Recycled Metal Market
The demand for recycled metals in the automotive sector is likely to increase at the fastest pace from 2016 to 2024. The segment is anticipated to register a 4.5 % CAGR during the forecast period, driven by the rising demand for recycled steel, iron, and aluminum.
Steady Growth in Store for Global Market by Volume and Value
The market for recycled metals is a massive one. The market is estimated to be worth US $ 476.2 bn by the end of the forecast period, increasing from US $ 312.9 bn in 2016 at a 4.8 % CAGR therein. The global demand stands to grow at a 4.1 % CAGR from 2016 to 2024. Asia Pacific is the largest regional market for recycled metals enjoying a volume share of 45.2 % in 2015. By product, ferrous metals are estimated to continue leading the recycled metals market in terms of volume, registering a 4.1 % CAGR during the forecast period.
This review is based on the findings of a TMR report titled“ Recycled Metal Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015-2023.”
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The recycled metal market has been divided into the following segment
Recycled Metal Market – Product Segment Analysis-Ferrous-Non-ferrous-Others( Including Precious Metals, etc.)
Recycled Metal Market – End-user Analysis-Building & Construction-Automotive-Electrical & Electronics
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