The global metal recycling market is expected to grow at a CAGR of 8.1% and be worth US$88.5 billion (€88 billion) by 2030. next eight years.
The report states that Asia-Pacific will maintain the highest market share throughout the forecast period, owing to economic development, population growth, and rising labor force. In addition, the expanding automotive sector and infrastructure in China and India are expected to boost the market significantly.
North America will be the second largest market, according to the report. Europe is also projected to see ‘substantial’ growth with a large metal recycling industry and new investments.
Government calls to reduce reliance on mining for metal reserves will lead to a modest increase in metal recycling across Latin America, with slowing development in the Middle East and Africa by the end of the projected period.
The development of recycling technology and more stringent targets regarding recycling content, product recyclability and eco-design will be another important driver of the medium-term growth of the global recycling industry.
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