What’s Driving Demand in the United States for Scrap Metal Recycling

The global scrap recycling industry is expanding steadily with rise in demand from key end-use sectors such as building & construction, automotive, and electricals, to name a few, and is subject to expand further over the coming years. Stainless steel will remain the most recycled scrap metal over the coming years.

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The latest report on scrap metal recycling by Fact.MR offers detailed analysis of the global industry, along with new trends, demand-supply trajectories, and growth & restraining factors for the forecast period of 2021 to 2031. As stated in the report, the United States, Germany, China, India, Japan, and a few other countries will have a major share on the market, while Asia Pacific will exhibit the fastest growth rate throughout the forecast period.

The global scrap metal recycling market is projected to ascend at around 5.5% CAGR through 2031.

Key Takeaways from Market Study

• High demand for new scrap likely to be witnessed
• Stainless steel to remain the leading segment in terms of metal
• Rise in requirement from building & construction industry to augment demand growth
• The United States to exhibit hegemony in the scrap metal recycling industry, especially in North America
• Germany to take the limelight in Europe’s market for scrap metal recycling
• Asia Pacific to exhibit fastest growth throughout the forecast period
• The United Kingdom, Canada, South Korea, France, Canada, Italy, and a few other countries to maintain positive market outlooks during the forecast period

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Market Segmentation by Category

• Metal
  • Ferrous Scrap Metal Recycling
    • Stainless Steel Scrap Metal Recycling
    • Carbon Steel Scrap Metal Recycling
    • Mild Steel Scrap Metal Recycling
    • Cast Iron Scrap Metal Recycling
    • Others
  • Non-ferrous Scrap Metal Recycling
    • Aluminum Scrap Metal Recycling
    • Copper Scrap Metal Recycling
    • Lead Scrap Metal Recycling
    • Nickel Scrap Metal Recycling
    • Zinc Scrap Metal Recycling
    • Brass Scrap Metal Recycling
    • Tin Scrap Metal Recycling
    • Gold Scrap Metal Recycling
    • Others

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Requirement from Building & Construction Sector Fueling Sales

Scrap metal recycling is highly sought-after in the building & construction sector, especially in projects such as roads and bridges. As the construction sector is getting back on track again with increase in the number of residential, commercial, and industrial projects, scrap metal processing equipment suppliers are likely to come across higher growth scope over the coming years.

According to a report titled “China- Construction and Green Building”, published by SelectUSA, China is the world’s largest construction industry, and the United States is China’s second-largest source of imports for the construction industry, with an import market share of 13%. As stated in the report, China’s construction industry is set to grow at an annual average of 5% in real terms through 2023. This, in turn, gives a glimpse of the high potential for scrap metal processing stakeholders.

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