The global market for metal recycling has been examined in a recent market research report by TMR Research. The report, titled “Metal Recycling Market – Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017–2025,” presents a thorough analytical assessment of the market’s past and present growth dynamics and reliable inputs pertaining to the potential future growth prospects of the market over the period between 2017 and 2025.
Metal recycling has been an important way of redirecting scrap metal or metal artifacts, after they reach the end of their useable life, to useful applications by sorting and refining them based on the quality and type of metals. Since metals are exhaustible but are required in large quantities across a vast array of industries, metal recycling has witnessed a vast rise in demand as a feasible way of bringing down the need for new metal mining and extraction projects.
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Significant pace of urbanization and industrialization have swelled up the demand for all kinds of metals across the globe and this factor is playing a major role in fueling the metal recycling market. The promising rate of growth observed across a number of industries that consume metal products in vast quantities, instances being construction and automotive industries, especially across regions with steadily progressing developing economies, is also driving the market.
Geographically, the market for metal recycling in Asia Pacific has expanded at a rapid rate owing to the massive scale of urbanization in the recent years. As countries such as India and China move ahead to catch up with the present-day leaders of the global economy, the market for metal recycling in the region is likely to pick pace in the next few years.
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Some of the leading companies operating in the global metal recycling market are Joseph Behr & Sons Inc., Alter Scrap Processing, Ferrous Processing & Trading Co. (FTP), AMG Resources Corp., Galamba Metals Group LLC, PSC Metals, Tube City Inc., and Kuusakoski Oy.