Global Recycled Metal Market to Reach US$ 476.23 Bn by 2024: Transparency Market Research

Transparency Market Research has published a new report titled “Recycled Metal (Ferrous, Non-ferrous, and Others) Market for Building & Construction, Automotive, Electrical & Electronics, Shipbuilding, Industrial Machinery, and Other End-users – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.” According to the report, the global market for recycled metal was valued at US$ 312.90 Bn in 2015 and is anticipated to reach US$ 476.23 Bn by 2024, expanding at a CAGR of 4.8% between 2016 and 2024.

Asia Pacific and Europe held more than 70% share of the global recycled metal market in 2015. Demand for metals is high in various industries such as construction, infrastructure, transportation, aerospace, and machinery. Extraction of metals from ore and mining entails high consumption of energy coupled with release of greenhouse gases. However, environmental concerns associated with primary production of metals can be addressed with recycled metal. The energy required and greenhouse gas emission in metal production through recycling are significantly less than that of primary production. Thus, increasing awareness regarding environmental sustainability in developed and developing regions has been fueling the global recycled metal market since the last few years.

Browse the full report at http://www.transparencymarketresearch.com/metal-recycling-market.html

China dominated the recycled metal market in Asia Pacific in 2015. Growth in economy and rise in GDP have boosted end-user industries such as construction, automotive, and industrial machinery in countries such as China, India, Singapore, Malaysia, Indonesia, Thailand, and South Korea. This, in turn, has significantly propelled the demand for recycled metal in Asia Pacific. Rise in infrastructure activities in India is predicted to drive the demand for recycled metals in the next few years. India is estimated to witness the fastest growth rate in the recycled metal market during the forecast period due to the increasing demand for recycled metals in key end-user segments. China is likely to hold the largest share of the recycled metal market in Asia Pacific in the next few years.

Europe accounted for the second-largest share of the global recycled metal market in 2015. Rise in environmental awareness among manufacturers and consumers has been playing a key role in driving the recycled metal market in developed countries of the region since the last few years. Furthermore, supportive policies of governments and stringent regulatory laws have augmented the recycled metal market in Europe. Rest of Europe, Italy, and Germany were the key consumers of recycled metals in Europe in 2015. North America accounted for the third-largest share of the global recycled metal market in 2015, followed by Latin America. In terms of volume, the U.S. dominated the recycled metal market in 2015.

The recycled metal market in Middle East & Africa is estimated to exhibit promising growth rate during the forecast period. Building & construction and automotive are projected to be the key end-user segments of the recycled metal market in Middle East & Africa. Rise in consumer awareness regarding adverse effects of greenhouse gases coupled with benefits of recycled metal is likely to boost the recycled metal market in the region. GCC and South Africa are projected to emerge as promising markets for recycled metal during the forecast period. GCC is anticipated to be the largest market for recycled metal in Middle East & Africa in the next few years. Latin America is also likely to be another lucrative market for recycled metal during the forecast period.

The recycled metal market has been divided into the following segment

Recycled Metal Market – Product Segment Analysis

  • Ferrous
  • Non-ferrous
  • Others (Including Precious Metals, etc.)

Recycled Metal Market – End-user Analysis

  • Building & Construction
  • Automotive
  • Electrical & Electronics
  • Shipbuilding
  • Industrial Machinery
  • Others (Including Household Appliances, etc.)

Recycled Metal Market – Regional Analysis

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Get Free Research PDF for more Professional and Technical Insights: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=11726

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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