Lucintel's latest market report analyzed that metal recycling provides attractive opportunities in the building and construction, automotive, packaging, shipbuilding, electronics and electrical equipment industries. The metal recycling market is expected to reach $XX billion by 2028 with a CAGR of 5% to 7%. In this market, ferrous metal is the largest segment by metal type, whereas building and construction is largest by end use industry.
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Based on metal type, the metal recycling market is segmented into ferrous metal and non-ferrous metal. The ferrous metal segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to because the iron and steel scraps are widely recycled ferrous metals used in the world, and large-scale utilization of metals in the construction, automotive, and consumer goods industries.
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The Metal Recycling Market is marked by the presence of several big and small players. Some of the prominent players offering metal recycling include Nucor, Commercial Metals, Aurubis AG, Arcelormittal, SMIS Metal Management, European Metal Recycling, Tata Steel, Baosteel, Remondis, Dowa Holdings.
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