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Metal Recycling News November 21, 2019 09:30:42 AM

Global Recycled Metal Market to Exceed $85 Billion

Paul Ploumis
ScrapMonster Author
The resilient U.S. electrical and electronics industry will provide major support to recycled metal market.

Global Recycled Metal Market to Exceed $85 Billion

SEATTLE (Scrap Monster): The latest report published by Global Market Insights, Inc. foresees significant boost in metal demand, triggered by robust growth in transportation, electrical and electronic industries around the world, especially in the U.S. Consequently, the overall recycled metal market is expected to be valued at $85 billion by 2025.

The report cites several key drivers for metal market demand. The first and foremost trigger would be the rapidly growing construction industry in the Asia Pacific and Middle East regions. The stability in crude oil prices has triggered increased investments in infrastructure projects in the region. This is expected to lift the demand for recycled metal, mainly steel, aluminium, copper and iron.

The resilient U.S. electrical and electronics industry will provide major support to recycled metal market. It must be noted that the North American region’s recycled metal market was estimated at around $8.5 billion in 2017. The consistently advancing technologies in the electrical sector ensure broad use of metals, primarily due to its magnetic properties. The rigid legislations in support of the sector is likely to benefit metal recycling in Europe.

ALSO READ: Sims Metal Gets Permit for New Scrap Metal Recycling Facility in Nevada

Meantime, the report states that the sector is still in dearth of highly competent recycling processes which could deliver complete recovery of metal from scrap. This, in turn, has impacted the overall recycled metal market growth.

The report identifies Sims Metal Management, Steel Dynamics, Novelis Inc., Triple M Metal LP., Armco Metal Holdings, Kuusakoski Recycling, Befeso, Schnitzer Steel, Hawkeswood Metal recycling Ltd. And Asahi Holding as the key players in recycled metal market.

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