Recycled Metal Market set to grow at 4.5% CAGR during 2018-2024
SELBYVILLE, Del., Aug. 21, 2018 /PRNewswire-iReach/ -- North America recycled metal market has gained exceptional prominence across the globe in the last couple of years, which can be credited to the rapidly expanding electrical & electronics sector in the region. Already a technological hub in itself, the region houses a plethora of E&E companies that contribute toward the country's GDP. The regional electrical & electronics domain is lately on a tremendous rise on account of the constant upgradations in electronic architecture and the ever-changing demand of consumers with regards to electronic goods. Driven by the widespread applications of recycled metal for metal plating electronic components through electrodeposition, North America scrap recycled metal industry is forecast to accrue substantial valuation in the ensuing years.
According to a new industry growth analysis by Global Market Insights, Inc., "Recycled Metal Market size was USD 90 billion in 2017 which is forecast to expand at 4.5% CAGR to hit USD 125 billion by 2024"
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Another pivotal reason responsible for the growth of North America recycled metal market is the presence of an increasing number of core companies that have been rather proactively adopting strategic tactics to consolidate their stance in the home continent and overseas. For instance, merely a few days ago, the aluminum recycling company, Novelis signed an agreement to acquire a leading manufacturer of recycled aluminum products, Aleris. In 2016, Aleris used nearly 734,000 metric tons of recycled aluminum in its products. The company majorly supplies its recycled metal market products to the defense, automotive, construction, aerospace, and packaging industries. Consequently, this acquisition will prove to be beneficial for Novelis not only in terms of business expansion but also in terms of retaining Aleris's widespread customer base.
As of now, the crucial matter of contention about global warming due to rise in carbon dioxide emissions in the environment has been fueling the need for scrap metal recycling. Consequently, activities such as mining and solid waste accumulation in landfills that lead to the destruction of biodiversity have been cast in a negative light, resulting in a massive shift of preference toward recycled metals. Also, regional governments and private companies are likely to save up on capital post adopting the practice of recycling metals, given that the energy consumed for metal recycling is far lesser as compared to extracting ores.
Buy this industry insights spread across 323 pages with 448 market data tables & 32 figures & charts from the report, "Recycled Metal Market Size By Metal (Ferrous, Non-ferrous [Aluminum, Copper, Lead, Precious Metals]), By End-user (Building & Construction, Transport, Industrial Machinery, Electrical & Electronics, Defense, Packaging, Consumer Goods, Nuclear, Military, Jewellery, Coins, Chemical), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024" in detail along with the table of contents:
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Speaking about the initiatives taken by the regional governments with regards to metal recycling, it would be imperative to mention the instance of the Rwanda government having undertaken significant steps to strengthen the industrial sector in the region by encouraging the practice of metal recycling. In accordance, the government has taken efforts to establish metal scrap collection centers from where the waste metal can be recollected and recycled into construction materials like iron bars. The Rwanda government also framed a national e-waste management strategy through which it has been providing incentives for metal scrap collection and establishment of dismantling facilities.
The adoption of highly strategic business tactics is certain to have a transformational impact on the growth of recycled metal market share. Additionally, the increasing awareness among regulatory bodies and private companies about the economic benefits of using recycled metal for new product manufacturing and infrastructure developments is also likely to augment the commercialization scale of this business space. Driven by the extensive consumption of recycled metal across myriad industry verticals such as automotive, construction, aerospace, construction, F&B, consumer electronics, and packaging, recycled metal market will surpass a revenue collection of USD 125 billion by the end of 2024.
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Partial Chapters of the Table of Contents:
Chapter 3. Recycled Metal Market Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2014 - 2024
3.3. Industry ecosystem analysis
3.3.1. Raw material analysis
3.3.2. Manufacturing trends
3.3.3. Profit margin
3.3.4. Value addition
3.3.5. Distribution channel analysis
3.3.6. Vendor matrix
3.3.6.1. List of key raw material suppliers
3.3.6.2. List of key manufacturers/distributors
3.3.6.3. List of key/potential customers
3.4. Innovation & sustainability
3.4.1. Patent analysis
3.4.2. Technology landscape
3.4.3. Future trends
3.5. Industry impact forces
Browse full TOC: https://www.gminsights.com/toc/detail/recycled-metal-market
3.5.1. Recycled Metal Market Growth drivers
3.5.1.1. Global drivers
3.5.1.1.1. Rapidly growing construction industry in the Asia Pacific and the Middle East
3.5.1.1.2. Strong product demand from electrical & electronics industry in North America
3.5.1.1.3. Stringent & supporting legislations for recycled metal market in Europe
3.5.2. Industry pitfalls & challenges
3.5.2.1. Inefficient recycling process
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Growth potential analysis
3.8. Regional price trends
3.8.1. Cost structure analysis
3.8.1.1. R&D cost
3.8.1.2. Manufacturing & equipment cost
3.8.1.3. Raw material cost
3.8.1.4. Distribution cost
3.8.1.5. Operating cost
3.8.1.6. Miscellaneous cost
3.8.2. Price by metal
3.8.3. Price by end-user
3.9. Competitive landscape, 2017
3.9.1. Company market share analysis, 2017
3.9.2. Strategic dashboard
3.10. Porter's analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Threat of substitutes
3.10.5. Industry rivalry
3.11. PESTEL analysis
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making.
Media Contact: Jignesh Thakkar, Global Market Insights, Inc., +13028467766, sales@gminsights.com
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