The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
The report offers actionable and valuable market insights of Ferrous Scrap Metal Recycling. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Ferrous Scrap Metal Recycling Market across various industries and regions.
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Market Snapshot
Fact.MR- market research and competitive intelligence provider- estimates the scrap metal recycling market to experience a growth rate of 5.5% to reach US$ 103 Bn from 2021-2031. As of 2021, demand is anticipated to touch US$ 60 Bn. Scrap metal recycling is an energy efficient method which may reduce the carbon-footprint and cater the demand from leading end-use sectors such as building & construction, automotive, and shipbuilding for ferrous metals.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Ferrous Scrap Metal Recycling market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Ferrous Scrap Metal Recycling
This newly published and insightful report sheds light on Market Insights of Ferrous Scrap Metal Recycling, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Ferrous Scrap Metal Recycling Market.
Key Segments Covered
-
Metal Type
- Ferrous Scrap Metal Recycling
- Stainless Steel Scrap Metal Recycling
- Carbon Steel Scrap Metal Recycling
- Mild Steel Scrap Metal Recycling
- Cast Iron Scrap Metal Recycling
- Others
- Non-ferrous Scrap Metal Recycling
- Aluminum Scrap Metal Recycling
- Copper Scrap Metal Recycling
- Lead Scrap Metal Recycling
- Nickel Scrap Metal Recycling
- Zinc Scrap Metal Recycling
- Brass Scrap Metal Recycling
- Tin Scrap Metal Recycling
- Gold Scrap Metal Recycling
- Others
- Ferrous Scrap Metal Recycling
-
Scrap Type
- New Scrap Metal Recycling
- Old Scrap Metal Recycling
-
Industry
- Building & Construction Scrap Metal Recycling
- Automotive Scrap Metal Recycling
- Industrial Manufacturing Scrap Metal Recycling
- Electricals Scrap Metal Recycling
- Shipbuilding Scrap Metal Recycling
- Consumer Electronics Scrap Metal Recycling
- Others
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Competitive Landscape
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, new retail stores launch, technological advancements, mergers, and acquisitions.
- In October 2020, ArcelorMittal Long Products Canada and Triple M Metal formed Integrated Metal Recycling Inc. as a joint venture that will combine “many of the recycling activities of the two partners” in Quebec. This venture is likely to offer effective recycling of scrap metal and deliver better services to consumers.
- DBW Metals Recycling is a prominent non-ferrous metal recycling facility, based in Anaheim, Orange County, USA, which welcomes material from the general public, manufacturers, contractors and industry dealers
Key Takeaways from Market Study
- High demand for new scrap likely to be witnessed
- Stainless steel to remain the leading segment in terms of metal
- Rise in requirement from building & construction industry to augment demand growth
- The United States to exhibit hegemony in the scrap metal recycling industry, especially in North America
- Germany to take the limelight in Europe’s market for scrap metal recycling
- Asia Pacific to exhibit fastest growth throughout the forecast period
- The United Kingdom, Canada, South Korea, France, Canada, Italy, and a few other countries to maintain positive market outlooks during the forecast period
“Demand for scrap metal recycling is projected to gain traction as key end-use sectors such as automotive, building & construction, and others are recovering steadily from the COVID-19 pandemic. Furthermore, growing preference for ferrous metals such as carbon steel, stainless steel, and mild steel is set to aid in industry revenue growth over the coming years,” says a Fact.MR analyst.
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