The metal recycling market size is projected to grow from USD 551.9 billion in 2024 and is projected to reach USD 767.9 Billion by 2029, at a CAGR of 6.8%. The metal recyclings market is witnessing a significant surge, largely propelled by environmental sustainability, regulatory requirements, resource conservation, economic incentives, and advancements in recycling technology. The Asia Pacific region, particularly China, stands out as the fastest-growing market due to its large manufacturing sector generates significant metal scrap, driving the demand for recycling.
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The key players in the metal recycling market are The Arc welding torch market comprises key manufacturers such as are ArcelorMittal (Luxembourg), Nucor (US), CMC (US), Sims Limited (Australia), Aurubis AG (Germany), Dowa Holdings Co., Ltd. (Japan), Tata Steel (India), Radius Recycling, Inc. (US), European Metal Recycling Ltd. (UK), and Upstate Shredding – Weitsman Recycling (US) among others. These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and contract & agreement between 2019 and 2024, to enhance their market shares and expand their global presence.
ArcelorMittal, a prominent steel and mining corporation globally, emerged in 2007 following the merger of Mittal Steel Company N.V. and Arcelor, which had both grown significantly through various acquisitions over the years. As the largest steel producer in Europe and among the top players in the Americas, ArcelorMittal extends its reach into Asia, particularly India, through the joint venture AMNS India. Operating steel-making facilities across 15 nations, including 37 integrated and mini-mill plants, ArcelorMittal caters primarily to local markets and serves a diverse range of industries in about 140 countries, such as automotive, appliance, engineering, construction, and machinery.
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Nucor Nucor is a company that produces steel and steel-related products. It also processes ferrous and nonferrous metals. Nucor is a well-known recycler in North America that primarily uses scrap steel as its major raw material for the manufacturing of steel and steel products. Steel mills, steel products, and raw materials are the three main business segments in which the company operates. In the steel mills business, Nucor maintains an effective inventory management to satisfy expected demands and custom produces hot-rolled, cold-rolled, and galvanised sheet steel to meet specific customer specifications. Both ferrous and non-ferrous scrap metal are handled by the company in its raw materials section. The finished metal is either sold to outside clients or used in the steel mill segment. Nucor also provides material processing and transportation services to scrap metal consumers. Ferrous scraps are supplied to foundries and electric and furnace steel mills, while non-ferrous scraps are sent to aluminium can manufacturers, smelters and steel mills. The David J. Joseph Company (DJJ), a fully owned subsidiary of Nucor, leads the industry in ferrous and nonferrous metal recycling, transportation services, and scrap metal brokerage. DJJ has the ability to sort and recycle more than 5 million tonnes of ferrous and nonferrous scrap annually. DJJ operates 70 scrap recycling facilities and 6 regional businesses around the US.
CMC produces, recycles, and markets steel and metal products along with its subsidiaries. It maintains a vast and well-established global network of steel mills, fabrication, processing, recycling, and construction product warehouses as well as distribution offices. CMC operates within two main segments: North America and Europe. The North American segment is comprised of a network of recycling facilities, steel mills, and fabrication businesses. In the meanwhile, the Europe sector consists of a Polish fabrication facility, an EAF micro mill, and a network of recycling facilities.
- In March 2023, ArcelorMittal successfully acquired Companhia Siderúrgica do Pecém (“CSP”) (renamed ArcelorMittal Pecém) in Brazil after obtaining all necessary regulatory approvals with the deal size USD 2.2 billion.
- In January 2023, Nucor finalized the investment of around USD 650 million to enhance and expand production capacity at its Gallatin flat-rolled sheet mill in Ghent, Kentucky. This project has boosted the mill’s production capability from roughly 1,600,000 tons to about 2,800,000 tons annually.
- In July 2023, CMC declared that it received a permit from the West Virginia Department of Environmental Protection, enabling the commencement of construction for its fourth state-of-the-art micro mill. This permit marks a significant milestone in its Steel West Virginia micro mill project.
- In August, 2023, Sims Metal announced its agreement to purchase the assets of Baltimore Scrap Corp (BSC), a metal recycler based in the US, along with its affiliated entities. The acquisition is expected to be finalized in October 2023, pending the fulfillment or waiver of standard closing conditions, including necessary regulatory clearances.
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