New three digit milestone ahead for scrap metal sector

The global scrap metal recycling market is expected to grow to US$ 105 billion (EUR 93 billion) by 2028, representing a compound annual growth rate of almost 10% from 2018.

‘The global scrap metal recycling market players are firmly placed with young players entering the market with a view of transforming the traditional business models by means of advanced technologies and modernised approaches,’ according to analysts at Adroit Market Research. They observe that fierce competition among new and old market players, along with the introduction of innovative strategies, upgraded equipment and smart systems, will further enhance recycling performance.

‘Commercial alliances, regional diversity, portfolio fortification and technological upgrades are the latest trends dominating the global scrap arena,’ the report notes. The analysis gives a breakdown of the latest trends for both ferrous and non-ferrous scrap.

Applications covered include automotive, building & construction; consumer goods, and industrial goods. Regions included in the report are: North America, South America, Europe, Asia Pacific, Middle East and Africa. Countries spotlighted are: Brazil, China, France, Germany, India, Japan, Mexico and the UK.