Global Scrap Metal Recycling Market to Reach 1 Billion Metric Tons by 2027
Amid the COVID-19 crisis, the global market for Scrap Metal Recycling estimated at 895.8 Million Metric Tons in the year 2020, is projected to reach a revised size of 1 Billion Metric Tons by 2027, growing at aCAGR of 1.9% over the period 2020-2027. Ferrous, one of the segments analyzed in the report, is projected to record 2% CAGR and reach 896.1 Million Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Ferrous segment is readjusted to a revised 1.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at 242.5 Million Metric Tons, While China is Forecast to Grow at 3.7% CAGR
The Scrap Metal Recycling market in the U.S. is estimated at 242.5 Million Metric Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 197.8 Million Metric Tons by the year 2027 trailing a CAGR of 3.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.3% and 1.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.7% CAGR.We bring years of research experience to this 5th edition of our report. The 185-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- American Iron & Metal
- ArcelorMittal SA
- Aurubis AG
- Commercial Metals Company (CMC)
- Ferrous Processing & Trading Co.
- Nucor Building Systems
- PSC Metals, Inc.
- Sims Metal Management Ltd.
- Sunrise Metal Recycling LTD.
- Upstate Metal Recycling, Inc.
- Wm. Miller Scrap Iron & Metal Co.