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I AgreeAnalysis of Europe Scrap Metal Recycling market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The Europe scrap metal recycling market is estimated to surpass US$ 29.1 billion by the end of 2032, up from and market valuation of US$ 16.9 billion at present. The market is expected to expand at a CAGR of 5.5% over the forecast years 2022-2032.
Report Attributes |
Details |
---|---|
Europe Scrap Metal Recycling Market Size (2021A) |
US$ 16.1 Billion |
Estimated Market Value (2022E) |
US$ 16.9 Billion |
Forecasted Market Value (2032F) |
US$ 29.1 Billion |
Europe Market Growth Rate (2022-2032) |
5.5% CAGR |
Germany Market Share (2021) |
~22.3% |
Germany Growth Rate (2022-2032) |
~6.2% CAGR |
Market Share of Top 5 Companies |
~35% |
Key Companies Profiled |
|
A majority of Europe's scrap shipments contain aluminium and copper, as well as more than 1.3 million tonnes of electronic devices. Metals are valuable resources that can be reprocessed several times and do not degrade in quality. Scrap metal recycling involves the recovery of scrap metal and is an energy-efficient method to process it from end-of-life structures to be re-introduced to produce new goods.
Scrap metal recycling carries enormous socio-economic and environmental benefits along with benefits from international trade as well. Metal recycling reduces carbon emissions, leads to efficient utilization of resources, and also caters to varied demands from end-use industries such as automotive, building & construction, shipbuilding, etc.
All these beneficial factors are likely to propel the scrap metal recycling market in Europe over the coming years.
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Throughout the historical years (2017-2021), the European scrap metal recycling market witnessed 3.8% CAGR and is forecasted to expand at a higher CAGR of 5.5% during the forecast years of 2022-2032.
The market is poised to generate an absolute dollar opportunity worth US$ 12.1 billion during the assessment period. Growth of the scrap metal recycling market in Europe is the outcome of the humble start of large companies from small business origins, while a few are the result of the last decade’s consolidation movement.
Market share analysis based on metal type and country is provided in a nutshell in the image. Under the metal type segment, ferrous scrap metal dominated the market with 64.6% share in 2021.
“Environmental & Socio-Economic Benefits to Fuel Scrap Metal Recycling in Europe”
Europe produces only 3% of primary raw materials to fulfill the growing demand for metals, and the metal recycling value chain of Europe contributes to reducing the dependency on imported materials.
The recycling of metals is a laborious task, thereby creating a wide range of job opportunities for skilled workers who perform numerous functions such as collecting, sorting, recycling, etc., thereby providing socio-economic benefits in scrap metal recycling.
In addition, scrap metal recycling also carries environmental benefits, as it contributes to a circular economy and climate policy. Recycling metals can reduce landfills of metals and can save up to 20 times the energy needs for the extraction of metals, directly impacting the costs of metals re-processing.
Also, producing metals from recycled metals reduces CO2 emissions and reduces water use by 40%, water pollution by 76%, and air pollution by 80%. As a result, all these factors are poised to positively impact scrap metal recycling market growth across Europe during the forecast years.
“High Metal Demand from Construction & Automotive Sectors in Europe”
Growth of the construction and automotive industries is creating a positive impact on the target market growth to meet the rising demand for metals in residential buildings. Also, limited availability of earth metals and high cost of mining earth are supporting scrap metal recycling demand.
“Need to Reduce Pollution & Conserve Energy”
In addition, rising concerns about deteriorating air quality and greenhouse gas emissions are also fueling the need for metal recycling. As metal recycling reduces pollution and conserves energy, it has become highly crucial to meet global emission targets. 40% of the steel produced is made from scrap, according to the Bureau of International Recycling. Thus, efficient recycling reduced the requirement to extract new metals.
The conflict between Russia and Ukraine is likely to dampen the commodity market, especially those that are traded across borders, including scrap metal. Ukraine is a major steel player and is the 13th largest iron and steel ore producer, among 64 countries reporting to Worldsteel.
However, the Russian invasion is likely to result in sanctions, affecting financing companies in the scrap metal supply chain. Also, if the gas flow from Russia is reduced, it may lead to higher energy costs, which is one of the many side-effects of this crisis.
According to customs data quoted by Davis Index, Russian exports of ferrous metal scrap were down 12% in 2021.
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“Russia & Germany to Remain Market Leaders in Europe”
Germany’s scrap metal recycling market and Russia’s scrap metal recycling market hold 22.3% and 19.1% shares, respectively, in the overall market.
Owing to factors such as officials seeking to prioritize scrap metal recycling on the back of seeking a circular economy and paving the way for emission reduction strategies, the markets in Germany and Russia are projected to rise at the rate of 6.2% and 5.9% over the assessment period.
Recycling ferrous and non-ferrous metals carries special importance for the national economy. Germany is the production hub for many industries and is dependent on the import of raw materials. Recycling scrap metal in Germany will save on energy costs and reduce CO2 emissions by making use of recycled raw materials in production, thereby fueling market growth.
“Ferrous Scrap Metal Recycling Dominates the European Region”
The European scrap metal recycling market under metal type is segmented into ferrous scrap metals and non-ferrous scrap metals.
Ferrous scrap metals dominate with 64.6% share in the overall market. Use of scrap metals in steel production is now an important part of the steel industry as scrap metals are spin-offs of steel manufacturing, coming from end-of-life products. Furthermore, ferrous scrap metal recycling is valuable as it is not altered and is easy to recycle because of less processing, thereby promoting segmental growth.
As such, the ferrous scrap metals segment is projected to expand at 5.7% CAGR through.
On the other hand, the non-ferrous metals segment holds 35.4% share in the market and is projected to rise at the rate of 5.3% during the forecast years of 2022-2032. Non-ferrous scrap metals also carry the innate property of not losing physical and chemical properties and not degrading with time, resulting in an endless number of recycles.
“Europe Metal Scrap Recycling Market Led by Huge Automotive End-use Sector”
The European metal scrap recycling market, under end user, is segmented into industries of automotive, shipbuilding, construction, mining, energy & power, railway & transport, aerospace & defence, oil & gas, heavy equipment, and others.
Amongst all these industries, the automotive industry dominates the market as it holds 24.7% market share. This industry makes extensive use of scrap metals, which is fueling segmental demand and growth. The automotive end-user segment is likely to register a CAGR of 6.3% over the forecast years 2022-2032.
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Key market players in the Europe scrap metal recycling market are resorting to technological advancements to revolutionize the process of metal recycling. They are embracing ground-breaking advancements such as the incorporation of X-ray fluorescence (XRF) technology in metal recycling, which helps in rapidly analyzing chemical composition at material transfer points and guaranteeing product quality.
Market Developments :
Fact.MR has provided detailed information about the price points of key manufacturers in the scrap metal recycling market positioned across countries in Europe, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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The Europe scrap metal recycling market is estimated at US$ 16.9 billion in 2022 and is anticipated to reach US$ 29.1 billion by 2032-end.
During 2017-2021, the European market for scrap metal recycling expand at 3.8% CAGR.
Some of the prominent players in the scrap metal recycling market in Europe are ArcelorMittal, Aurubis AG, Kuusakoski Oy, and Kruger GmbH.
Germany tops the European scrap metal recycling market with 22.3% share.
Ferrous scrap metal recycling accounts for 64.6% market share in Europe.