Market research company Global Industry Analysts Inc., (GIA) recently released a report titled “Metal Recycling – Global Market Trajectory & Analytics“. The report estimates the global market for metal recycling is projected to reach a revised size of US$548.7 compared to the estimated figure of US$365.3 Billion amid the COVID-19 crisis.
Amid the COVID-19 crisis, the global market for Metal Recycling estimated at US$365.3 Billion, is projected to reach a revised size of US$548.7 Billion by 2026, growing at a CAGR of 6.8% over the analysis period. Ferrous, one of the segments analyzed in the report, is projected to record a 7.7% CAGR and reach US$403.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Ferrous segment is readjusted to a revised 5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $106.1 Billion in 2021, While China is Forecast to Reach $117.5 Billion by 2026
The Metal Recycling market in the U.S. is estimated at US$106.1 Billion in the year 2021. China, the world`s second-largest economy, is forecast to reach a projected market size of US$117.5 Billion by the year 2026 trailing a CAGR of 10.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 6.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. More here.
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer-driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.