Global Non-ferrous Scrap market will reach 11899 billion US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/6

The machinery and automobile industry have major role in the growing demand for the global non-ferrous scrap market. The construction and electrical industry are also dependent on the non-ferrous scrap market. Non-ferrous metals are extensively used in building and construction as they offer nonmagnetic properties, resistance to corrosion, and strength. Growth of related industries is expected to contribute to the rise of this market in the coming years. The report also states that extensive usage of aluminium in the packaging industry is also projected to bode well for the global non-ferrous scrap market during the forecast period.

The global non-ferrous scrap market was worth US$102.88 bn in 2018 and the report suggests that the market will reach US$11899 bn by 2025, registering a sluggish CAGR of 2.10%.

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