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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