Scrap Metal Recycling is a materials, typically metals that are left over from product manufacturing and consumption, such as vehicle parts, building supplies, and surplus materials. Scrap, as opposed to waste, has monetary value, particularly recovered metals, and non-metallic materials are also recovered for recycling. Once collected, the materials are classified into different types. Typically, metal scrap is crushed, shredded, and sorted mechanically. Scrap recycling is important for developing a more sustainable economy or a circular economy because it consumes far less energy and has a far lower environmental impact than producing metal from ore. Metal recycling, particularly of structural steel, ships, and used manufactured goods such as vehicles and white goods, is a significant industrial activity with extensive networks of wrecking yards, sorting facilities, and recycling plants.
|Unit||Value (USD Million)|
|Key Companies Profiled||Tata Steel (India), CMC (United States), Schnitzer Steel Industries (United States), European Metal Recycling (United Kingdom), Norsk Hydro ASA (Norway), Novelis (United States), GFG Alliance (United Kingdom), Kimmel Scrap Iron & Metal (United States), ArcelorMittal (Luxembourg) and Commercial Metals Company (United States)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility|
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Manufacturers of Scrap Metal Recycling Market Study:
Tata Steel (India), CMC (United States), Schnitzer Steel Industries (United States), European Metal Recycling (United Kingdom), Norsk Hydro ASA (Norway), Novelis (United States), GFG Alliance (United Kingdom), Kimmel Scrap Iron & Metal (United States), ArcelorMittal (Luxembourg) and Commercial Metals Company (United States)
Scrap Metal Recycling Market Segment Analysis
|Application / End User||Automotive, Construction and Building, Consumer Goods and Industrial Goods|
|Type||Ferrous and Non-ferrous|
|Scrap Type||New Scrap,Old Scrap|
Scrap Metal Recycling Market Changing Dynamics
- Emerging Need to Replace Virgin Scrap Metal
- Increasing Demand for Raw Material among Industries
- Rise in Adoption of New Technologies in Scrap Metal Recycling To Develop Greater Efficiencies and Maximize Profit Margins in Business
- Safety and Environmental Regulatory Guidelines May Restrain Scrap Metal Recycling
|Road Blocks / Challenges|
- High cost of machinery production hindering the Scrap Metal Recycling Market
- Stiff Competition in the Scrap Metal Recycling Market
|Gaps & Opportunities|
- Booming Scrap Metal Recycling Businesses in the Indian Market
- Increasing Use of Recycling Scrap Metals in Various Industries Creating Opportunities for Scrap Metal Recycling Market
Some of the other players that are also part of study are Aurubis AG (Germany), Nucor Corporation (United States), Sims Metal Management (United States) and Others. The Global Scrap Metal Recycling market is gaining huge competition due to involvement of United States companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
On 21st March 2022, At the ISRI Convention, AMCS launched the AMCS platform for recycling metal. The cloud-based AMCS platform for metal recycling was created in collaboration with scrap recyclers to automate every aspect of their business, including scales, compliance, pricing and contract management, transport, supplier portals, hauler portals, inventory valuation and management, production, brokerage, sales, outbound logistics, and finance.
On 2nd May 2022, Wieland has acquired Totall Metal Recycling of Granite City, Illinois. The company, a North American recycling industry leader, processes a wide range of metal scrap and other recyclables. It fits in perfectly with Wieland's North American operations because it is close to Wieland's foundry in East Alton, IL, and the future recycling centre in Shelbyville, KY.
Metal dealers and recyclers who purchase regulated metal must register with the province under British Columbia's Metal Dealers and Recyclers Act. The act forbids anyone from selling regulated metal unless they show the dealer or recycler their driver's license, BC Identification Card, or BC Service Card (Driver's Licence version only) and prove ownership of the metal. Metal dealers and recyclers must keep records of the seller and the metal. They must also notify the police on the day of the purchase. Police may investigate if the report matches a description of reported stolen property.
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Scrap Metal Recycling market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Scrap Metal Recycling market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Scrap Metal Recycling Machinery Manufacturers, Scrap Metal Recycling Distributor & Suppliers, Potential Investors, Parts and Accessories Suppliers, Government Bodies, End Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.