What is Global Non-Ferrous Scrap Market?
The Global Non-Ferrous Scrap Market is a vast and dynamic sector that deals with the trading and recycling of non-ferrous metals. Non-ferrous metals are those that do not contain iron in appreciable amounts, making them highly resistant to corrosion and wear. These include metals like copper, aluminum, lead, zinc, nickel, and others. The market for these scrap metals is global, meaning it spans across all continents and countries, with transactions happening both locally and internationally. The value of this market was estimated to be around US$ 101000 million in 2022. It is projected to reach US$ 118510 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 2.7% from 2023 to 2029. This growth is driven by the increasing demand for these metals in various industries and the rising awareness about the importance of recycling for environmental sustainability. However, the market dynamics can be influenced by several factors, including fluctuations in the prices of these metals, changes in trade policies, and technological advancements in metal recycling processes.
Copper, Aluminum, Lead and Zinc, Nickel, Others in the Global Non-Ferrous Scrap Market:
The Global Non-Ferrous Scrap Market is segmented based on the type of metal. These include copper, aluminum, lead, zinc, nickel, and others. Copper accounted for the largest share of the market in 2019, with a share of 47.71%. This can be attributed to the wide range of applications of copper in various industries, including electrical and electronics, construction, and transportation. Aluminum came in second, accounting for 28.55% of the market. Aluminum is lightweight, corrosion-resistant, and highly conductive, making it ideal for use in industries like automotive, aerospace, and packaging. Lead and zinc also have significant shares in the market, owing to their use in industries like battery manufacturing and galvanizing. Nickel and other non-ferrous metals also contribute to the market, although their shares are relatively smaller.
Battery, Packaging, Automotive, Shipbuilding, Consumer Appliances, Building & Construction, Equipment Manufacturing, Others in the Global Non-Ferrous Scrap Market:
The Global Non-Ferrous Scrap Market also varies based on the application. These metals are used in a wide range of industries, including battery manufacturing, packaging, automotive, shipbuilding, consumer appliances, building and construction, equipment manufacturing, and others. In 2019, the building and construction industry accounted for the largest share of the market, with a share of 40.74%. This is due to the extensive use of non-ferrous metals like copper and aluminum in construction activities. Equipment manufacturing came in second, with a share of 27.39%. Non-ferrous metals are used in the manufacturing of various types of equipment, including machinery, tools, and electrical and electronic devices. Other industries like automotive, shipbuilding, and consumer appliances also use these metals extensively, contributing to the market.
Global Non-Ferrous Scrap Market Outlook:
The Global Non-Ferrous Scrap Market is also segmented based on geography. Asia-Pacific is the largest sales market, accounting for 63.5% of the market in 2019. This can be attributed to the rapid industrialization and urbanization in countries like China and India, which has led to an increase in the demand for non-ferrous metals. Europe and North America followed, with shares of 17.91% and 15.59% respectively. These regions have well-established industries that use non-ferrous metals extensively, contributing to their shares in the market. However, the market dynamics can vary across different regions, influenced by factors like regional industrial policies, economic conditions, and technological advancements.
| Report Metric | Details |
| Report Name | Non-Ferrous Scrap Market |
| Accounted market size in 2022 | US$ 101000 in million |
| Forecasted market size in 2029 | US$ 118510 million |
| CAGR | 2.7% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Sims Metal Management, OmniSource, European Metal Recycling, Schnitzer Steel Industries, Hanwa, Commercial Metals, Stena Metal International, Yechiu Group, Chiho Environmental Group, Nucor, Cohen, DOWA |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
