Scrap
Market is classified on the basis of scrap type and geography. Scrap
comprises recyclable materials left over from product manufacturing and
consumption, such as parts of vehicles, building materials, excess materials
and others. Unlike waste, scrap has economic value, particularly recovered
metals, and non-metallic materials are also recovered for recycling.
The factors that propel the growth of the Scrap Market
include rise in automobile production to spur demand for steel and recycled
steel scrap used in automobiles. In addition, the emerging regions will also
have a positive impact on the growth of the market. On the other hand, there
are factors that may hamper the market growth include harmful material present
in scrap causing death, injury, or environmental hazard.
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Scrap Market is classified on
the basis of scrap type as recycling steel and iron scrap, recycling copper
scrap, recycling aluminum scrap, recycling lead scrap, and recycling other
nonferrous scrap metals. Based on geography, the global market spans as North
America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and
Middle East and Africa.
The North American region
consists of the U.S., and Canada. Latin America region consists of Mexico and
Brazil. The Western European region consists of Germany, Italy, France, England
and Spain. The Eastern European region consists of Poland and Russia. Asia
Pacific region consists of China, India, ASEAN, Australia & New Zealand.
The Middle East and Africa region consists of GCC, South Africa and North
Africa. Middle-East and APAC regions encompass a larger margin in the global
market owing to tremendous market size and variety of large and small products.
A North America and European region are expected to follow the trend owing to
innovation in technology and is anticipated to rise at a higher CAGR in the
forecast period.
Some of the key players that
fuel the growth of the Scrap Industry include Sims Metal Management, United
Scrap Metal (USM), Peel Scrap Metal Recycling Ltd., SA Recycling, Far West
Recycling, Metro Metals Recycling, EMR, CMA Recycling, R.S. Davis Recycling,
Foss Recycling
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