Metal recycling has become a key pillar for sustainability and the circular economy globally. Several studies highlight the significant growth of this sector, especially in emerging countries with high development potential in demand for scrap and recyclable materials.
🌏 Asia-Pacific: the engine of global recycling
According to the Grand View Research report, the Asia-Pacific region dominated the global metal recycling market in 2023, accounting for more than 51% of revenues. This leadership is attributed to robust metal production, government policies that promote sustainable practices and a well-established recycling industry. China, in particular, is the world’s largest producer and consumer of metals, relying on the secondary metal market to meet existing industrial demand.
On the other hand, India is emerging as a key factor in the expansion of metal recycling, driven by accelerated urbanization and large-scale infrastructure projects.
🌍 Latin America and Africa: sustained growth
In Latin America, the metal recycling market showed a significant share in 2023, positively influenced by growing demand in sectors such as automotive and construction. In addition, governments in the region are focusing on the adoption of electric vehicles to meet carbon-reduction targets, which is expected to boost demand for metal recycling.
In Africa, countries such as South Africa and Nigeria are experiencing remarkable growth in metal recycling, driven by ongoing industrialization and urbanization. Governments are diversifying investments into other industries to increase the contribution of manufacturing to their economies.
📈 Global market projections
According to the report, the global metal recycling market is projected to reach USD 1,135.28 billion by 2030, growing at a compound annual rate of 4.0% since 2024. This growth is driven by the growing demand for metals, the focus on conserving natural resources and reducing greenhouse gas emissions.
Emerging markets are playing a crucial role in the growth of global metal recycling. Factors such as urbanization, favourable government policies and the need for sustainable practices are driving demand for scrap and recyclable materials. For companies and professionals in the sector, these countries represent significant opportunities to invest and expand operations in the field of metal recycling.
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