Global Rapid Diagnostics Market
September 29, 2025
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Key Market Insights:
The global metal recycling market was valued at USD 63.7 billion in 2024 and is projected to reach approximately USD 96.5 billion by 2031, growing at a CAGR of 6.1% during the forecast period. The market involves systematic recovery of scrap metals both ferrous and non-ferrous for reuse in sectors such as automotive, construction, industrial machinery, shipbuilding, and consumer goods manufacturing. Increasing demand for eco-friendly manufacturing processes, raw material conservation, and energy-efficient production methods are driving growth globally.
Latest Trends:
Decarbonisation, Automation, and Urban Mining Accelerate Innovation
Global trends in decarbonisation and energy efficiency are reshaping the metal recycling landscape. As part of their sustainability goals, global manufacturers are committing to higher recycled metal content. For instance, ArcelorMittal announced the expansion of its scrap-based steelmaking operations in Spain to lower carbon emissions. Additionally, technology is also transforming operations. AI-based robotic sorting systems, such as those from ZenRobotics and TOMRA, are enhancing scrap quality control and throughput. These technologies help separate contaminated, mixed-metal scrap, especially from construction and electronic waste. Urban mining is emerging as a key method for sourcing rare metals like lithium, cobalt, and copper from used electronics, with Umicore (Belgium) and TES (Singapore) scaling urban mining initiatives.
Driving Factors:
Manufacturing Recovery, Regulatory Push, and Green Procurement Drive Growth
Global manufacturing recovery post-pandemic, particularly in construction and automotive sectors is a significant growth driver. Recycled metals are being used in lightweight vehicle components and green buildings. For example, Tesla’s Gigafactory in Berlin sources aluminum and steel from European recycling partners to support its circular production chain. Furthermore, Governments are also legislating for sustainability. The EU’s Green Deal mandates increased use of secondary raw materials. In India, the National Framework for Metal Recycling aims to formalize and expand the sector, with incentives for new plants and better scrap collection systems. The rising cost of virgin metal ores has also made recycled alternatives more commercially viable.
Restraining Factors:
Fragmented Supply Chains and Fluctuating Scrap Prices Limit Growth
The industry faces constraints from the fragmented nature of global scrap supply chains. Informal sector dominance in many developing countries leads to inconsistent scrap quality, low collection rates, and environmental hazards. Further, global metal prices particularly for aluminium and copper—are subject to volatility due to geopolitical events, mining output fluctuations, and commodity speculation.
Segmental Analysis
By Types:
Ferrous Metals Segment Leads Due to High Demand in Construction and Automotive Sectors
The metal recycling market is broadly categorized into ferrous and non-ferrous metals. Ferrous metals, such as steel and iron, account for the largest share due to their widespread use in construction, transportation, and heavy equipment manufacturing. The demand is sustained by large-scale infrastructure projects across emerging markets and the use of recycled steel in vehicle manufacturing. For instance, India’s Ministry of Steel announced the use of recycled steel for over 30% of government construction projects.
By Scrap Type:
Old Scrap Dominates Due to Availability from Industrial and Consumer
Waste Scrap metal is classified into old and new scrap. Old scrap—recovered from end-of-life products such as buildings, vehicles, and appliances—represents the dominant segment. The growing number of vehicles reaching retirement age and urban demolition activities contribute to a steady stream of old scrap. Europe leads in this segment, with organized municipal collection and urban mining initiatives enhancing volumes.
By Equipment:
Shredders Segment Holds Largest Share Owing to High-Volume Processing Capabilities
Recycling equipment includes shredders, shears, briquetting machines, and granulating machines. Shredders dominate due to their critical role in reducing large scrap pieces into manageable sizes. These machines are widely used in both ferrous and non-ferrous processing plants. Industrial shredders used in recycling are robust, high-capacity machines designed for heavy-duty applications. They come equipped with various cutting system configurations, such as horizontal shaft, vertical shaft, single-shaft, dual-shaft, three-shaft, and four-shaft mechanisms, tailored to handle different types of materials efficiently.
By End-User:
Construction Sector Remains Key End-User Due to Demand for Structural Steel and Rebar
End-users include construction, automotive, shipbuilding, packaging, and machinery manufacturing. Construction leads the segment owing to the large-scale use of recycled steel and aluminum in infrastructure and residential projects. Regulatory mandates and cost benefits are driving usage. Additionally, automotive is the second-largest segment, with OEMs incorporating recycled metals into EV production for sustainability compliance.
Regional Insights:
The Metal Recycling Market is assessed across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Industry Insights:
Digitalization and Policy-Driven Scaling of Infrastructure
Digital tracking systems for scrap flows are improving transparency in the value chain. Blockchain-based tracking is being explored for high-value metals to avoid theft and improve trust among buyers. For instance, Tata Steel has enhanced transparency in the scrap value chain through its digital initiative, the FerroHaat™ App, launched in August 2020. This mobile application serves as a 24×7 marketplace for sourcing steel scrap, aiming to organize India’s fragmented scrap market and provide a reliable supply of scrap metal for the steel industry.
On the policy side, governments are incentivizing infrastructure investment. For instance, in 2024, Brazil’s Ministry of Industry announced a $300 million fund to support metal recycling SMEs through equipment subsidies and training programs.
Key Industry Players:
Key Developments:
Segmentation:
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By Scrap Type:
By Equipment:
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