Recycled Metal Market Overview, Growth, Demand And Development Research Report To 2025
Category: #business  By Rahul Sankrityayan  Date: 2020-02-14
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Recycled Metal Market Overview, Growth, Demand And Development Research Report To 2025

Having considered the adverse impact of mining on the environment, metal product manufacturers have been inclining toward recycled metals, thereby providing a major impetus to recycled metals industry. 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 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.

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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 efforts undertaken by the Rwanda administrative body are indeed an apt instance demonstrating the role that governments have to play in the growth of recycled metal industry size.

North America recycled metal industry 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 company majorly supplies its recycled metal 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.

Geographically speaking, APAC has also strongly consolidated its position in the global recycled metal industry. Driven by a stringent regulatory spectrum that mandates norms pertaining to environmental protection, APAC recycled metal market share is anticipated to grow at a CAGR of 4% over 2019-2025. The ecological concerns can be attributed to the surging number of mining activities for iron ore. Additionally, rising awareness is being generated in the region regarding the usage of recycled metals, pertaining to the fact that they provide companies with alternative economic savings in manufacturing.

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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 recycled metal industry is forecast to accrue substantial valuation in the ensuing years.

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 adoption of highly strategic business tactics is certain to have a transformational impact on the growth of recycled metal industry 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.

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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 85 billion by the end of 2025.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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