Metal Recycling Market Is Likely To Up Demand At A USD 1.4 Trillion By 2027
San Francisco, 16 April 2024: The Report Metal Recycling Market Size, Share & Trends Analysis Report By Product (Aluminum, Steel, Copper), By Application (Construction, Automotive, Consumer Goods), By Region, And Segment Forecasts, 2020 - 2027 The global metal recycling market size projected to reach USD 1.4 trillion by 2027 registering a CAGR of 4.9%, according to a new report by Grand View Research, Inc. Increasing emphasis on circular economy and growing environmental awareness are the major factors that are likely to propel the market growth over the coming years. International efforts to enhance global recycling capabilities and the increasing availability of obsolete scrap is likely to promote industry growth in the long term. In terms of volume, steel is the most recycled metal than other materials. This is owing to the abundant availability of steel scrap. However, the outbreak of the COVID-19 pandemic is likely to cause a severe decline in the demand for 2020. Further