An Overview of the Metal Recycling Sector
Metal recycling is the process of collecting, processing, and reusing metals. The metals that are mostly recycled are ferrous metals, such as iron & steel, and non-ferrous metals, such as aluminum, copper, lead, zinc, & nickel. They are collected from end-of-life products, industrial scrap, and obsolete materials. The whole process of recycling involves collecting, sorting, shredding, melting, and refining metals. Owing to this, the metals can be reused without losing their inherent properties. The metal recycling industry supports sustainable industrial growth. Recycling reduces the need for virgin metal extraction and conserves natural resources. It also lowers energy consumption. According to a recent report published by Allied Market Research, the global metal recycling market is expected to reach $368.7 billion by 2030, exhibiting a CAGR of 5.2% from 2021 to 2030. The domain was valued at $...