Peterborough, Ontario -- March 15, 2017 -- The metal recycling market is expected to grow around 7 percent by 2022, according to a new report from Market Research Future. The report outlines how the metal recycling market size is expected to cross the $400 billion USD mark by the end of that year.
According to the report, the market growth will be driven by an increasing demand for metals in various industries, including automotive, construction and electronics. The report looks at metal recycling from a global perspective, noting that an increasing concern for the efficient use of natural resources is finally leading many international government bodies to become more active in regulating ore extraction and refining, and the the recycling of metals.
The report says the automotive sector is still dominating the metal recycling market as it requires large volumes for manufacturing car bodies and other components. In turn, as every recycler knows, the manufacturing of automobiles sooner or later leads to the generation of a lot of metal scrap.
The Asia-Pacific region is expected to dominate the metal recycling market in terms of having the highest combined annual growth rate, due to rapid urbanization in countries such as India and China, along with the growth in the disposable income of the people in those countries.
The study tracks three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Metal Recycling Market by its metal type, equipment, application and region.
You can view more results from the report at marketresearchfuture.com/reports/metal-recycling-market-2201.