Non-ferrous Scrap Market: Introduction
- Scrap is a recyclable material produced during manufacturing of automobiles, durable consumer products, building supplies, etc. Non-ferrous scrap is materials that do not have iron content in them. Some prominent non-ferrous scrap materials are aluminum, copper, lead, zinc, etc. According to Bureau of International Recycling (BIR), about 40% of the global demand for copper is supplied from recycled copper materials. Similarly, about 30% of global zinc production is obtained from recycled zinc. The non-ferrous scrap market is estimated to expand significantly during the forecast period.
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Key Drivers and Opportunities of the Global Non Ferrous Scrap Market
- Metals, both non-ferrous and ferrous, are used in everyday life across the globe. Conservation of mineral resources has gained importance with increase in population. Non-ferrous metals are recyclable, and the manufacturing industry is using scrap as a raw material to cater to the needs of society. Generally, the cost of refining a new non-ferrous metal is more than the cost of production from non-ferrous scrap. For instance, as per U.S. Aluminum Association, 90% less electricity is required to produce aluminum from scrap than from bauxite (aluminum ore). Thus, the market for non-ferrous scrap is expected to expand significantly during the forecast period.
- Rise in demand for non-ferrous materials is increasing the demand for non-ferrous scrap globally. According to Bureau of International Recycling (BIR), global usage of copper scrap was 5.9 million tons in 2000, which increased by 40% to reach 8.3 million tons in 2015. Over the same period, the London Metal Exchange (LME) price of copper increased from US$ 1,814 to US$ 5,502 per ton, which increased the market size of copper recycling from US$ 10.7 billion to US$ 46.0 billion. This is estimated to propel the non-ferrous scrap market considerably during the forecast period.
- Rapid industrialization all around the world, specifically in developing countries, is expected to fuel the demand for non-ferrous scrap. Furthermore, these industries too emphasize on the collection and recycling of these non-ferrous scrap in order to carry out the respective production activities.
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Asia Pacific to Hold Major Share of Global Non Ferrous Scrap Market
- In terms of region, the global non-ferrous scrap market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- The non-ferrous scrap market in Asia Pacific is estimated to expand during the forecast period. The region is a prominent consumer of non-ferrous scrap material. Developing countries of Asia Pacific generate significant amount of non-ferrous scrap, which is expected to drive the non-ferrous scrap market during the forecast period.
Key Players Operating in Global Non Ferrous Scrap Market
- Affinia METALS GmbH
- Akjay International LLC.
- Alter Trading Corporation
- Alutrade Ltd.
- European Metal Recycling Limited
- Kuusakoski Group Oy
- OmniSource Corp.
- Schnitzer Steel Industries, Inc.
- Sims Metal Management Inc.
- TSR Recycling GmbH & Co. KG
Global Non Ferrous Scrap Market: Research Scope
Global Non Ferrous Scrap Market, by Scrap Type
- Stainless Steel
- Others (Electronic Scrap, etc.)
Global Non Ferrous Scrap Market, by End-use
- Manufacturing Plants
- Engineering Units
- Others (Recyclers, Traders, Scrap Processors, etc.)
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