Key Highlights

• Scrap recycling is a sustainable and environmentally responsible method that involves collecting, sorting, processing and reusing waste materials and products (called scrap) to extract valuable resources and reduce waste. It plays an important role in protecting natural resources, reducing energy consumption and reducing environmental impact. Recycled materials cover a wide range of materials, including metal, plastic, paper, glass and electronic waste, each of which requires special processes and facilities to be used effectively. The process begins with collecting leftovers from various places such as homes, workplaces and workplaces. Once collected, the data is analysed, cleaned, and processed to remove impurities and bacteria. It is then converted into raw material or product by various techniques such as melting, crushing or chemical processes. Recycled materials are used to create new products, reducing the need for virgin resources and reducing the environmental footprint associated with extraction and production. Recycled materials contribute to the circular economy, preserve resources, reduce waste in landfills and support global trade.

• The market size of the Worldwide Scrap Recycling Industry surpassed USD XX billion in 2023, and by 2032, it is projected to reach USD XX billion, boosting at a CAGR of XX%.

• In November 2022, ArcelorMittal launched a new sustainability program in Europe with the aim of achieving Responsible Steelwork certification for all ArcelorMittal European Flat Products facilities.

• The demand for recycled materials is often due to many errors. First, the increasing awareness of environmental sustainability in the world and the crisis in combating climate change have led to an increase in the number of renewable energy sources, as the main importance of sustainable waste management. According to sustainability goals, recycling preserves resources, reduces energy consumption, and avoids greenhouse gas emissions associated with extraction and production processes. The increase in demand for raw materials and resources, especially in fast-growing economies, leads to the renewal of economic activities. Recycling is a valuable secondary resource that helps meet business needs while also reducing dependence on virgin resources and minimizing the environmental impact of resource extraction. In addition, strict environmental regulations and government incentives encourage recycling; This is driving demand for recyclable materials as companies seek to comply with laws and take advantage of capital savings and tax incentives. Additionally, the concept of circular economy, which emphasizes efficiency and waste reduction, is also gaining international attention. This change promotes a culture of recycling as a solution and good business for managing waste and saving money, encouraging the development of new technologies and practices and increasing the overall demand for recycled materials.

Scope of the Industry Profile

Key Players

• Republic Services (US)

• Schnitzer Steel Industries (US)

• Sims Recycling (US)

• Waste Management (US)

• American Iron & Metal (Canada)

• AMG Resources (US)

• Alter Trading (US)

• Azcon (Switzerland)

• Commercial Metals (US)

• European Metal Recycling (UK)

Segmentation

By Scrap Type

• Ferrous & Non-Ferrous Metals

• Paper

• Glass

• Plastic

• Textiles

• Rubber

• E-Waste

• Other Types

By Source Type

• Production Scrap

• Post-Consumer Scrap

By Industry

• Building & Construction

• Automotive

• Equipment Manufacturing

• Shipbuilding

• Packaging

• Consumer Appliances

• Other Industries

By Application

• Material Extraction

• Regeneration

• Material Recycling

What to Expect from Industry Profile

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Scrap Recycling market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Scrap Recycling market.

3. Leading company profiles reveal details of key Scrap Recycling market players’ global operations, strategies, financial performance & their recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Scrap Recycling market with forecast for decade by both market share (%) & revenue (USD Million).

Recent Development

• In May 2022, Aurubis AG announced the acquisition of the Belgian-Spanish company Metallo Group to develop the company's polymetals and recycling strategies.

• In September 2021, the famous American steel company Grossman Steel Company was acquired by Nucor Corporation.

Segment Insights

By Application 

The demand for recycled materials for data extraction is mainly driven by the increasing demand for raw materials and required costs. First, waste recycling has an environmental liability as the worldwide economy faces economic hardship and concerns about the environmental impacts of mining and extraction: travel and business. Recycling enables valuable information to be obtained from waste, reduces pressure on natural resources, controls energy consumption and impacts the environment by using mostly virgin materials. The concept of a circular economy, which encourages the recycling and reuse of materials in a closed loop, is gaining traction. The industry recognizes the importance of integrating recycled materials into the production process to reduce waste, reduce production costs and achieve sustainability goals. As a result, there is less demand for recycled materials in the world for materials such as metals, plastics and materials for the production of renewable applications that arise between the two needs of resource utilization and environmental protection.

By Scrap Type

The need to recycle scrap materials arises mainly from economic and environmental concerns. First, recycling is a great way for companies to increase the value of materials and reduce waste. By repurposing waste in the production process, companies can reduce the need for expensive raw materials, reduce production costs and increase overall efficiency. Environmental sustainability is a driving force. Recycling production waste reduces the environmental impact of production. It saves resources, reduces energy consumption and reduces greenhouse gas emissions associated with the extraction and processing of virgin materials. This is in line with the growing importance of corporate responsibility and sustainability goals, encouraging manufacturers to use recycling practices to reduce impacts on the environment. Regulatory requirements and consumer preferences for environmental products are driving businesses to use recycling services for waste products. Complying with environmental regulations and meeting consumer demand for sustainable products can help reduce the need for waste materials in production, both as a cost-saving measure and as a demonstration of a commitment to environmental responsibility.

Regional Insights

Demand for recycled materials in North America is driven primarily by a combination of environmental awareness, financial incentives, and regulatory requirements. First, there is a strong awareness of environmental sustainability in the region, leading to a cultural shift towards responsible waste management and resource conservation. According to North America's commitment to maintain a tour, recycling plays an important role in reducing waste, preserving natural resources and limiting carbon emissions. Recycling business is an important driver. Recycling not only reduces the need for expensive waste, but also generates income from the sale of recycled materials. This financial support encourages businesses and individuals to participate in recycling programs. Additionally, stringent regulations and laws, as well as government initiatives to promote recycling and reduce waste, have created a conducive environment for recycling practices. Compliance with these regulations is the driving force compelling businesses and cities to invest in recycling and processes. Additionally, circular business models that emphasize resource efficiency and sustainable practices are gaining ground in North America, further strengthening the demand for recycled materials as the foundation of responsible waste management and environmental protection.