What is Non-Ferrous Scrap Metal - Global Market?
Non-Ferrous Scrap Metal refers to scrap metal that does not contain iron or steel. This includes metals such as copper, aluminum, lead, zinc, nickel, and others. These metals are often used in various industries due to their unique properties. For instance, copper is known for its excellent electrical conductivity, making it a popular choice for electrical wiring. Aluminum, on the other hand, is lightweight and resistant to corrosion, making it ideal for use in the automotive and aerospace industries. Lead is often used in batteries due to its high density and ability to store energy, while zinc is commonly used in galvanizing to prevent rusting. Nickel is a versatile metal used in a variety of applications, from stainless steel production to rechargeable batteries and coinage. Other non-ferrous metals include precious metals like gold and silver, as well as exotic metals like titanium and cobalt. These metals are often recycled and reused, contributing to the global Non-Ferrous Scrap Metal market.
Copper, Aluminum, Lead and Zinc, Nickel, Other in the Non-Ferrous Scrap Metal - Global Market:
Non-Ferrous Scrap Metal is widely used in various sectors such as building & construction, automotive, equipment manufacturing, shipbuilding, consumer appliances, battery, packaging, and others. In the building & construction industry, these metals are used in everything from structural components to electrical wiring and plumbing. In the automotive industry, non-ferrous metals are used in the production of vehicles, particularly in the engine and body parts. Equipment manufacturing also relies heavily on these metals, especially in the production of machinery and tools. In shipbuilding, non-ferrous metals are used due to their resistance to corrosion and strength. Consumer appliances like refrigerators, washing machines, and air conditioners also use these metals. In the battery industry, metals like lead and nickel are used in the production of batteries. Packaging industry uses aluminum extensively due to its lightweight and flexibility. Other industries that use non-ferrous metals include electronics, aerospace, and defense.
Building & Construction, Automotive, Equipment Manufacturing, Shipbuilding, Consumer Appliances, Battery, Packaging, Others in the Non-Ferrous Scrap Metal - Global Market:
The global Non-Ferrous Scrap Metal market, valued at US$ 98130 million in 2022, is projected to reach US$ 118710 million by 2029, growing at a CAGR of 2.7% from 2023 to 2029. The market is dominated by copper, which accounted for 47.71% of the market in 2019, followed by aluminum, which held a 28.55% share. The largest consumer of non-ferrous scrap metal in 2019 was the building & construction industry, accounting for 40.74% of the market. Equipment manufacturing came in second, with a 27.39% share. Geographically, Asia-Pacific is the largest market for non-ferrous scrap metal, accounting for 63.5% of the global market. This can be attributed to the region's rapid industrialization and urbanization, which has led to increased demand for these metals.
| Report Metric | Details |
| Report Name | Non-Ferrous Scrap Metal - Market |
| Forecasted market size in 2029 | US$ 118710 million |
| CAGR | 2.7% |
| Forecasted years | 2024 - 2029 |
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| Global Non-Ferrous Scrap Metal market, Segment by Type: |
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| Global Non-Ferrous Scrap Metal market, by Application |
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| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
