The top three vendors of recycled metal, namely, Sims Metal
Management Ltd., European Recycled Metal, and OmniSource Corporation,
together account for a mere 14.5% of the global market in 2015, with
smaller players making up for an incredible 78.6%. This clearly
indicates the high level of fragmentation in the recycled metal
market.
Transparency Market Research has observed that given the presence of
a number of players of various shares and sizes in the global market,
the intensity of competition among established vendors is likely to
remain high. “Large capital investments and fixed costs made at
initial stages have rendered exiting this market extremely
difficult,” a TMR analyst states.
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Sample Of Recycled Metal Market Research Report At:
“Moreover, the degree of market profitability is rather low. These
factors have resulted in the intense competition in the recycled
metal market.”
In addition to high exit barriers, the entry of new players is just
as challenging owing to the same reasons. “High initial capital
investment for the setting up of new recycling facilities, for the
installation of equipment and machinery, and for access to raw
material and appropriate technologies mean that new entrants in the
recycled metal market are not likely to pose much of a threat to
existing vendors,” the analyst observes.
Demand
for Recycled Metal Surges with Rapid Pace of Urbanization and
Industrialization
Recycled metals find application in several end-use industries such
as building and construction, electrical and electronics, industrial
machinery, automotive, and shipbuilding. The building and
construction sector is the leading consumer of recycled metals,
followed by the automotive industry.
“The demand for recycled metal in the building and construction
industry has risen owing to the surge in construction-related
activities, especially in emerging economies,” the author of the
study notes. “This can be attributed to the rapid pace of
urbanization and industrialization in these developing regions and
the surge in infrastructure development.”
The demand for recycled metals in the automotive sector is likely to
increase at the fastest pace from 2016 to 2024. The segment is
anticipated to register a 4.5% CAGR during the forecast period,
driven by the rising demand for recycled steel, iron, and aluminum.
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Steady
Growth in Store for Global Market by Volume and Value
The market for recycled metals is a massive one. The market is
estimated to be worth US$476.2 bn by the end of the forecast period,
increasing from US$312.9 bn in 2016 at a 4.8% CAGR therein. The
global demand stands to grow at a 4.1% CAGR from 2016 to 2024. Asia
Pacific is the largest regional market for recycled metals enjoying a
volume share of 45.2% in 2015. By product, ferrous metals are
estimated to continue leading the recycled metals market in terms of
volume, registering a 4.1% CAGR during the forecast period.
This review is based on the findings of a TMR report titled “Recycled
Metal Market: Global Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2015-2023.”
The
recycled metal market has been divided into the following segment
Recycled
Metal Market – Product Segment Analysis
- Ferrous
- Non-ferrous
- Others (Including Precious Metals, etc.)
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