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.
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.
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.)
Global Non Ferrous Scrap Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.