United States Non-Ferrous Scrap Recycling Market Size By Type (Aluminum Scrap, Lead Scrap, Copper Scrap, Zinc Scrap), By End Use Industry (Building & Construction, Manufacturing, Automotive, Consumer Electronics), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationUnited States Non-Ferrous Scrap Recycling Market Size And Forecast
United States Non-Ferrous Scrap Recycling Market size was valued at USD 21491.42 Million in 2024 and is projected to reach USD 34776.03 Million by 2031, growing at a CAGR of 6.84% from 2024 to 2031.
The demand for non-ferrous scrap recycling is growing across the United States due to the various advantages of recycling copper, zinc, tin, and other non-ferrous metals. The United States Non-Ferrous Scrap Recycling Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
United States Non-Ferrous Scrap Recycling Market Definition
Non-ferrous scrap refers to metal scrap containing metal, including aluminum, copper, zinc, tin, and other ferrous alloys. The rate of industrialization, urbanization, and infrastructure development is high in the United States; thus, a high amount of non-ferrous metal scrap is generated across the US. The US also imports non-ferrous metal scrap from different countries around the world. Recycling non-ferrous metal scrap can help in conserving tons of metal ores, coal, and other resources.
Furthermore, non-ferrous scrap recycling offers various lucrative benefits. Recycling non-ferrous metal scrap can help in saving natural resources. It also helps in reducing the consumption of energy. Recycling consumes a lesser amount of energy as compared to the new production of non-ferrous metals. It also decreases the rate of landfills pushing tons of metal scrap towards recycling and reuse. Thus, the rate of recycling non-ferrous metal scrap across the United States is growing.
Think about all the cool things recycled non-ferrous scrap goes into! We're talking consumer electronics, B&C, the manufacturing sector, cars, ships, and just about everything else. The amazing thing is that recycling doesn't mess with the quality of these metals. Their physical, chemical, and mechanical properties stay top-notch. So, recycled metals can easily take the place of newly mined materials in all sorts of projects. Plus, the need for recycling things like copper, zinc, and tin is really taking off in the United States. Why? Well, recycling copper uses way less energy than digging it up and refining it. It's also easier on the wallet because it's cheaper than getting raw copper from mines.
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United States Non-Ferrous Scrap Recycling Market Overview
Making brand-new metal is a wild ride, especially for those in construction and for companies in general. To really ramp up their revenue, these companies are increasingly turning to recycling – taking old metal scraps and turning them into something new! This is a smart way to keep up with global metal demand, and it's way better than just dumping everything in landfills, which, let's be honest, are a major problem for the environment. Recycling metal is much more eco-friendly; it costs less and uses less energy, which is a huge boost for businesses. For example, using recycled lead can cut carbon dioxide emissions by a whopping 98%! The growing need for metal, industrialization, and urbanization are all fueling the metal recycling market. And with everyone focused on cutting greenhouse emissions and saving natural resources, metal recycling is only going to get bigger in the future.
Okay, so when you're recycling, remember that aluminum and other metals have to be pulled out by hand from the plastic and paper. It's true that, especially with aluminum, the metal gets a little weaker each time it's recycled, which can impact the quality of products made from it. But hey, the good news is, most metals can be recycled basically forever! And get thiseven though scrap metal recycling uses energy, it's a huge savings – like 95% less than making new metal. Because of all this, some states and even local areas are making laws to force metal recycling. In fact, Lee County, Florida, needs metal recycling to keep recycling costs down in the future. Typers You should always double-check the local rules and regulations before using any recycled materials.
Metals can often be recycled in a closed loop without any degradation in grade; thus, recycling scrap metals reduces the waste produced and indirectly shortens the expense of bringing the new metal. Recycling ferrous metal diverges exceptional metal grades, perfect for manufacturing electric cars and aircraft components. Although scrap is the primary raw material for the secondary sector, the primary sector also uses scrap in the direction mix of BOF to the tune of 15% to enhance efficiency and minimize the cost of production and other process needs.
United States Non-Ferrous Scrap Recycling MarketSegmentation Analysis
The United States Non-Ferrous Scrap Recycling Market is segmented on the basis of Type, End Use Industry, and Geography.
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United States Non-Ferrous Scrap Recycling Market, By Type
• Aluminum Scrap• Lead Scrap• Copper Scrap• Zinc Scrap• Tin Scrap• Nickel Scrap• Others
To Get Summarized Market Report By Type-
When we look at the Type of scrap metal, the market breaks down into segments like Aluminum Scrap, Lead Scrap, Copper Scrap, Zinc Scrap, Tin Scrap, Nickel Scrap, and "Others." And guess what? Aluminum Scrap took the crown in 2021, holding the biggest piece of the market pie. Experts think it'll keep growing at a rate of about 6.12% each year! Fun factcopper was the first metal ever shaped by human hands, with silver and gold not far behind. We even went from the Stone Age to the Copper Age, then to the Bronze Age! Basically, non-ferrous metals were the OG metals for humans. Speaking of copper, it's one of the pricier ones out there. And because it's amazing at conducting electricity, you'll find it everywhere - from gadgets to buildings! Think pipes, cables, and electrical bits and bobs. Most of our appliances and electronics rely on copper; a computer alone packs around 1.5 kg of it! Plus, about 90% of the copper used in things like buildings and roads comes from recycled sources.
United States Non-Ferrous Scrap Recycling Market, By End Use Industry
• Building & Construction• Manufacturing• Automotive• Consumer Electronics• Shipbuilding• Others
When it comes to where all that recycled non-ferrous scrap in the US ends up, it's broken down into industries like Building & Construction, Manufacturing, Automotive, Consumer Electronics, Shipbuilding, and a catch-all "Others." Right now, Building & Construction is the big dog, gobbling up the most, and it's expected to keep growing fast – around 6.60% each year! Think about itwe're talking about copper from old pipes, aluminum from window frames, and even zinc taken from roofing. You've also got lead – that soft, heavy metal that's great for soldering and even found in some batteries. And don't forget aluminum - as wood gets pricier, it's becoming the go-to for things like roofing. Bottom line? Industries like building are hungry for scrap metals like iron and aluminum to build everything from roads to bridges.
United States Non-Ferrous Scrap Recycling Market, By Geography
• U.S West• North East• Mid-West• South East• South West
To Get Summarized Market Report By Geography-Â
When we look at the U.S. Non-Ferrous Scrap Recycling Market by region, we see it's divided into the U.S. West, North East, Mid-West, South East, and South West. Right now, the West is leading the pack and is expected to keep growing at a rate of 6.22% each year for the foreseeable future. Take Schnitzer, for example – they've got nonferrous metal recycling facilities that collect, trade, process, and recycle all sorts of non-iron metals. Their smart setup means they can easily get processed metals to steel mills and foundries all over the globe, ready to be turned into new products. They're constantly investing in new technologies to make their scrap metal processing even better. They source scrap metal from places like Alaska, Hawaii, and all across the Western U.S. Being close to big industrial suppliers, railways, ports, and highways gives them a real edge, making it easy to get materials and send processed scrap metal wherever it's needed most.
Key Players
The major players in the market are Sims Metal Management Inc., OmniSource Corp., American Iron & Metal Co Inc., SA Recycling, Alter Trading Corporation, Tube City Inc., Philip Metals Inc., Hugo Neu Corp, Ferrous Processing & Trading Corp, Commercial Metals Co., and others.
Key Developments
• In October 2021, the acquisition, which has an enterprise value of $775 million, was announced by Cleveland-Cliffs, the largest steel producer in North America, and Ferrous Processing and Trading Co. a metal recycler.
• In November 2020, Global recycler Sims Metal Management has resumed nonferrous scrap shipments to China in accordance with the country’s recently established scrap import policy, and the company’s outlook for the upcoming year has improved as a result of the lowering of import quotas.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | Sims Metal Management Inc., OmniSource Corp., American Iron & Metal Co Inc., SA Recycling, Alter Trading Corporation, Tube City Inc., Philip Metals Inc., & Others |
| SEGMENTS COVERED | Type, End Use Industry, and Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
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