$42.3bn
$X.Xbn
48,988
591
$X.Xbn
Scrap metal recycling operators continue to endure high volatility amid uncertain economic conditions and uneven client demand. Weakened demand and oversupply in world markets have pushed metal prices down, while elevated inflation dampened many construction and manufacturing clients' fiscal flexibility. Supply chain industries like metal scrap recyclers have been forced to drop their selling prices, slashing revenue. Nonetheless, a sharp spike in commodity prices coupled with faster-than-expected economic recovery following the pandemic caused revenue to grow at a CAGR of 1.2% to an estimated $35.2 billion over the past few years. This includes an estimated 2.1% decrease in 2024, while profit is anticipated to slip to an estimated 2.7%.
Industry revenue has grown at a CAGR of 4.3 % over the past five years, to reach an estimated $42.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Sims Metal Management Ltd | 3,025.6 | 156.2 | 5.2 | |
Commercial Metals Company | 1,103.1 | 117.3 | 10.6 |
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Industry revenue is measured across several distinct product and services lines, including Iron and steel scrap recycling, Aluminum scrap recycling and Copper scrap recycling. Iron and steel scrap recycling is the largest segment of the Scrap Metal Recycling in the US.
Iron and steel scrap recycling takes the lead
Scrap metal recycling facilities collect, process and recycle ferrous metals like iron and steel and nonferrous metals, including aluminum, copper and nickel. Recycling involves sorting, shearing, shredding, torching and baling scrap metal before selling it to downstream metal smelters for further processing.
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NAICS 56292 - Scrap Metal Recycling in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Scrap metal recycling facilities have faced notable losses in recent years due to high commodity price volatility and inflation. The cyclical nature of metal prices, particul...
Learn about an industry's products and services, markets and trends in international trade.
Recycled scrap metal demand is heavily influenced by economic conditions. High inflation caused metal prices to fluctuate sharply, significantly reducing revenue for recyclin...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Scrap metal recycling facilities position themselves near core clients to cut transportation costs and lead time. Urban regions in states like New York and California, driven...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Scrap metal recycling facilities compete on numerous customer and production factors, such as quality, reliability, technology and price. Servicers aim to gain an edge by pro...
Learn about the performance of the top companies in the industry.
No single scrap metal recycling company holds at least 5.0% market share. There is considerable fragmentation, with most servicers consisting of small-scale and independently...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Servicers must follow federal, state and local environmental laws to ensure they can function effectively. Scrap metal recycling firms are required to acquire necessary permi...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Most servicers rely on physical labor to ensure successful metal processing. However, post-collection processes continue to embrace automation, which helps lower wage costs a...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Scrap Metal Recycling in the US industry in United States is $42.3bn in 2024.
There are 591 businesses in the Scrap Metal Recycling in the US industry in United States, which has grown at a CAGR of 1.8 % between 2019 and 2024.
The market size of the Scrap Metal Recycling in the US industry in United States has been growing at a CAGR of 4.3 % between 2019 and 2024.
Over the next five years, the Scrap Metal Recycling in the US industry in United States is expected to grow.
The biggest companies operating in the Scrap Metal Recycling market in United States are Sims Metal Management Ltd and Commercial Metals Company
Aluminum scrap recycling and Iron and steel scrap recycling are part of the Scrap Metal Recycling in the US industry.
The company holding the most market share in United States is Sims Metal Management Ltd.
The level of competition is moderate and increasing in the Scrap Metal Recycling in the US industry in United States.