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(I-AutoNewsWire.com, November 12, 2019 ) Market Overview
• Thus they are used as raw material in manufacturing processes. 40 percent of worldwide steel production is made using recycled steel as a raw material. Value of Recycled Metals from scrap in the US in 2015, in USD millions, by metals
• The primary drivers for the Recycled Metal Market are the financial incentives and environmental safety that are associated with recycling.
• This motivates community collection of scrap metal for sale to recycling operations. Lower energy is required in the manufacturing processes if the recycled metal is used as raw material, also emitting lesser amounts of greenhouse gases and a reduction in production costs.
• The growing volume of e-waste from discarded electronic products has also provided easy availability of scrap metal to be used as raw material after recycling. Collection and recapture of metal scrap for recycling have been a significant challenge in spite of the financial incentives associated with it.
• The sorting of different materials according to the base metal from a large heap of scrap has also been challenging. The increasing complexities of product design, containing a mix of various alloying elements have also made separation of metals difficult.
• Based on Type, the market is segmented into Ferrous, Non-Ferrous metals and Others. Iron and Steel, which comes under Ferrous metals, are the most recycled metals globally due to their usage in leading industrial and construction industries. These metals are also readily available for recycling, given their prevalence in all major consumer products.
• Non-ferrous metals are further segmented into Aluminum, Copper, Lead, and Others. Of these, aluminum, due to its excellent scrap value and lower energy needs, is the most recycled non-ferrous metal. The aluminum can, as a result, is the most recycled consumer product worldwide. Metal recycling of Silver, Gold, and Platinum is also done, albeit in lower quantities as the recycling processes involved are expensive.
• North America leads the market share by region as it is well established as the largest consumer market for recycled goods. Around 42 percent of crude steel in the United States is made using recycled materials. Increase in productivity of Automotive and Construction sectors in the region have in turn increased demand for recycled metals.
• Asia Pacific region is also witnessing steady growth in Recycled Metal Market as countries with developing economies, like China, India, Japan, and Australia are driving the demand for recycled metals. The generation of e-waste in the region is also high, making the availability of scrap for recycling operations easy.
• DataM analyses the complete scenario of the Global Recycled Metal market, Market Segmentation, geographical analysis, companies, trends and opportunities in the market. The market is further categorized based on Application, which includes Construction, Automotive, Electrical & Electronics, and Others.
• The demand to make automobiles more eco-friendly also makes it necessary to use scrap metal as a raw material. The report segments the geographies by regions, which include Asia Pacific, North America, South America, Europe, and RoW.
• The report profiles the following companies, which includes BASF Metals Recycling, SIMS Metal Management Ltd., Schnitzer Steel, Gold Metal Recyclers, Rimeco Aktieselskab, Nucor Corporation, Europe Recycled Metal, Commercial Metals Mining, Umicore and Da Fon Environmental Technology Co.
Key market segments covered
• Ferrous Metals
• Non-Ferrous Metals
• Electrical & Electronics
• Asia Pacific
• North America
• South America
• Rest of the World
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