Dublin, Ireland:, June 20, 2022 (GLOBE NEWSWIRE) -- The Europe scrap metal recycling market is projected to expand at 5.5% CAGR to be valued at US$ 29.1 billion by 2032, as per the market research report released by Fact.MR, a market research and competitive intelligence provider. The market registered a historical growth of 3.8% during the 2017-2021 period.
Strong economic growth helps particular sectors to grow at an accelerated rate. With the rise in commercial and residential projects, such as new industrial plants, the scrap metal industry is winning as this creates challenges for disposing scrap waste. This factor is likely to generate additional revenue opportunities for prominent scrap metal recycling solution providers in Europe over the coming years.
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Key Takeaways from Market Study
- The Europe scrap metal recycling market is projected to expand at a CAGR of 5.5% to reach a valuation of US$ 29.1 billion by the end of 2032.
- Through the years 2017-2021, the market witnessed 3.8% CAGR.
- Ferrous scrap metals account for 64.6% share in the overall market.
- The old scrap segment holds 53.7% share in the market while new scrap accounts for 46.3% market share.
- The automotive end-use industry leads the market with 24.7% market share.
- Russia enjoys the largest pie with 22.3% market share, and is projected to rise at 6.2% CAGR over the forecast years.
- Together, Germany and Russia are likely to represent 41.4% of the overall market share in 2022.
Development of Market
Key players in the European metal scrap recycling industry are focusing on innovation and incorporating product development technologies, which are poised to create lucrative market opportunities over the coming years.
Moreover, market players are also eyeing resource efficiency and are investing in intelligent sourcing systems that have the ability to boost production capacity and allow for additional revenues.
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Europe Scrap Metal Recycling Industry Survey by Category
- Europe Scrap Metal Recycling Market by Metal Type :
- Ferrous Scrap Metal Recycling
- Stainless Steel
- Carbon Steel
- Mild Steel
- Cast Iron
- Non-Ferrous Scrap Metal Recycling
- Aluminium
- Copper
- Lead
- Nickel
- Zinc
- Brass
- Tin
- Gold
- Others
- Ferrous Scrap Metal Recycling
- Europe Scrap Metal Recycling Market by Scrap :
- New Scrap Metal Recycling
- Old Scrap Metal Recycling
- Europe Scrap Metal Recycling Market by Recycling Type :
- Shearing
- Shredding
- Bailing
- Europe Scrap Metal Recycling Market by End User :
- Automotive Industry
- Shipbuilding Industry
- Construction Industry
- Mining Industry
- Energy & Power Industry
- Railway & Transportation
- Aerospace & Defense
- Oil & Gas Industry
- Heavy Equipment Industry
- Others
- Europe Scrap Metal Recycling Market by Country :
- Germany
- Italy
- France
- Spain
- U.K.
- NORDICS
- BENELUX
- Rest of Europe
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Europe scrap metal recycling market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by metal type (ferrous (stainless steel, carbon steel, mild steel, cast iron), non-ferrous (aluminum, copper, lead, nickel, zinc, brass, tin, gold, others)), scrap (new scrap, old scrap), recycling type (shearing, shredding, bailing), and end user (automotive industry, shipbuilding industry, construction industry, mining industry, energy & power industry, railway & transportation, aerospace & defense, oil & gas industry, heavy equipment industry, others), across major countries of Europe (Germany, Italy, France, Spain, U.K., Russia, BENELUX, and the Rest of Europe).
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