Global Forecast 2025 – Metal Recycling and its Growth

 

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2020 witnessed the biggest lockdowns imposed on countries across the globe owing to the COVID-19 pandemic. It has affected the global economies in more ways than one. Mainly, it has directly affected the production and demand, disrupting the demand and supply chain, and by causing financial instability in market segments. Did you ever think? How will global metal recycling market be impacted by the on-going crisis? What to expect in the year 2025? 

Let’s find out the emerging possibilities.  

In 2018, the metal recycling market was valued at USD 346.86 billion. This is projected to grow to USD 468.56 billion by 2025 with a CAGR of 4.39%. 

Metal recycling is a valuable process wherein the scrap metals can be recycled repeatedly without degrading its properties. Approximately 40% of worldwide steel production is made using recycled steel. Moreover, approximately around 400 million tons of metal is recycled worldwide each year. 

In the coming years, economies that show rapid progress in urbanization and industrialization like China, India, and Brazil are anticipated to provide an impetus to the on-going metal scrap recycling initiatives for the forecast period. (https://www.mynewsdesk.com/brandessence/pressreleases/metal-recycling-market-is-valued-at-usd-468-dot-56-billion-with-the-cagr-of-4-dot-39-percent-over-the-forecast-period-by-2025-3112852?utm_source=rss&utm_medium=rss&utm_campaign=Alert&utm_content=pressrelease )

Growing environmental awareness is a driving force behind the accelerated metal recycling business. Global metal recycling market is segmented on the basis of metal type, end user and region. Among the faster growing segment, growth of demand for ferrous scrap tops in the metal recycling market. This is mainly projected since recycling ferrous metals helps in reducing the quantities of solid waste that end up in landfills. Additionally, it helps in reducing energy consumption, CO2 emissions, water consumption, and air pollution. (https://www.prnewswire.com/news-releases/metal-recycling-market-worth-76-1-billion-by-2025--exclusive-report-by-marketsandmarkets-301021406.html)

Along with the growth in the market, we can also expect rapid development in the metal recycling technology. With growing complexity in the mixtures used for creating modern products, metal recycling technologies are sure to undergo changes and adapt new methodologies. 

Urban mining refers to recovering raw materials from electrical and electronic waste. Urban mining holds potential of finding up to 50 time’s higher concentration of valuable metals than ores that are extracted in mines. This segment holds a lot of potential for growth as many countries around the globe have started to realize its importance. There are millions of appliances that are still awaiting to be recovered, For example, in Africa, approximately 1 billion phones are discarded each year.  (https://www.recupel.be/en/blog/7-reasons-why-urban-mining-is-overtaking-classical-mining/ )

Recycling companies in Dubai play a significant role in metal recycling market. In a country like UAE that uses enormous amounts of metal each year, scrap metal yards in Dubai have contributed their part in taking a step towards achieving circular economy. 

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