Global Metal Recycling Market Forecast to Witness Rapid Expansion

SEATTLE (Scrap Monster): The global metal recycling market is predicted to expand at a CAGR of 6% between 2024 and 2036, according to a latest research report by Research Nester. The market revenue is expected to record a surge from $70 billion in 2023 to $143 billion by end-2036.

The demand for metal recycling is expected to see rapid increase, mainly on account of economic expansion, driven by rapid industrialisation and urbanization.

The increasing popularity of the aluminum metal will see aluminum segment of the metal recycling industry securing a major market share of 39% in the forthcoming years. The use of aluminum in various industries, coupled with rising reuse of the metal will trigger market growth. By industry, the automotive sector will emerge as the major driver for the demand for metal recycling, accounting for a market share of approximately 35% during the forecast period.

The Asia Pacific region will hold a majority market share of 35%, due to expanding presence of aluminum and other metal industries in various countries in the region. The recent huge investments in recycling programs will result in acceleration of market expansion in the European region.

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