World Metal Recycling Market to Surpass $386 Billion by 2030

SEATTLE (Scrap Monster): According to latest research report published by Precision Reports, the global metal recycling market is expected to witness continued strong growth during the forthcoming years.

The global metal recycling market is projected to touch $386 billion by the end of the current decade, growing at a CAGR of 3.6% during the period from 2023 to 2030. It must be noted that the worldwide metal recycling market was valued at $292 billion during the previous year.

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Global Metal Recycling Market Forecast to Witness Rapid Expansion

Meantime, a report released by Market Research Future stated that North America holds the second largest market share in the global metal recycling market. This is mainly due to the rising demand from automotive sector and the growing trend among countries in the region to cut metal waste and carbon footprint. The U.S. metal recycling market held the largest market share, while the Canadian market is considered as the fastest-growing metal recycling market in the entire North American region.

Metal recycling helps to conserve natural resources, reduce energy consumption and minimize environmental impacts by reducing greenhouse gas emissions and reducing the need for mining.