Brazil Scrap Metal Recycling Market Size Set to Grow at Significant CAGR of 5.12% to Surpass USD 890 Million by 2030

Brazil Scrap Metal Recycling Market is flourishing because of the growing concern for environmental sustainability and rising raw material prices.

Report Ocean, a leading strategic consulting and market research firm, in its recent study, estimated the Brazil Scrap Metal Recycling Market size at USD 640.22 million in 2023. During the forecast period between 2024 and 2030, Report Ocean expects the Brazil Scrap Metal Recycling Market size to expand at a CAGR of 5.12% reaching a value of USD 890.19 million by 2030. Rapid industrialization and urbanization, as well as rising steel and other metal consumption, are key drivers for Brazil Scrap Metal Recycling Market. Due to the depletion of natural resources, both the public and commercial sectors are promoting recycling, which is anticipated to support the expansion of the Brazil Scrap Metal Recycling Market during the period in analysis.

Opportunity: Rising volume of old scrap metal

Based on scrap type, the Brazil Scrap Metal Recycling Market is segmented into old scrap and new scrap. The old scrap segment holds a larger share in the Brazil Scrap Metal Recycling Market. The high volume of old scrap metal is a result of the increasing use of appliances used by consumers, such as bed frames and mattress springs, computers, automobile parts, fittings, and reinforcements. Consumers often sell their waste metal in exchange for a certain price, which acts as a significant contributor to the market growth.

Brazil Scrap Metal Recycling Market

Segmental Coverage

Brazil Scrap Metal Recycling Market - By End User

Based on end user, the Brazil Scrap Metal Recycling Market is segmented into building & construction, automotive, equipment manufacturing, shipbuilding, packaging, consumer appliances, and others. The building & construction segment dominates the Brazil Scrap Metal Recycling Market by end user. The growth in the construction projects, particularly in the industrial, commercial, and energy & utilities sectors, for infrastructural growth in the country is boosting the demand for scrap metals. The automotive industry also holds a substantial market share owing to the presence of leading automotive manufacturers, such as Kia, BMW, General Motors, and Hyundai, in the country.

Competitive Landscape

Major players operating in the Brazil Scrap Metal Recycling Market include Gerdau S.A., Companhia Brasileira de Alum?nio (CBA), Metallic, R.S. Metais, Brasil Metals, WR Metais, Cobrecom, and Recemil.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Brazil Scrap Metal Recycling Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Brazil Scrap Metal Recycling Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.