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Recycled Metal Market Trends

Report ID: GMI2792
Published Date: Nov 2024
Report Format: PDF

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Recycled Metal Market Trends

The recycled metal industry is witnessing significant trends in manufacturing efficiency and technological advancements. Innovations such as automated sorting systems and advanced smelting techniques enhance the purity and quality of recycled metals, reducing waste and energy consumption. Manufacturers are increasingly adopting processes like hydrometallurgy and pyrometallurgy, which optimize recovery rates and lower production costs. Additionally, digital technologies, including blockchain for tracking materials and AI for predictive analytics, are streamlining operations and improving supply chain transparency. These advancements not only boost efficiency but also support sustainability goals, making recycled metals more competitive in various industries.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The global market size for recycled metal reached USD 128.1 billion in 2024 and is projected to grow to USD 195.7 billion by 2034, driven by a CAGR of 4.9% from 2025 to 2034.

The building & construction segment held a 37.5% market share in 2024, amounting to USD 46.1 billion, and is expected to grow at a 5.5% CAGR from 2025 to 2034, driven by the demand for sustainable materials.

The U.S. market is projected to achieve USD 14.2 billion by 2034, driven by a CAGR of 3.8% from 2025, due to increasing demand for sustainable practices and rising raw material costs.

Major players in the industry include Armco Metal Holdings, Asahi Holding, Befeso, Hawkeswood Metal Recycling Ltd., Hensel Recycling, Kuusakoski Recycling, Novelis Inc., Schnitzer Steel, and Sims Metal Management.