Fairfield Market Research Non-Ferrous Scrap Recycling Market Size, Share, Growth 2030

Non-Ferrous Scrap Recycling Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Industry: Chemicals & Materials


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Non-Ferrous Scrap Recycling Market: Overview

The market size for Non-Ferrous Scrap Recycling was USD 239.5 million in 2021, projected to grow at a CAGR of 2.1 percent during the forecast period. The market expansion is anticipated to be fueled by the rising demand for non-ferrous scrap in end-use industries and secondary production. Due to rising consumer demand, manufacturers are now producing more electronics, cars, and other goods. The need for non-ferrous scrap has also increased due to rising industrialization. Thus, the collection and recycling of it are being given increased attention. For instance, European Aluminum recently unveiled its "Circular Aluminum Action Plan," which intends to maximize the benefits of aluminum for a circular economy by 2030.

The market is expected to grow due to the increased demand for non-ferrous scrap in end-use and secondary production sectors, which forced manufacturers to increase the production of goods like electronics, cars, and other items. Additionally, the demand for non-ferrous scrap has expanded as a result of growing manufacturing on a global scale. Additionally, the market is expanding due to growing public awareness of the environment, the economy, and energy conservation in recycling these metals.

In Europe, recycling aluminum opens up several industrial and environmental options. According to the Circular Aluminum Action Plan, if the right policy framework is put in place, post-consumer recycling will be able to meet 50.0% of Europe's aluminum demand. A key factor in the plan's success is the high recycling rate of aluminum in Europe, which is over 90.0% in the construction and automotive industries and over 75.0% in beverage cans. The market is growing due to societal awareness of the environment, the economy, and energy conservation about recycling these metals.

Non-Ferrous Scrap Recycling Market: COVID-19 Impact

The COVID-19 pandemic outbreak significantly impacted the non-ferrous scrap recycling sector. The COVID-19 epidemic caused the closure of several businesses, including building and construction, automotive, equipment manufacture, shipbuilding, packing, consumer appliances, and others, which reduced the demand for non-ferrous scrap recycling. Lockdown was imposed due to the COVID-19 epidemic, which reduced the amount of non-ferrous scrap recycling produced and impacted the worldwide supply chain. Due to the COVID-19 epidemic, the market for non-ferrous scrap recycling scrap saw a decline in sales. The global energy demand has altered due to the government's strict regulations; this has caused supply chain disruptions and, in turn, reduced demand for and production of metals.

Non-Ferrous Scrap Recycling Market: Drivers

Technological Improvement in Non-Ferrous Scrap Metal Recycling to Drive Market Growth

It is projected that as recycling rates increase, so will the need for recycled non-ferrous scrap metal. The non-ferrous scrap metal recycling industry can continue to grow, create new business opportunities, and increase employment by expanding recycling infrastructure in developed and developing nations, improving garbage collection techniques, and supporting metal recycling by manufacturers and nations. According to the Canadian Association of Recycling Industries, Canada's non-ferrous scrap metal recycling sector, directly and indirectly, employs 160,000 people. The market for non-ferrous scrap metal recycling is anticipated to grow due to the use of rare metals in various goods and their scarcity. Creations for non-ferrous scrap metal recycling will probably be obsolete as technology advances. During the forecast period, rising urbanization and industrialization, rising disposable income, and increased awareness are anticipated to drive the non-ferrous scrap metal recycling market.

Customer’s Rising Interest in Smart Home Technology to Drive Market Growth

Due to the abundance of recyclers, scrap yards, and important secondary metal producers in the sector, the market is very competitive and unstructured. Given the limited volume and high price of non-ferrous scrap, there is enormous room for market expansion. Leading industry players are investing in the market, particularly in developing countries, as the value of non-ferrous recycling metals grows. For instance, in May 2022, a block of land in Pinkenba, a portside neighborhood of Brisbane, cost $88 million to purchase by Sims Metal Management Inc., a major global recycler looking to acquire one of the few remaining places with deep water access. The business intends to build a non-ferrous and ferrous metals processing and resource renewal facility.

Non-Ferrous Scrap Recycling Market: Restraints

Quality Problems with Recycled Material to Hamper Market Growth

Metals like aluminum, steel, and others must be manually sorted from recyclables like paper and plastic. The quality of things made with recycled metals can change since metals, especially aluminum, manage to degrade after each reuse cycle, but most metals never get to the point where they are no longer recyclable. Products made from non-ferrous scrap metal always need energy, albeit 95 % less than those made from scratch. Several states and local governments have legislation requiring recycling metals and other types of scrap metal. Metal and scrap recycling is required in Lee County, Florida, to make future recycling less expensive. Before employing any materials, end users must double-check government regulations and standards. However, the lack of scrap collection zones and the disorganized flow of waste metals are predicted to impede the market's expansion. All these factors hinder market growth.

Non-Ferrous Scrap Recycling Market: Segment Overview

Ferrous Segment to Dominate Market Due to Increased Utilisation of Scrap in Production of Steel

Based on product, the Non-Ferrous Scrap Recycling market is segmented into ferrous and non-ferrous. The ferrous segment dominates the market and is expected to maintain its dominance over the forecast period. Iron and steel scrap are among the most often recycled ferrous metals worldwide. Both end-of-life products and production processes produce scrap, which is where this comes from. Using scrap in steel production has become a crucial steelmaking sector. The Bureau of International Recycling estimates that scraps are used in producing steel in 40% of cases.

Building & Construction Category to Dominate the Market Owing to Durability of Non-Ferrous Materials

Based on the end-use industry, the Non-Ferrous Scrap Recycling market is segmented into building & construction, automotive, equipment manufacturing, shipbuilding, packaging, consumer appliances and others. The building & construction segment dominates the market and is expected to maintain its dominance over the forecast period. Numerous non-ferrous materials, including copper from pipes and tubing, shop fronts, curtain walling, aluminum from window frames, door knobs, and other structures, and zinc from roofing and galvanized steel items, are gathered from the building & construction industry. Despite having the highest proportion, building & construction are predicted to develop slower than other industries since non-ferrous materials are more durable and buildings last longer before they can be recycled. However, due to the building & construction industry's increasing modernization and infrastructure expansion, as well as the increased usage of non-ferrous metals throughout the projection period, it is anticipated that the sector would dominate the market. However, due to the expanding use of non-ferrous metals in household appliances and rising consumer awareness of recycling, consumer appliances are predicted to experience the quickest growth rate throughout the forecast period. Appliances and electronics typically have a short lifespan; thus, recycling them after they are damaged beyond repair is advised.

Non-Ferrous Scrap Recycling Market: Regional Landscape

Asia Pacific to Dominate Market due to Significant Metal Production

Over the forecast period, it is anticipated that the Asia Pacific market will account for the largest revenue share. The region's significant metal production is attributed to the dominance of the non-ferrous scrap recycling market. Consequently, the recycling sector is well developed in the Asia-Pacific region. Regarding recycling, India is expected to experience a considerable growth rate in the Asia Pacific region throughout the forecast period. The nation produces a substantial amount of non-ferrous metal scrap, but due to a poorly organized market and low levels of knowledge, a large share ends up in landfills rather than recycling facilities. India has a recycling rate of 25.0%, compared to a global average of 45.0%. The numbers show the market has enormous room to expand. In 2016, the nation produced 120 kilotons of aluminum scrap, with the automotive and power industries being the main producers.

The European market is anticipated to experience stable revenue growth throughout the forecast period due to rising investments in smart technologies. Technological developments in the generation and processing of scrap are responsible for the region's growth. For instance, in April 2020, Erdwich-Zerkleinerungs-Systeme GmbH created a facility for separating non-ferrous metals from heavy & light materials to ensure 100% recovery of valuable resources. In the area, recycling is crucial because Europe is a major exporter of non-ferrous metal scrap. Germany, the United Kingdom, and France are among the world's top five nations for exporting aluminum and scrap. Germany is the primary market for aluminum in Europe, which consumes a significant portion of the metal globally. The automotive sector is the region's largest producer of copper and aluminum scrap.

Global Non-Ferrous Scrap Recycling Market: Competitive Landscape

In June 2022, the development of a multimetal recycling factory in Georgia will cost USD 320 million, according to Aurubis, the largest producer and recycler of copper in Europe. The facility will reduce waste while supplying vital metals to companies that create batteries for electric vehicles and other products and for companies that develop solar and wind energy systems. On the other hand, in May 2019, Vacuum degassing will be added to the intended bar capabilities at Nucor Corporation's bar mill in Darlington, South Carolina, thanks to an item of capital expenditure. Thanks to these capabilities, the mill will be able to produce tailored bar products that meet some of the toughest quality criteria in the sector. In late 2020, the vacuum degassing system is expected to start operating.

A few Non-Ferrous Scrap Recycling Market players include Sims Metal Management Ltd, OmniSource, LLC, REMONDIS SE & Co. KG, Aurubis AG, Kuusakoski, Hindalco Industries Limited, Matalco Inc., SA Recycling LLC, Haibao Machinery Technology Co., Ltd., Wiscon Environmental Technology Inc.

Regional Classification of the Global Non-Ferrous Scrap Recycling Market is Listed Below:

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • Spain
  • U.K.
  • Italy
  • Russia
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

 Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East and Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Non-Ferrous Scrap Recycling Market

  • Non-Ferrous Scrap Recycling Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2022
  • Volume Consumption at Regional and Country Level, 2023 - 2030
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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