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Metal Recycling Market To Show Marvelous Growth Worth $1.4 Trillion By 2027 | Grand View Research, Inc.

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Metal Recycling Market To Show Marvelous Growth Worth $1.4 Trillion By 2027 | Grand View Research, Inc.

June 28
09:36 2021
Metal Recycling Market To Show Marvelous Growth Worth $1.4 Trillion By 2027 | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, increasing demand for metals coupled with rising focus on conservation of natural resources and reduction in greenhouse gas emissions is the crucial factor driving the market growth.

The global metal recycling market size projected to reach USD 1.4 trillion by 2027 registering a CAGR of 4.9%, according to a new report by Grand View Research, Inc. Increasing emphasis on circular economy and growing environmental awareness are the major factors that are likely to propel the market growth over the coming years.

International efforts to enhance global recycling capabilities and the increasing availability of obsolete scrap is likely to promote industry growth in the long term. In terms of volume, steel is the most recycled metal than other materials. This is owing to the abundant availability of steel scrap. However, the outbreak of the COVID-19 pandemic is likely to cause a severe decline in the demand for 2020.

Furthermore, the growing consumption of metal in end-use industries is also likely to play a major role in driving market growth. For instance, steel is largely consumed in the automotive, construction, industrial manufacturing, and consumer goods industries. Aluminum recycling is also gaining significant momentum as recycling aluminum saves over 90% energy compared to its primary production.

Metal manufacturers are increasingly promoting recycling as an effective way to address the problem of resource scarcity and mitigate environmental impact associated with the production process. The industry is garnering significant pace as economically viable recovery of metals from the sorted recyclates is now feasible.

Asia Pacific is predicted to be the largest as well as the fastest-growing regional market from 2020 to 2027. Proper waste management and rapid urbanization are the major factors that are likely to trigger industry growth in APAC. The growing manufacturing sector in India, China, Vietnam, Thailand, Myanmar, and Indonesia is leading to increased production activities, thereby boosting the demand for metal recycling.

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/metal-recycling-market

Metal Recycling Market Report Highlights

 Asia Pacific captured the largest revenue share of 67% in 2019, in terms of volume, as the region is the largest producer of metals in the world

Steel is expected to register the fastest CAGR of 6.4%, in terms of revenue, from 2020 to 2027 owing to abundant availability of steel scrap from automobiles

The construction application segment led the market with a volume share of approximately 47% in 2019, owing to high spending in the construction sector in emerging economies of Asia Pacific

Consumer goods is expected to register the fastest CAGR from 2020 to 2027 on account of rising demand for metal products in this sector

Aluminum was the second-largest recycled product in 2019 owing to the high demand for aluminum for the production of lightweight vehicles

For Requesting a Sample Copy Please Visit @ https://www.grandviewresearch.com/industry-analysis/metal-recycling-market/request/rs1

Metal Recycling Market Segmentation

Grand View Research has segmented the global Metal Recycling market on the basis of the product, application, and region:

Metal Recycling Product Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 – 2027)

     Steel
     Aluminum
     Copper
     Others

Metal Recycling Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 – 2027)

     Construction
     Automotive
     Copper
     Others

Metal Recycling Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 – 2027)

     North America
        • The U.S.
     Europe
        • Germany
        • Russia
        • Turkey
     Asia Pacific
        • China
        • Japan
        • India
     Central & South America
        • Brazil
    Middle East & Africa

List of Key Players of Metal Recycling Market

    • European Metal recycling
     CMC
     Utah Metal Works
     GFG Alliance
     Norsk Hydro ASA
     Kimmel Scrap Iron & Metal Co., Inc.
     Tata Steel
     Schnitzer Steel Industries, Inc.

Fill The Pre-Order Enquiry Form For The Report @ https://www.grandviewresearch.com/inquiry/450668/ibb

About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/metal-recycling-market


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