Global metal recycling market size to grow to reach USD 406 bn by 2020

The global metal recycling market size will grow from USD 277.12 billion in 2015 to reach USD 406.16 billion by 2020, at a projected CAGR (compound annual growth rate) of 7.95%, revealed data released in a recently published market research report. The metal recycling market is driven by strict laws pertaining to waste management, the report said.

The metal recycling market can be segmented by metal type (ferrous and non-ferrous- aluminium, aluminium alloy, copper etc.), scrap type (old scrap, new scrap), end-use sector (construction, automotive, equipment manufacturing, shipbuilding, others), equipment (shredders, granulating machines, others) category.

According to the report, “Increasing awareness of the efficient use of natural resources is going to drive the metal recycling market. Use of recycled metal in the building & construction sector is projected to increase during the forecast period.”

In the report, the building & construction segment is projected to be the fastest-growing end-use sector in the next five years. Due to growth of infrastructure development and construction related activities, the demand for metal recycling is projected to grow in this sector.

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