Metal Recycling Market Overview
According to the Bureau of International Recycling, almost 40% of the World’s steel production is extracted from scrap. Recycling one tonne of steel saves 642 kWh of energy, 1.8 barrels (287 liters) of oil, 10.9 million of British thermal unit energy, and 2.3 cubic meters of landfill space. Steel automobile frames consist of at least 25% of recycled steel and a typical electric appliance uses 75% of recycled steel. Metals are a limited resource, whose consumption, management and production echo to the need to adopt a recycling economy. Therefore, a booming metal recycling market.
The recycling of non-renewable resources is often advocated as the solution to the potentially restricted supplies, and metal recycling is one of them. It refers to the process of recovering and processing scrap metal from obsolete metals. Metals are essential for the global economy, as they find application in manufacturing buildings, automotive industry extending to the massive production of mobile phones, computers and other electronic equipment. Using recycled raw materials cuts down carbon dioxide emissions to great extent.
The information is based on a recent business intelligence report from IndustryARC, titled “Metal recycling market: by type (ferrous metals and non-ferrous metals); by end user industry (construction, industrial and others); & geography forecast (2018-2023).”
Metal Recycling Market Report Link: https://industryarc.com/PressRelease/1082/Metal-Recycling-Market-Research.html
Global Metal Recycling Market: Competitive Landscape
The recycled metals are profoundly being employed for the manufacturing and repair works of the marine fleet all across the globe. The company Sims Metal Management is one of the leading publicly listed metal recycler. All kinds of ferrous and non-ferrous metals are reprocessed by the firm. The company generated more than $6,448 million in sales revenue in the fiscal year 2018 with 10.3% underlying return on the invested capital. Furthermore, the company generated 395,000 megawatt hours of renewable energy form metal recycling only.
Aurubis is one of the leading provider of non-ferrous metals worldwide and a well-known name in the global metal recycling market. Headquartered in Germany, this company is the world’s largest copper recycler. They produce high-quality and pure copper from copper concentrates and recycling materials. Aurubis is producing more than one million tonne of copper cathodes annually which is utilized in the manufacturing of wire rod, rolled strips, wires and copper profile alloys.
Schnitzer Steel Industry is a global leader in recycling metals from the United States. It is serving low-cost quality parts to customers all across Canada and the U.S. Its major operation lies in the recycling of used auto parts. Additionally, they also contribute to the manufacturing, retail, transportation, utility, demolition and construction industry
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The metal recycling industry is playing an important role towards sustainability of the planet. More recycled metals means reduced wastage, reduced consumption of virgin ores and reduced carbon emission from the metal manufacturing industry. The robust demands from the automobile, construction and electronics industry is presumed to yield considerate profit in the metal recycling industry in near future.