Feb 20 (LTIT) - According to latest report published by the leading research firm HTF Market Intelligence, the global metal scrap recycling industry is likely to register revenue growth of 3% by 2024. Also, the value of worldwide metal scrap recycling market is likely to touch $340 billion. The report notes that the sector will be worth approximately $280 billion by the end of the current year.

Commenting specifically on the U.S. market, the report noted that the scrap metal recycling industry in the country was worth around $27 billion in 2018. As per estimates, the U.S. processes nearly 110 million tonnes of recyclables every single year.

It outlines the key recycling developments for iron, copper, aluminum and lead scrap. The report also spotlights on scrap activity in various industries such as automotive, equipment manufacturing, shipbuilding, consumer appliances, batteries, packaging and building & construction. It also provides updates on recent trends and developments within the industry.

The report offers detailed company profiling of leading companies in global scrap metal recycling market including European Metal Recycling Limited, Nucor Corporation, Dowa Holdings Co., Ltd., Aurubis AG, Remondis Se & Co. Kg, Arcelormittal, SIMS Metal Management Limited, Commercial Metals Company, Baosteel Group Corporation & Tata Steel Limited.

The HTF Market Intelligence report covers various segmentations such as by geography, by product/end user type, by applications etc.