According to the Future Market Insights report, the European market for recycled scrap metal is valued at US$ 29.8 Billion in 2021. By the end of 2032, the market is expected to reach a market worth US$ 66.2 Billion, growing steadily with a CAGR of 5.3% during 2022-2032.  The global increase in urbanization and industrialization is one of the main factors driving the growth of the recycled scrap metal industry in Europe.

The market for recycled scrap metal is growing as a result of the existence of rules and regulations that are enforced by European governments, in addition to the broad adoption of the method by manufacturers for obtaining raw materials to build completed goods without sacrificing their qualities. For instance, the recycling industry in Europe creates a gross domestic product of $107.8 billion. The necessity to minimize greenhouse gas emissions and the general public’s growing environmental responsibility are driving the growth of the European metal recycling industry.

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To fulfill the increased demand for metals in residential structures, the rise of the construction as well as automotive sectors is having a favorable effect on the target market. Additionally, the need for scrap metal recycling is being supported by the scarcity of earth metals and the high cost of mining the earth. Additionally, the need for metal recycling is being fueled by growing worries over the state of the environment and greenhouse gas emissions. Since recycling metal lowers emissions and saves energy, achieving global emission objectives has never been more important. The Bureau of International Recycling estimates that scrap is used to make 40% of the steel produced. Therefore, successful recycling decreased the need to mine new metals. Such developments are expected to boost the demand for recycled scrap metals in Europe during 2022-2032.

Key Takeaways

• By the end of 2022, it is anticipated that the European market for recycled scrap metal would be worth around US$ 38.8 Billion.
• Non-ferrous metals will have 44.6% of the market share by metal type in 2022.
• Over 48% of the shares by source type are expected to be taken up by post-consumer scrap metal usage.
• With a CAGR of 5.2% from 2022 to 2032, the transportation sector will dominate the market in terms of end-use.

Competitive Landscape

The key players present in the European recycled scrap metal market are

• Aurubis AG
• Kuusakoski
• Regulator-Cetrisa
• Rawlings Manufacturing, Inc.
• Guidetti Recycling Systems.

Through mergers, strategic alliances, acquisitions, and partnerships, leading firms in the recycled scrap metal sector are expanding their global footprint. The use of waste materials in industrial processes is being increased by large organizations to cut back on carbon emissions.

Recent Developments

• In 2021, a deal was signed between Aurubis AG and the Düsseldorf-based SMS Company for the development of a multi-metal recycling facility in the United States. With this agreement, the two businesses commit to collaborate closely on the Greenfield development of Aurubis Richmond, with the SMS group creating, delivering, and putting into practice the facility idea.
• A cutting-edge piece of machinery for processing complicated recyclable material to recover nickel, copper, tin, precious metals, zinc, and platinum-group metals is the top-blown rotary converter (TBRC), which was developed by the SMS group. Additional facilities for sampling and an off-cleanup are also included in the delivery’s scope. To best satisfy the requirements for building a contemporary recycling facility, both partners are providing their knowledge to attain the requirements to achieve a sustainable circular economy.

Market Segmentation

By Metal Type:

• Ferrous Metals
• Iron
• Steel
• Non-Ferrous Metals
• Aluminum
• Copper
• Precious Metal
• Tin
• Zinc
• Others

By Source Type:

• Production Scrap
• Post-Consumer Scrap

By End-Use:

• Transportation
• Building Construction
• Consumer Electronics
• Packaging
• Equipment Tools
• Art, Decor Home Furnishings
• Jewelry