The rising demand for recycled metals in automotives along with building and construction sector are driving the metal recycling market.
The metal recycling market is forecast to reach USD 86.11 billion by 2027, according to a new report by reports and data. an increase in energy savings with decreased greenhouse gas emission levels and increasing consumer awareness regarding it are driving the market for recycled metal.
The metal recycling market is growing due to the high demand for steel and rapid industrialization and urbanization in emerging nations. Moreover, increased concerns towards the exhaustion of natural resources at a faster rate have led governments across the globe to formulate favorable regulations concerning the metal recycling industry, which is further boosting the metal recycling market.
Furthermore, there is a growing scarcity of rare-earth metals, which provides a growth opportunity for the market. Factors that will restrict the global market are the unorganized flow of waste metals and less scrap collection zones. The increasing cost of raw materials is also hindering the demand along with high labor charges.
Competitive Outlook:
Nucor Corporation, Sims Metal Management Limited, Arcelormittal, Aurubis AG, Tata Steel Limited, Dowa Holdings Co Ltd., Commercial Metals Company, Totall Metal Recycling, Inc., Norton Aluminium, and American Iron & Metal (AIM), among others.
Download Report Sample PDF: https://www.reportsanddata.com/sample-enquiry-form/2927
Impact of COVID-19
The global supply of the recycled metals fell down during the first half of the year 2020 due to the COVID-19 coronavirus. The demand plummeted in China, and then the rest of the world as the pandemic led to industries and factories shutting down. It also hit a pause button on consumer spending. The infrastructure sector is not expected to witness any growth in the wake of the virus. The consumer’s all around the world are faced with reduced or lost income.
The market is expected to have a fairly rapid recovery (or V-shaped) after the COVID-19 pandemic. This is possible based on pent-up consumer demand after stay-at-home orders are rescinded. That scenario is not guaranteed as there is an element of recovery involving not only the return of positive household consumer sentiment but also the ability and willingness of governments around the world to inject money into infrastructure and other public works projects.
Ask for Customize Research Report: https://www.reportsanddata.com/request-customization-form/2927
Further key findings from the report suggest
Download Summary: https://www.reportsanddata.com/download-summary-form/2927
Similar Research reports by Reports and Data of Packaging Material Industry:
Hermetic Packaging Market Size, Share And Industry Analysis By Product Type, By Configuration, By Application, By End-Use, And By Region Forecast To 2028
Metal Corrugated Pipe Market Size, Share And Industry Analysis By, By Application and By Region Forecast to 2028
Steel Drums Market By Material Type, By Head Type, By Capacity, By End-Use Industry, By Region, Forecast to 2028
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
24World Media does not take any responsibility of the information you see on this page. The content this page contains is from independent third-party content provider. If you have any concerns regarding the content, please free to write us here: contact@24worldmedia.com
4 Advantages of Owning Your Own Dump Truck
5 Characteristics of Truth and Consequences in NM
How To Make Your Wedding More Accessible
Ensure Large-Format Printing Success With These Tips
4 Reasons To Consider an Artificial Lawn
The Importance of Industrial Bearings in Manufacturing
5 Tips for Getting Your First Product Out the Door
Most Popular Metal Alloys for Industrial Applications
5 Errors To Avoid in Your Pharmaceutical Clinical Trial
Ways You Can Make Your Mining Operation Cleaner
Tips for Starting a New Part of Your Life
Easy Ways To Beautify Your Home’s Exterior