Recycled Metal Market
REPORT DESCRIPTION
Recycled Metal Market ( Product Segment - Ferrous , Non-ferrous ; End-user - Building & Construction , Automotive , Electrical & Electronics , Shipbuilding , Industrial Machinery ) - Global Industry Analysis , Size , Share , Growth , Trends , and Forecast 2016 – 2024
The highly fragmented vendor landscape of the global recycled metal market features intense competition , a rather low degree of profitability , and high exit barriers owing to the high initial investment required to set up a new recycling facility , observes Transparency Market Research in a recent report . The report states that the top three vendors in the market , namely OmniSource Corporation , European Recycled Metal , and Sims Metal Management Ltd ., collectively accounted for a mere 14.5 % of the market in 2015 , with small- and medium-sized regional and domestic vendors holding a massive 78.6 %.
In addition to intense competition and high exit barriers , the entry of new companies in the market is also highly challenging owing to the same factors . The high investment required at the time of setting up new recycling facilities , for setting up ties with suppliers of raw materials , and for installing complex machineries is expected to keep the threat of new entrants low in the market .
Transparency Market Research estimates that the global recycled metal market will exhibit a 4.1 % CAGR from 2016 to 2024 , rising from a valuation of US $ 312.9 bn in 2016 to US $ 476.2 bn by 2024 .
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Ferrous Metal to Account for Massive Chunk in Revenue of Overall Market In terms of product , recycled ferrous metals accounted for a massive 89.0 % of the global recycled metal market . Ferrous metals such as cast iron , wrought iron , and iron alloys such as carbon steel , mild steel , and stainless steel are extensively used across a number of applications in the manufacture of construction materials , electrical devices , vehicles , equipment , and industrial machineries . Much of the scrap obtained from sources such as discarded electronics , electrical components , end of life vehicles , and rejected machineries constitutes ferrous metals . As a result , the
Transparency Market Research
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