A recent report published by Infinium Global Research on the industrial metal scrap market provides an in-depth analysis of segments and sub-segments in the global as well as regional industrial metal scrap market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional industrial metal scrap market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global industrial metal scrap market. According to the report, the global industrial metal scrap market is projected to grow at a significant CAGR over the forecast period of 2022-2028.
A large amount of metal is used across various industry verticals to produce different products—industries including construction, automotive, industrial equipment, packaging, and other widely used metals for production. Manufacturers generate a lot of waste, including unused scrap that cannot be used for any other process. On the other hand, manufacturers choose to dump defective products if they are irreparable. One way or another, there is a large amount of material that remains unutilized after the manufacturing process. This unused material is then sold for scrap.
The industrial metal scrap industry is growing mainly due to the growing expenditure on infrastructure development in emerging economies. The governments are targeting to increase the funds for the development of the infrastructure sector, including highways, renewable energy, and urban transport. Further, recycled raw materials are important to reduce production costs, lower energy usage, and reduce greenhouse gas emissions in industries. These factors support the growth of the industrial metal scrap industry. In addition, in the past few years, construction expenditure around the world has been increasing. This in turn, further drives the growth of the industrial metal scrap market. However, the flow of waste metals is unorganized and there are fewer scrap collection zones in emerging economies. This poses a major threat to the growth of the industrial metal scrap market. Moreover, the future growth in the industrial metal scrap market is attributed to the growing number of government regulations on waste recycling and management. Governments worldwide are promoting the metal scrap industry as Carbon footprint reduction is a key priority. This will create new opportunities for the industrial metal scrap market.
The US and China are the leading markets in the global metal scrap sector. The U.S. is the largest global supplier of metal scrap. While China is the largest consumer of metal scrap in the world. The USA has a higher metal and waste recycling rate of 80-90 percent. On the other hand, China is the biggest importer of metal scrap, followed by Europe. Europe also has a higher recycling rate of over 70 percent. However, being the major global metals consumer, China has been putting a curb on scrap imports as part of a program against foreign solid waste. This led to overseas scrap exporters trying to find other markets. The growing regulations on waste recycling and management in China are likely to offer growth opportunities to the industrial scrap market in other developing countries. Moreover, increasing private and public investments in scrap recycling in developing economies are supporting the growth of the industrial scrap industry. In addition, a number of government initiatives to build organized flow in the scrap industry is propelling the industrial scrap industry over long term.
The report on the global industrial metal scrap market covers segments such as material type, and source. On the basis of material type, the sub-markets include ferrous, and non-ferrous. On the basis of source, the sub-markets include building & construction, automotive, equipment manufacturing, packaging, and others.
The report provides profiles of the companies in the market such as Sims Limited, The David J. Joseph Company, OmniSource, LLC, Stena Metall Group, ATC Metals GmbH, Aadi Group, MTC Business Pvt. Ltd., Ferrous Processing & Trading Company, Commercial Metals Company, and ASM Recycling Inc.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the industrial metal scrap market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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