Scrap Metal Recycling in the US - Industry Market Research Report

Scrap pile: The world price of steel and nonferrous metals will likely increase, supporting industry growth

The Scrap Metal Recycling industry has exhibited high volatility. Weakened demand and oversupply in world markets have pushed metal prices down. Industries in the supply chain, like metal scrap recyclers, have been forced to drop their selling prices, slashing revenue. Therefore, industry-wide revenue has been decreasing at a CAGR of 2.1% over the past five years, including an estimated 13.2% decrease in the current year, and is expected to total $41.4 billion in 2023, while profit plateaus to 3.9%. Scrap metal recycling facilities collect, process and recycle ferrous metals like iron and steel and nonferrous metals, including aluminum, copper and nickel. Recycling involves sorting, shearing, shredding, torching and baling scrap metal before selling it to downstream metal smelters for further processing. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.