Effect of COVID-19 Metal Recycling Market 2020
The global Metal Recycling Market is likely to exhibit steady growth over the forecast period, according to the latest report on Wise Guy Research (WGR). The market’s major drivers and restraints are analyzed in the report, which provides readers with a clear picture of what’s driving and what’s holding back the Metal Recycling Market. The historical trajectory is examined in the report in order to provide a basis for predictions regarding the market’s growth rate over the forecast period. Happenings in the review period are examined carefully to explain their connection with the market’s present state and future growth prospects.
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The report profiles the following companies – Gerdau SA, Nucor Corporation, Commercial Metals Company, Steed Dynamics Inc, Schnitzer Steel Industries Inc, Industrial Services of America, Arcelor Mittal, Aurubis AG, Dowa Holdings Co. Ltd, Novelis Inc, Kuusakosi, SIMS Metal Management, Tom Martin, Real Alloy and Triple M Metal Recycling Ltd.
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles. Based on the metal type, the market is segmented as – Ferrous metals and non-ferrous metals. Based on the kind of scrap, the market is segmented as – Old scrap and new scrap. Based on the mode of recycling, the market is segmented as – Shearing, shredding, baling, torching, and crushing. Based on the end user application, the market is segmented as – Automotive, electronics and electrical equipment, building and construction, Shipbuilding, Packaging Industry, Commercial household products, Aerospace, and Industrial machinery applications. Based on the geography, the market is segmented into the following regions – North America, South America, Asia-Pacific, Europe and Rest of the World.
Global Metal Recycling Market – Geographical Analysis
The Global Metal Recycling market is segmented into North America, Europe, Asia Pacific, South America, and ROW. The Asia Pacific is the primary driving region for the global metal recycling market owing to the increasing steel consumption by countries like China and India. In 2017, China alone accounted for 46.4% of the worlds steel use and contributed about 49.2% of the world’s total crude steel production. It hit a record 2.5 million tons of steel production per day and has remained relatively healthy. Steel output increased by 5.5% in China and other countries like South Korea and Taiwan; the steel output went up by 3.6 and 3.8%.
Global Metal Recycling Market – Competitive Analysis
The major players in this market incorporate competitive strategies like mergers and acquisitions to retain their position in the market and also contribute to the growth of their companies. For instance, In November 2018, Arcelor Mittal announced that the company had completed transaction to acquire Ilva S.p.A and launched Arcelor Mittal Italia. This acquisition has provided the company with a unique operation to expand its presence in the European continent by acquiring Europe's single largest steelmaking site. In November 2018, Commercial Metals company announced that is has completed the acquisition of 33 rebar facilities in the United States, including steel mills located in Knoxville, Tennessee; Jacksonville, Florida; Sayreville, New Jersey and Rancho Cucamonga, California from Gerdau S.A. New product launches and expansion of facilities are some other essential strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate. In January 2019, DOWA ECOSYSTEM CO LTD, a subsidiary of DOWA HOLDINGS CO LTD commenced the operation of recycling lines for lithium-ion batteries to safely treat lithium-ion batteries, efficiently recycle metals and increase processing.
Global Metal Recycling Market – Segmentation Analysis
The Global Metal Recycling market has been segmented by metal type, end-user application, mode of recycling, scrap type, and geography. The market for recycling of ferrous metals is gaining momentum and is expected to grow at a faster rate. Iron scrap and steel scrap are the primary ferrous metals which are recycled. According to the world steel association, 1689 million tons of crude steel was produced in 2017, and the annual growth rate from 2015 to 2017 was 2.1%. Ninety-nine million tons of scrap steel was exported, and various countries of the world imported 98.4 million tons of scrap steel in 2017. The Bureau of internal recycling states that 40% of the world's steel is produced from scrap. In the case of non-ferrous metals, the world refined copper production from scrap was 3.481 million tons in 2017 and this figure grew by 9.4% when compared to 2016. Aluminum is one of the primary non-ferrous metals which is most widely recycled after steel and paper.
Recycled metals find their primary use in building and construction, Automotive, electronics and electrical equipment, Shipbuilding, packaging industries, Commercial household products, Aerospace, and Industrial machinery applications. Building and construction industry is the dominant segment in this market because of the increase in disposal of metal scrap into the landfills. A study by the scientists at the Department of Materials Science, Carnegie Mellon University has concluded that most of the scrap metal is emerging from the construction and building industry. In 2016, the total metal scrap from the building and construction industry was 19 million tons in the United States which was followed by consumer goods which accounted for 6 million tons of metal scrap production and industrial products which produced 11 million tons of metal scrap.
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Major Key Points of Global Metal Recycling Market
GLOBAL METAL RECYCLING MARKET-SCOPE AND METHODOLOGY
GLOBAL METAL RECYCLING MARKET –KEY TRENDS AND DEVELOPMENTS
GLOBAL METAL RECYCLING MARKET – SEGMENTATION
GLOBAL METAL RECYCLING MARKET – BY GEOGRAPHY
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