Metal Recycling Market Market Share

APAC Market Forecast

Metal recycling market in the Asia Pacific region is attributed to hold the largest share of about 32% by the end of 2037. Being one of the world's top manufacturers of steel and aluminum, the area is responsible for the market's expansion. In April 2020, China produced over 85 million metric tons of steel, and in the same month in 2021, that amount rose to about 98 million metric tons. In addition, rising government emphasis on effective waste management and the expanding demand for products are expected to support future market expansion in the region. The National Policy, which the Indian government drafted in 2019, along with the country's increasing steel demand are anticipated to boost ferrous processing domestically, hence boosting the expansion of the APAC market under focus throughout the forecast period.

European Market Statistics

Europe metal recycling market is expected to hold 25% of the revenue share during the forecast period. The growth of the market is due to strict government rules regarding energy use in the region and the growing use of recycled for the production of secondary metals. To cut waste and greenhouse gas emissions, for example, the German government keeps funding recycling and circular economy initiatives. The government started a USD 5 billion investment programme in 2021 to aid in the advancement of new recycling technologies and their transfer. Throughout the projected period, the government's and service providers' actions are probably going to encourage the German market expansion.