics, aerospace, shipbuilding, consumer goods manufacturing, and packaging utilize recycled metals to create new products such as steel rebar or structural beams for infrastructure projects. Massive growth in electronic waste generation and disposal and increasing use of recycled metal products by automotive and aerospace applications drive the demand for scrap metal recycling. Growing awareness of environmental conservation and resource efficiency has increased the demand for recycled metals. Government regulations on waste management encourage industries to adopt sustainable approaches and contribute to the circular economy. High costs associated with scrap metal recycling equipment and separation procedures and inappropriate infrastructure availability for scrap collection and separation in emerging economies may restrict the growth potential of the market. Increasing investments in recycling for facility expansion worldwide and ongoing technological advancements in scrap metal recycling equipment and procedures boost potential opportunities within the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 46.41 billion
Estimated Year [2024]	USD 49.37 billion
Forecast Year [2030]	USD 71.19 billion
CAGR (%)	6.30%

Scrap Type: Old scrap offers significant opportunities for resource conservation and landfill diversion

New scrap, referred to as prompt or industrial scrap, is produced during manufacturing processes and the fabrication of new metal products. Its high-quality properties make it desirable for manufacturers due to its consistency in quality, high-metal content, and ease of processing without extensive purification. Old scrap remains an essential raw material source that helps conserve resources while diverting waste from landfills. Choosing between new scrap and old scrap depends on factors such as cost-effectiveness, availability, environmental considerations, and specific industry needs. Companies must closely monitor market trends and regulatory developments to optimize their involvement with either or both types of scrap materials accordingly.

Metal Type: Significant use of ferrous metals for heavy-duty applications

Ferrous metals, including carbon steel, stainless steel, cast iron, and wrought iron, contain iron and are magnetic in nature. Industries such as construction, automotive, and heavy machinery utilize these metals for their strength and durability. Carbon steel is an alloy mainly composed of iron and carbon. Carbon steel accounts for around 90% of global steel production, and its recyclability makes it highly valued in the scrap metal recycling industry. Cast iron is a set of iron-carbon alloys with carbon content generally higher than 2%. It exhibits excellent castability and relatively high wear resistance and is widely used in automotive components, pipes, machinery parts, and cookware. Engineering steels are specialized ferrous alloys with specific properties designed for demanding applications such as aerospace components, automotive parts, heavy machinery gears, bearings, springs, and more. Stainless steel is an alloy comprising at least 10.5% chromium by weight, which offers superior corrosion resistance compared to other types of steel due to the accumulation of a protective chromium oxide layer.

Non-ferrous metals, including aluminum, copper, lead, zinc, nickel, titanium, gold, silver, brass, and bronze, lack significant iron content and exhibit non-magnetic properties. They are more corrosion-resistant than ferrous metals and find applications in electronics components, piping systems, the aerospace industry, automotive components, and the renewable energy sector. Aluminum is a lightweight, non-ferrous metal with excellent corrosion resistance and conductivity properties. Aluminum is one of the most recycled metals globally and is widely used in the transportation, packaging, construction, and electrical industries. Brass is an alloy primarily formed of copper and zinc, exhibiting good corrosion resistance and high thermal and electrical conductivity. Copper is a reddish, non-ferrous metal known for its high electrical conductivity, malleability, and ductility. This makes it highly sought after in electrical wiring systems, plumbing fixtures, roofing materials, and electronic components. Nickel is a silver-white metal with high tensile strength and excellent corrosion resistance properties under various conditions. In recycling processes, ferrous metals benefit from well-established infrastructures employing shredding, sorting, and melting, while non-ferrous recycling involves complex pyrometallurgical or hydrometallurgical treatments, resulting in higher costs. Ferrous and non-ferrous metal recycling plays a crucial role in reducing greenhouse gas emissions, conserving natural resources, and promoting sustainable growth across various industries.

Equipment: Growing adoption of briquetting machines in industries that generate a large volume of metal waste

Briquetting machines consolidate metal shavings into compact briquettes for convenient handling and transportation. Granulating machines crush scrap metal into small granules for separation or melting processes. Metal analyzers accurately identify the composition of various metal alloys in scrap materials to ensure proper recycling procedures. Shears cut large scrap metal pieces into manageable sizes for processing. Shredders reduce mixed scrap metal volumes into smaller fragments for easier sorting and recycling. The scrap metal recycling industry relies on specialized equipment for efficient and precise processing. Selecting suitable machinery depends on the specific needs and preferences of manufacturers while focusing on recent developments as they continue to innovate and enhance their offerings.

Source: High availability of scrap metal from the automotive and building & construction industry

The aerospace industry prioritizes high-quality recycled metals such as titanium, aluminum, and nickel-based alloys for their strength-to-weight ratio and resistance to extreme temperatures. Cost reduction and sustainability drive the demand for steel and aluminum scrap in the automotive sector. Building and construction activities heavily consume recycled copper, iron, stainless steel, and aluminum in various applications. E-waste recycling is essential within the electronics appliances sector due to rapid technological advancements. Equipment manufacturing relies on durable recycled metals such as steel and cast iron for heavy machinery components production. Shipbuilding primarily uses recycled steel for economic and environmental benefits without compromising quality or durability. The scrap metal recycling industry is crucial for meeting the unique requirements of diverse sectors while promoting sustainability and cost-effectiveness.

Regional Insights

Industrialization has increased the adoption of scrap metal recycling services in the United States and Canada. The North American automotive and construction industries generate significant amounts of ferrous and non-ferrous metals as waste products that require recycling. The European Union's circular economy initiative aims at reducing waste generation by encouraging resource efficiency through recycling efforts. Stringent regulations regarding waste management and material recovery efforts bind EU countries. Germany and Turkey are major importers of ferrous scrap materials within Europe, with a combined import volume exceeding 30 million metric tons in 2022. The Middle East is experiencing increased adoption rates for scrap metal recycling services due to rapid urbanization and infrastructure development projects. Asia-Pacific countries such as China, Japan, and India are major steel producers. Rapid urbanization and industrial development have expanded the steel demand, leading to significant investment in efficient recycling processes.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Scrap Metal Recycling Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Scrap Metal Recycling Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Scrap Metal Recycling Market, highlighting leading vendors and their innovative profiles. These include Al Habari Engineering, Alcoa Corporation, Andritz AG, ArcelorMittal S.A., Arfin India Limited, Audubon Metals LLC by Koch Industries, Inc., Aurubis AG, Baosteel Co., Ltd., CASS, Inc., Commercial Metals Company, Constellium SE, Crestwood Metal Corp., European Metal Recycling Limited, Ferrous Processing & Trading, Great Lakes Electronics Corporation, Hindalco Industries Limited, Hulamin Limited, Kuusakoski Oy, Matalco Inc., Metalico, Inc. by Ye Chiu Metal Recycling (China) Ltd., Norsk Hydro ASA, Nucor Corporation, Nupur Recyclers Limited, OmniSource, LLC, Palco Recycle Industries Limited, Prime Materials Recovery Inc., Radius Recycling, Real Alloy Recycling, LLC, Remondis SE & Co. KG, Rio Tinto PLC, Scepter, Inc., Sims Limited, Tom Martin & Company Ltd., Tri-Arrows Aluminum, Inc., and TRIMET SE.

Market Segmentation & Coverage

This research report categorizes the Scrap Metal Recycling Market to forecast the revenues and analyze trends in each of the following sub-markets:

Scrap Type
- New Scrap
- Old Scrap

Metal Type
- Ferrous
  - Carbon Steel
  - Cast Iron
  - Engineering Steel
  - Stainless Steel

Non-Ferrous
- Aluminum
- Brass
- Copper
- Nickel

Equipment
- Briquetting Machines
- Granulating Machines
- Metal Analysers
- Shears
- Shredders

Source
- Aerospace
- Automotive
- Building & Construction
- Electronics Appliances
- Equipment Manufacturing
- Shipbuilding

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Georgia
    - Illinois
    - Massachusetts
    - New Jersey
    - New York
    - North Carolina
    - Ohio
    - Pennsylvania
    - Texas
    - Washington
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Scrap Metal Recycling Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Scrap Metal Recycling Market?

3. What are the technology trends and regulatory frameworks in the Scrap Metal Recycling Market?

4. What is the market share of the leading vendors in the Scrap Metal Recycling Market?

5. Which modes and strategic moves are suitable for entering the Scrap Metal Recycling Market?

Product Code: MRR-8E22B619329B

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing use of recycled metal products in automotive and aerospace applications
  - 5.1.1.2. Increase in need for electronic waste disposal
  - 5.1.1.3. Strict government regulations for waste management and environmental protection
- 5.1.2. Restraints
  - 5.1.2.1. High costs associated with scrap metal recycling equipment and separation procedures
- 5.1.3. Opportunities
  - 5.1.3.1. Increasing investments in recycling facilities worldwide
  - 5.1.3.2. Ongoing technological advancements in scrap metal recycling equipment and procedures
- 5.1.4. Challenges
  - 5.1.4.1. Inappropriate infrastructure availability for scrap collection and separation in emerging economies
5.2. Market Segmentation Analysis
- 5.2.1. Scrap Type: Old scrap offers significant opportunities for resource conservation and landfill diversion
- 5.2.2. Metal Type: Significant use of ferrous metals for heavy-duty applications
- 5.2.3. Equipment: Growing adoption of briquetting machines in industries that generate a large volume of metal waste
- 5.2.4. Source: High availability of scrap metal from the automotive and building & construction industry
5.3. Market Trend Analysis
- 5.3.1. Expanding research & development activities for development of innovative manufacturing process for scrap metal recycling in Americas
- 5.3.2. Expanding scrap metal recycling capabilities coupled with government involvement for promoting circular economy in APAC region
- 5.3.3. Increased domestic metal consumption and growing expansion efforts by the regional players in the EMEA
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Scrap Metal Recycling Market, by Scrap Type

6.1. Introduction
6.2. New Scrap
6.3. Old Scrap

7. Scrap Metal Recycling Market, by Metal Type

7.1. Introduction
7.2. Ferrous
7.3. Non-Ferrous

8. Scrap Metal Recycling Market, by Equipment

8.1. Introduction
8.2. Briquetting Machines
8.3. Granulating Machines
8.4. Metal Analysers
8.5. Shears
8.6. Shredders

9. Scrap Metal Recycling Market, by Source

9.1. Introduction
9.2. Aerospace
9.3. Automotive
9.4. Building & Construction
9.5. Electronics Appliances
9.6. Equipment Manufacturing
9.7. Shipbuilding

10. Americas Scrap Metal Recycling Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Scrap Metal Recycling Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Scrap Metal Recycling Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Nucor eyes Pacific Northwest for new mill
- 13.3.2. Nucor recycling subsidiary acquires scrap yards in Ohio
- 13.3.3. Hydro invests in modernization of Alumetal recycling plant in K??ty, Poland
- 13.3.4. AI-Based Metals Recycling Startup Sortera Raises USD 30 Million
- 13.3.5. Australian Recycling Company Acquires the U.S. Scrap Metal Recycling Business
- 13.3.6. Rio Tinto and Giampaolo Group enter into Matalco aluminum recycling joint venture
- 13.3.7. TOMRA's newest machine leverages dynamic LIBS technology for aluminum sorting
- 13.3.8. Johnson Controls launches a partnership with Nucor to recycle nearly 100% of scrap steel at major Johnson Controls facilities in the United States
- 13.3.9. Speira acquires Real Alloy Europe
- 13.3.10. Aurubis and SMS group forge ahead with the first multimetal recycling plant in the U.S.
- 13.3.11. Kuusakoski Invests EUR 25 Million To Meet Increasing Demand For Pure Recycled Metal Products

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio