Report Code: A15749 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Non-ferrous Scrap Recycling Market
Request Now !Non-ferrous metals are metals or alloys that do not include large amounts of iron. Non-ferrous metals are used for a variety of reasons, including higher conductivity, lower weight, non-magnetic properties, and corrosion resistance. They are more expensive than ferrous metals in general. Nonferrous minerals are also used in the iron and steel industries. For example, bauxite is utilized as a flux in blast furnaces, while wolframite, pyrolusite, and chromite are used to make ferrous alloys. During the forecast period, the ferrous sector is predicted to grow at a faster rate than the rest of the market. Steel scrap is one of the most often recycled ferrous metals on the planet. This scrap is made up of objects that have outlived their usefulness as well as scrap generated during manufacturing processes. The building and construction industry is the fastest-growing segment of the metal recycling market. The goal to reduce the environmental impact of mining metals has prompted the usage of recycled metals in the building and construction industry.
COVID-19 Impact analysis
Top Impacting Factors.
Nonferrous metals such as aluminum, lead, nickel, copper, and zinc can be recycled numerous times without losing their chemical or physical properties. This capability increases demand for nonferrous scrap, which is collected from a number of end-use industries and processed at recycling facilities before being reused. A market growth element is increasing society awareness of environmental, economic, and energy conservation in terms of recycling these metals. Non-ferrous metals account for a lesser volume share of the sector than ferrous metals, but they account for a bigger value share. The large revenue share is due to a higher market price than ferrous, which is another reason to concentrate on recycling in order to reduce manufacturing costs. Consumers are encouraged to recycle because they can get a fair price from non-ferrous scrap dealers in exchange for their old things, which can subsequently be utilized to extract metals such as aluminum and copper, thanks to the high cost of these metals.
Market Trends
Key Benefits of the Report
Non-Ferrous Scrap Recycling Market Report Highlights
Aspects | Details |
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By Type |
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By Scrap type |
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By Equipment |
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Key Market Players | Hindalco Industries Limited, OmniSource,LLC, Matalco Inc., Sims Metal Management Ltd, Kuusakoski, Haibao Machinery Technology Co., Ltd., SA Recycling LLC, Wiscon Environmental Technology Inc., REMONDIS SE & Co. KG, Aurubis AG |
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