Transparency Market Research (TMR), Maharashtra, India, has released a report on the global metal recycling market.
The report observes the rapid growth of various end users of metal products as the major driver for the global metal recycling market. Consumers are increasing their spending power in developing economies, such as Asia Pacific. In particular, the automotive, construction and electronics industries are experiencing greater sales figures. Rapid industrialization in Asia Pacific, Latin America, the Middle East and developed parts of Africa also has increased demand for recycled metals, according to the report.
The report says ferrous metals are the most sought-after in the global metal recycling market in light of their demand as construction and manufacturing materials. Because of regulations to support and promote recycling, as well as widespread urban infrastructure and the increase in usage of consumer electronics, Europe and North America currently dominate the market.
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