Report Forecasts Scrap Metal Growth in UK

Research and Markets (http://www.researchandmarkets.com ) has announced the addition of Metal Recycling Market Report 2004 to their offering.

According to the report consumption of scrap metal in the UK is estimated to account for 1.56 billion pounds (US $2.9 billion) last year, or around 5.5 million metric tons of ferrous and non-ferrous materials (excluding precious metals). There has been an overall decline in volume since the late 1990s, driven by trends within the ferrous sector, which has lost share of the total market, but which was still estimated to be responsible for 76.7 percent of overall volume in last year.

In terms of value, however, the ferrous sector represents only 24.5 percent of the total value of the metals recycling market. In the non-ferrous sector, aluminum accounts for 68.7 percent of non-ferrous volume and 16.1 percent of total metals volume, and has shown growth over the 1999 to 2003 period under review. Tin represents the smallest volume overall.

The UK operates within an increasingly competitive international context and exports of scrap metals have grown substantially in recent years, accounting for 63 percent of UK production of ferrous scrap in 2002.

The metal recycling market is characterized by a large number of small and mid-sized companies, although there is a tendency towards consolidation, as companies invest to meet increasingly onerous environmental targets. Legislation such as the Waste Electrical and Electronic Equipment Directive and the Restriction of Hazardous Substances Directive, which are due to be in place by the end of this year with producer targets set to begin in 2005, as well as the End-of-Life Vehicles Directive, all present increased opportunities for metal recycling.

In forecasting the future for the market, Research and Markets expects modest overall volume growth in the market through to 2008, against a background of comparatively favorable economic signs, but with caution in the manufacturing sector and allowing for legislation to take hold.

The ferrous sector is forecast to maintain its position, with the increased environmental targets impacting upon the non-ferrous sector. Nickel and aluminum are likely to show faster growth rates than copper, lead, zinc and tin. The value of the precious metals sector is expected to show growth of 4.1 percent over the forecast period to 2008.

For more information visit http://www.researchandmarkets.com/reports/c3073.