Metal Recycling Market Poised to Reach USD 88.5 billion by the end of 2023; asserts MRFR
Metal recycling is the utilization of scrap material and converting them into reusable metal. It does not alter the properties of the metal. Steel, iron, lead, copper, zinc are the generally recycled metals. The global Metal Recycling Market is due to reach USD 88.5 billion by the end of 2023 at a CAGR of 8.1% over the forecast period of 2018-2023, reveals Market Research Future (MRFR) in a detailed study. The pressing need for energy conservation and surging awareness regarding the depletion of natural resources is the prime drive for the growth of the global metal recycling market. Recently, there has been mass awareness regarding the conservation of natural resources. Moreover, recycling of metals requires less energy consumption than procurement of metals from virgin ores. Heightened demand for beverage cans is a significant growth driver. High consumption of beverages generates considerable demand for metal cans which boosts the growth of the ...