Recycled Metal Market growth rate is forecast at over 4.4% CAGR in the next six years
Dec 4, 2018
The newly released research at Market Study Report titled “2018-2024 Global recycled metal market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.
Selbyville, Delaware - December 4, 2018 /MarketersMedia/ —
North America recycled metal market was estimated close to USD 8.5 billion in 2017. This is mainly attributed to strong presence of transportation, electrical & electronics and defense industry which majorly constitute to the overall product demand. Moreover, strict laws formulated by the local regulatory bodies to reduce carbon footprint by recycling metal to save environment from the hazardous waste. For example, OSHA 3348-05 is responsible for identification and control of health hazard in metal recycling industry. Such instances are fundamental aspects which has triggered metal demand and therefore is probable to make positive influence on the reprocessed metal market by 2024.
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Players operating in the global Recycled Metal market include Sims Metal Management, Steel Dynamics, Novelis Inc., Triple M Metal LP., Armco Metal Holdings, Kuusakoski Recycling, Befeso, Schnitzer Steel, Hawkeswood Metal recycling Ltd., Asahi Holding, Hensel Recycling, Sims Recycling Solutions, BR Metals, ELG HanielGmbh, European Metal Recycling Ltd., Nucor Corporation, Aurubis Ag, Commercial Metal Company.
Reprocessed metal market share for electrical & electronics is projected to witness gains close to 4% by 2024. Metals are broadly used in the electrical & electronics industry due to its magnetic properties which is advantageous in several electronic applications. Non ferrous metals are used in electronics such as in printed circuit, computer chips, electrical switches, keyboard membranes, etc. owing to its thermal and electrical conductivity. The unique chemical and physical properties possessed by metals along with consistently advancing technologies in the electronics sector will contribute significantly to the global recycled metal market by 2024.
Middle East construction industry is growing rapidly which is mainly due to stabilized crude oil prices which has resulted in rising investment in infrastructure projects. For instance, government in the Middle East has made substantial investment on the Projects such as King Abdulla Economic city in Saudi Arabia, Lusail city in Qatar, Oman rail network and Al Zour refinery in Kuwait. This will trigger demand for recycled metal mainly steel, iron, copper and aluminum. The abovementioned trends will make notable contribution to the recycled metal market in the forecast timeframe.
Strong growth in transportation and electrical & electronics industry mainly in the U.S. will also help trigger metal demand which is mainly due to consistently upgrading & advancing technology which is in line with evolving consumer’s preference. These aforementioned trends will have a significant influence on the overall recycled metal market by 2024.
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recycled ferrous metals market generated close to USD 550 million in 2017. It is primarily due to its comprehensive applications across transport, electronics, industrial machinery, defense and construction sector. Iron and steel are used in the construction industry is in building, steel frame works, bridges, etc., owing to its superior properties such as high tensile strength, durability and reliability to avoid wear & tear in the longer run. The aforementioned trends will support in attaining considerable gains to the global reprocessed metal market by 2024.
Table of content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Recycled Metal Industry Insights
Chapter 4. Recycled Metal Market, Metal By End-user
Chapter 5. Recycled Metal Market, By End-user
Chapter 6. Recycled Metal Market, By Region
Chapter 7. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/recycled-metal-market
Related Report:
United States Recycled Metal Market Report 2018
In this report, the United States Recycled Metal market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.
https://www.marketstudyreport.com/reports/united-states-recycled-metal-market-report-2018/?utm_source=RR-PSR
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Source: MarketersMedia
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