The newly released research at Market Study Report titled “2017-2024 Global Recycled Metal Market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.
Selbyville, DE -- (SBWIRE) -- 12/07/2018 -- The newly released research at Market Study Report titled "2017-2024 Global Recycled Metal Market Report" provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.
North America recycled metal market was estimated close to USD 8.5 billion in 2017. This is mainly attributed to strong presence of transportation, electrical & electronics and defense industry which majorly constitute to the overall product demand. Moreover, strict laws formulated by the local regulatory bodies to reduce carbon footprint by recycling metal to save environment from the hazardous waste. For example, OSHA 3348-05 is responsible for identification and control of health hazard in metal recycling industry. Such instances are fundamental aspects which has triggered metal demand and therefore is probable to make positive influence on the reprocessed metal market by 2024.
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Recycled Metal Market is forecast to exceed USD 125 billion; according to a new research report.
Middle East construction industry is growing rapidly which is mainly due to stabilized crude oil prices which has resulted in rising investment in infrastructure projects. For instance, government in the Middle East has made substantial investment on the Projects such as King Abdulla Economic city in Saudi Arabia, Lusail city in Qatar, Oman rail network and Al Zour refinery in Kuwait. This will trigger demand for recycled metal mainly steel, iron, copper and aluminum. The abovementioned trends will make notable contribution to the recycled metal market in the forecast timeframe.
Strong growth in transportation and electrical & electronics industry mainly in the U.S. will also help trigger metal demand which is mainly due to consistently upgrading & advancing technology which is in line with evolving consumer?s preference. These aforementioned trends will have a significant influence on the overall recycled metal market by 2024.
Lack of highly competent recycling processes which can completely recover the metal from scrap is a main restraint which may hinder the overall recycled metal market size. Aluminum can only be recovered close to 35% from the scrap metal. Nonetheless, strong emphasis on reducing waste generated and its impact on the environment will generate ample opportunities for reprocessed metal market by 2024.
Prominent recycled metal manufacturers are Nucor, Steel Dynamics, Schnitzer Steel, Sims Metal, Novelis, ELG Haniel and European Metal Recycling. These manufacturers are rigorously engaged in acquisition, joint ventures and partnerships to expand its market presence. For instance, Steel Dynamics acquired assets from Sims Metal Management. The move was intended to support its Columbus flat roll division plant.
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Table of Content:
Chapter 1. Methodology And Scope
Chapter 2. Executive Summary
Chapter 3. Recycled Metal Industry Insights
Chapter 4. Recycled Metal Market, Metal By End-user
Chapter 5. Recycled Metal Market, By End-user
Chapter 6. Recycled Metal Market, By Region
Chapter 7. Company Profiles
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