The scrap metal recycling market size is anticipated to rise due to the growing need for waste management and recycling infrastructure globally. Furthermore, the governments enforce policies that promote metal recycling in various industrial sectors. Metals such as aluminum can be recycled many times and can be used to produce a variety of consumer products such as packaging. Furthermore, it can be utilized to make a range of consumer goods, including packaging. Fortune Business InsightsTM has presented this information in its upcoming report titled, “Scrap Metal Recycling, 2025-2032”.
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Forecast Growth Projected:
The global scrap metal recycling market size was valued at USD 407.02 billion in 2023. The market is projected to grow from USD 420.83 billion in 2024 to USD 568.76 billion by 2032 at a CAGR of 3.8% during the forecast period.
List of the Key Players in the Scrap Metal Recycling Market:
Segmentation -
On the basis of type, the market is bifurcated into non-ferrous and ferrous. On the basis of end-user, the market is fragmented into consumer appliances, automotive equipment manufacturing, building & construction, packaging, and others. Geographically, the market is classified into Asia Pacific, Latin America, Europe, North America, and the Middle East & Africa.
Drivers & Restraints –
High Demand for Recycling Metal Scrap and Waste Management to Drive Market Growth