According to the Future Market Insights report, the Japanese Recycled Scrap Metal Market is valued at US$ 26.2 Billion in 2021. By the end of 2032, the market is expected to reach a market worth US$ 64.5 Billion, growing steadily with a CAGR of 5% during 2022-2032. The expanding construction and automotive industries are accelerating the demand for the metals used to produce components and residential constructions. Nevertheless, due to the limited availability of earth metals and also the expensive cost of excavating the earth, the Japanese market for recycled scrap metal is being promoted in order to meet increasing consumer demand.
As people’s concerns regarding the emissions of greenhouse gasses and worsening urban air quality rise, so does the need for metal recycling. Utilizing the unique benefits of metal recycling, like energy saving, pollution reduction, and the preservation of irreplaceable raw resources, is essential for achieving global goals. Such factors are expected to accelerate the Japanese market demand for recycled scrap metal during the forecast period. In 2019 the worldwide market as well as the Japanese market, aluminum has been the second-largest sector for recycled metal. Large amounts of aluminum are used, and it has a significant value as scrap. Because of aluminum’s rising use in the automotive as well as consumer goods sectors, its demand is expected to rise quickly throughout the projection period. This is encouraging for the market for recycled aluminum since more demand for aluminum results in higher output.
Since recycling aluminum saves about 92% more energy than producing aluminum from scratch, secondary manufacturing of aluminum is becoming more and more common than primary production. Over 90% of the raw materials used to make one tonne of aluminum using the secondary process are made up of scrap metal. Such factors are enormously boosting the growth of the market and hence significant growth can be expected during the forecast period in the Japanese scrap metal market.
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Key Takeaways
- By the end of 2022, it is anticipated that the Japanese market for recycled scrap metal would be worth around US$ 31.5 Billion.
- By metal type, aluminium accounts for more than 20% of the Japanese market share in 2022.
- By source type, over 45% of the Japanese market shares will be taken over by the production scrap segment in 2022.
- By end-user, the transportation sector will take over 48% of the shares in 2022.
Competitive Landscape
The key players present in the Japanese recycled scrap metal market are Asahi Seiren Co., Ltd., Asuka Industries, Inc., Kyoei Steel Co., Ltd., Matsushima Metal Co., Ltd., and Yamaichi Primetal Co., Ltd.
Leading companies in the recycled scrap metal industry are growing their worldwide footprint through strategic alliances, mergers, acquisitions, as well as partnerships. The new start-ups are focused on how to increase their productivity as well as their efficiency with the current systems.
Recent Developments
- The ASAHI SEIREN Group is a multifaceted aluminum recycling business that deals with items like fluxes for the steels and aluminum alloy ingots. In contrast to standard ones, these tiny aluminum alloy ingots are made to be more environmentally friendly and to increase fuel economy.
- They have set up a method to buy empty cans from members and neighborhood organizations and contribute an equivalent sum of money to the disaster-affected regions as part of their donations association operations. Additionally, they take part in and support neighborhood cleanup projects and festivities.
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Market by Category
By Metal Type:
- Ferrous Metals
- Iron
- Steel
- Non-Ferrous Metals
- Aluminum
- Copper
- Precious Metal
- Tin
- Zinc
- Others
By Source Type:
- Production Scrap
- Post-Consumer Scrap
By End-Use:
- Transportation
- Building & Construction
- Consumer Electronics
- Packaging
- Equipment & Tools
- Art, Decor & Home Furnishings
- Jewelry
- Others
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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