Copper Scrap Market to Undertake Strapping Growth By 2030

 Copper Scrap Market Growth & Trends

The global copper scrap market size is anticipated to reach USD 105.90 billion by 2030 and is projected to grow at a CAGR of 8.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing use of renewable energy sources for electricity generation has resulted in technological developments in the wind generation sector. This factor, coupled with rising awareness and emphasis on clean energy and sustainability, is expected to drive the demand for copper in wind energy production. This is set to become the biggest driver for the market over the forecast period.

Further, rising investments in EV manufacturing facilities across the world are expected to positively influence copper usage, consequently benefiting the market growth over the forecast period. For instance, in March 2022, Suzuki Motor Corporation decided to invest USD 1,320.2 million in its manufacturing plant in Gujarat, India. It is also planned to produce 125,000 EVs by 2025. In addition, over past two years, companies such as Daimler, Stellantis, and General Motors invested USD 47.0, 35.0, and 23.0 billion for their EV production facilities, respectively.

Stringent environmental regulations were introduced to mitigate environmental adversities. As a result, scrap dealers are required to obtain a certificate of conformity that indicates scrap yards and businesses comply with waste regulations. Further, Standard Rules SR2015No3 describes metal recycling and waste electrical and electronic equipment authorized treatment facility (ATF) excluding ozone-depleting substances. A license is required for all metal trading and is issued by the local authority. These regulations influence demand for copper scrap and impact market growth.

The European Union has set an ambitious target to become climate-neutral by 2050. Owing to this, the region is witnessing a significant boost in the production of EVs. For instance, in July 2022, Volvo announced an investment of EUR 1.20 billion (USD 1.22 billion) to set up a new manufacturing plant in Slovakia, and the plant is expected to begin production by 2026. Similarly, the rising focus of European countries on sustainable and clean energy generation is propelling the demand for renewable energy like wind and hydro, which is positively impacting copper.

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Copper Scrap Market Report Highlights

• Based on feed material, the old scrap segment led the market with the largest revenue share of 51.6% in 2023. These enter the scrap value chain largely through an unorganized route.Old scrap remains the most predominant supply source of scrap, and this is expected to remain same during the forecast period
• Based on grade, the #2 copper segment held the market with the largest revenue share of 31.6% in 2023, and it is also expected to grow at a significant CAGR over the forecast period, due to its wide availability
• Based on application, the brass mills segment is expected to grow at the lucrative CAGR over the forecast period, owing to high demand from applications such as hardware & plumbing, valves, casings, and decorative items
• Copper is of vital importance in wire & cable applications, and these are key enablers for global market.
• Asia Pacific dominated the market with the revenue share in 2023, owing to factors such as focus on reducing carbon emissions by a shift in attention toward renewable energy, amendments in trade policy, and investments across Asia Pacific region are expected to positively increase copper scrap demand
• In December 2022, AIM Recycling, a Canadian-based scrap recycler entered into a 50:50 JV agreement with Kalischatarra (Kalisch Recycling), a Mexican scrap recycler. This will expand the former’s customer reach in Mexico

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Copper Scrap Market Segmentation

Grand View Research has segmented the copper scrap market report based on feed material, grade, application, end-use, and region:

Copper Scrap Feed Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Old Scrap
• New Scrap

Copper Scrap Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Bare Bright
• #1 Copper Scrap
• #2 Copper Scrap
• Other Grades

Copper Scrap Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Wire Rod Mills
• Brass Mills
• Ingot Makers
• Other Applications

Copper Scrap End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Building & Construction
• Electrical & Electronics
• Industrial Machinery & Equipment
• Transportation Equipment
• Consumer and General Products

Copper Scrap Region Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • Belgium
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players in the Copper Scrap Market

• Ames Copper Group
• Aurubis AG
• CMC
• Glencore
• Global Metals & Iron Inc.
• JAIN RESOURCE RECYCLING PVT LTD.
• KGHM METRACO S.A.
• OmniSource, LLC.
• Pascha GmbH.
• Perniagaan Logam Panchavarnam Sdn Bhd
• I.C. Recycling, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Jewelry Market Trends Regulations And Competitive Landscape Outlook to 2030

Jewelry Market Growth & Trends

The global jewelry market size is anticipated to reach USD 482.22 billion by 2030, registering a CAGR of 4.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The luxury goods industry continues to fuel the growth of the market, amid challenges concerning varying economic trends.

The demand for jewelry is increasing as the world is recovering from a recession and the global financial crisis of 2008. Over the past few years, consumer preference has turned to branded jewelry. This trend is more prominent among the emerging upper-middle class or wealthy consumers, particularly in Asia Pacific, for whom branded jewelry is a status symbol. According to the World Gold Council, India and China accounted for more than 50% of the global gold jewelry demand in 2018.

Most consumers buy jewelry from international or established brands as they offer authentic & trustworthy products and unique designs. E-commerce is another important trend in the industry. Most consumers in this market prefer to research online before purchasing any product, and many make purchases from online portals for convenience.

Technological advancements have been transforming the jewel industry, from mining and discovering precious metals to cloud solutions and e-commerce platforms. Computer-aided design (CAD), 3D printing, and augmented reality (AR) are among the most notable technologies that have been prompting the growth of the industry in recent years. From a distribution standpoint, the emergence and popularity of these technologies have been aiding jewelry manufacturers around the world to realize higher profit margins in retail outlets.

A key trend that has been gripping the jewelry industry over the years is the transformation of the shopping experience using technology. For instance, in June 2017, YOOX NET-A-PORTER GROUP, an Italian online fashion retailer, partnered with Lumyer Inc., a U.S.-based app developing company, to launch an AR camera app designed to enable users to try on jewelry, sunglasses, and handbags in virtual reality.

The rising number of double-income households in emerging economies such as India, China, and Brazil has resulted in increased spending on luxury goods, including jewelry. Spending on luxury products is expanding at a more substantial rate in tier II cities in India than in tier I cities. According to American Express, high-end spending in tier II cities between 2013 and 2018 grew 30 times faster than that in tier I cities. The rise in luxury spending in tier I and tier II cities is due to strict measures by the Indian government, such as the increase in excise duty on gold and diamond, demonetization, and a rise in taxes on luxury items to curb black money.

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Jewelry Market Report Highlights

• The ring jewelry segment contributes the majority of the share to become the largest division in the global revenue in 2023. The segment stood as the most popular product amongst end-users as consumers’ interest is growing in the intricate designs and details of the rings. Moreover, they are perceived as elegant and stylish statement-making jewelry among both the gender men and women which is supporting the growth of the segment.
• The gold material segment is projected to register the fastest growth maintaining its leading position over the forecast period. In 2020, the jewelry industry used over 1,400 metric tons of gold accounting for more than one-third of all gold demand worldwide.
• Asia Pacific held the largest market share in 2023 for the market. Highly populated and developing economies of the region including China and India generate humongous demand for jewelry boosting its consumption and revenue. Additionally, the huge significance of jewelry in Indian culture, improving living standards coupled with rising per capita income and spending power, and the rising influence of social media on consumers is fueling the growth of the market in Asia Pacific.  

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Jewelry Market Segmentation

Grand View Research has segmented the global jewelry market report on the basis of product, material, distribution channel, end-user and region:

Jewelry Product Outlook (Revenue, USD Million, 2018 - 2030)

• Necklace
• Ring
• Earring
• Bracelet
• Others

Jewelry Material Outlook (Revenue, USD Million, 2018 - 2030)

• Platinum
• Gold
• Diamond
• Others

Jewelry Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Offline Retail Stores
  • Supermarkets & Hypermarkets
  • Jewelry stores
  • Others
• Online Retail Stores

Jewelry End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Men
• Women
• Children

Jewelry Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Spain
  • Italy
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia & New Zealand
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • South Africa
  • UAE
  • Saudi Arabia

List of Key Players of Jewelry Market

• Tiffany & Co
• Pandora
• Chow Tai Fook
• Louis Vuitton SE
• Richemont
• GRAFF
• Signet Jewelers Limited
• Stern
• Malabar Gold & Diamonds
• Swarovski AG

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Automotive Infotainment Market to Expand at a CAGR of 9.9% Through 2030: Grand View Research Inc.

Automotive Infotainment Market Growth & Trends

The global automotive infotainment market size is expected to reach USD 28.93 billion by 2030 and is anticipated to expand at a CAGR of 9.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising demand for safety features, digital cockpits, self-driving vehicles, and entertainment purposes is driving the demand for the automotive infotainment market. Advances in driver safety software and sensors are playing a niche role in driving the growth of the automotive infotainment systems market. As automotive technology continues to evolve in line with the strong emphasis on driver safety, automakers are incorporating digital monitoring systems (DMS) and ADAS into their automobiles.

Smartphones can be connected to the vehicle's entertainment system using Bluetooth. Modern infotainment systems use HDMI cables, Bluetooth, and USB to send audio and video content to display screens, speakers, and headphones. Bluetooth connectivity allows for advanced functions such as hands-free calling and call record visibility. Furthermore, in March 2023, BMW launched an infotainment system which offers smartphone experience. The updated BMW iDrive infotainment system works on BMW Operating System 8.5, which is based on Linux and can make greater use of the BMW Curved Display. Users can rearrange the various icons on the system's main screen, which has adjustable visuals, similar to a computer or smartphone screen, with the new iDrive update.

Automakers are increasingly offering rear-seat entertainment packages, which can enhance the journey experience for rear-seat passengers. These product offerings include a headrest mount for wireless devices, a headrest with built-in monitors, and portable hard drives with streaming facilities as well as audio devices, such as sound splitter adapters and wireless car headphones. Rear-seat entertainment systems are commonly installed in premium and luxury cars. As the demand for premium cars continues to grow in line with the rising levels of disposable income, the demand for automotive infotainment systems supporting rear-seat entertainment is also growing proportionally the increasing usage of a tablet in cars is particularly encouraging automobile manufacturers to design and develop tablets customized according to consumer and vehicle parameters.

Prominent automobile manufacturers are working closely with software development companies to develop a technologically advanced solution that provides a cutting edge over competitors. For instance, in April 2023, Alps Electric Co., Ltd. signed a long-term agreement with Tata Elxsi, a provider of technology services to develop next-generation vehicle software.

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Automotive Infotainment Market Report Highlights

• The OEM fitted dominated the fit type segment in 2023, owing to its easier serving, low maintenance, and company warranty feature.
• The passenger car led the vehicle type segment in 2023. The increasing demand for technologically advanced features in the passenger vehicles used by the transportation sector is a key contributor to the lion’s share of the segment.
• Asia Pacific dominated the automotive infotainment industry in 2023. This growth can be attributed to factors such as a highly competitive automotive market in the country, which encourages OEMs in the country to focus on providing enhanced customer experience by integrating touchscreen or large-screen infotainment systems 
• In May 2023, Mitsubishi Electric Corporation partnered with Commsignia Ltd., a provider of V2X technology. Through the partnership V2X solution of Commsignia combined with High-Definition Locator (HDL) technology of Mitsubishi to support safety of advanced-driver-assistance systems (ADAS) and autonomous-driving.

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Automotive Infotainment Market Segmentation

Grand View Research has segmented the global automotive infotainment market on the basis of product type, fit type, vehicle type, and region:

Automotive Infotainment Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Audio Unit
• Display Unit
• Heads-Up Display
• Navigation Unit
• Communication Unit

Automotive Infotainment Fit Type Outlook (Revenue, USD Million, 2018 - 2030)

• OEM Fitted
• Aftermarket

Automotive Infotainment Vehicle Type Outlook (Revenue, USD Million, 2018 - 2030)

• Passenger Cars
• Commercial Vehicles

Automotive Infotainment Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa

List of Key Companies in the Automotive Infotainment Market

• Alpine Electronics
• Clarion Co., Ltd.
• Continental AG
• Delphi Automotive PLC
• Denso Corporation
• Harman International
• JVC KENWOOD Corporation
• Panasonic Corporation
• Pioneer Corporation
• Visteon Corporation

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Healthcare Navigation Platform Market Is Booming Worldwide 2024-2030

 Healthcare Navigation Platform Growth & Trends

The global healthcare navigation platform market size is estimated to reach USD 17.67 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 8.49% from 2024 to 2030. Factors such as the rise in adoption of data-driven technologies,growing emphasis on patient-centric care, and the need for improved navigation platforms for organizations are anticipated to drive market growth in the upcoming years. Moreover, substantial investment requirements and a need for more skilled healthcare IT professionals impede the market's expansion.

Customers consistently seek integrated solutions encompassing various aspects of healthcare navigation, such as health benefits guidance, well-being engagement, care coordination, and advocacy. To cater to this demand, service providers are implementing AI and Machine learning technology to innovate or develop new platforms. For instance, in May 2023, Sharecare launched Sharecare+, its digital-first, precision advocacy solution to scale benefits navigation efficiently and integrated clinical care delivery. The purpose of Sharecare+ is to identify the person’s needs with the help of its expertise in clinical coaching & lifestyle with AI-powered digital capabilities and a robust set of analytics.

Furthermore, the pricing of healthcare navigation services plays a crucial role in market growth. As the growing demand for healthcare navigation services to help people access the care they need is increasing. The service providers are innovating the services, ensuring that these services are accessible and affordable to the organization and their employees. Moreover, the prices vary based on the type of services as per the requirement of a company. For instance, Healthcare Navigation, LLC offers healthcare navigation and advocacy services in three categories, which are as follows: basic, premium, and platinum. The basic prices of the services may start from USD 1,200/individual per year. For premium, the solution is offered at USD 2,000/year for individuals and customized for couples & families, and platinum is offered at USD 4,000/yearly for individuals.

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Healthcare Navigation Platform Market Report Highlights

• In terms of deployment, the cloud-based segment dominated the market share of over 63% in 2023, owing to solutions such as secure storage for patient data, seamless integration with other healthcare systems, and accessibility from anywhere that are offered by platforms, enabling healthcare providers and patients to access and utilize healthcare navigation tools and resources efficiently.
• In terms of end-use, the large enterprises segment dominated the market share in 2023owing to their substantial financial resources, comprehensive employee wellness initiatives, and a strategic focus on leveraging advanced healthcare technologies.
• North America dominated the market for healthcare navigation platforms and accounted for the largest revenue share in 2023. This can be attributed to the investment in streamlined healthcare navigation solutions by organizations in the region and the presence of key healthcare navigation platform players.
• Market players operating in the healthcare navigation platform market include Quantum CorpHealth Pvt Ltd.; Accolade; Transcarent; Included Health, LLC; Sharecare, Inc.; Apree Health; Health Advocate; Health Joy, LLC; Wellframe

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Healthcare Navigation Platform Market Segmentation

Grand View Research has segmented the healthcare navigation platform market on the basis of deployment, end-use, and region:

Healthcare Navigation Platform Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• On-Premises
• Cloud Based

Healthcare Navigation Platform End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Large Enterprises
• Small and Medium Enterprises (SMEs)

Healthcare Navigation Platform Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Sweden
  • Norway
  • Denmark
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

List of Key Players of Healthcare Navigation Platform Market

• Quantum CorpHealth Pvt Ltd.
• Accolade
• Transcarent
• Included Health, LLC
• Sharecare, Inc.
• Apree Health
• Health Advocate
• Health Joy, LLC
• Wellframe

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Filtration And Drying Equipment Market Report | Business Growth 2030

 Filtration And Drying Equipment Market & Trends

The global filtration and drying equipment market size is anticipated to reach USD 2.46 billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising demand from various end-user industries such as food & beverage, chemicals, and water & wastewater treatment are expected to propel the demand. Moreover, the growth is driven by the rising use of filtration & drying equipment in emerging economies.

According to the India Brand Equity Foundation (IBEF), the pharmaceutical industry is recognized as the sunrise sector for the country’s economy in the Union Budget-2022. It is predicted to triple in size in the next few years. According to the Economic Survey 2021–2022, the pharmaceutical industry in India is projected to reach USD 65 billion by 2024, attributed to the leadership of domestic manufacturers offering generic pharmaceutical formulations. In the pharmaceutical industry, filtration & drying equipment are critical for maintaining the quality of products manufactured. Their proper operations ensure that pharmaceutical products perform optimally and maintain their integrity after use by consumers. Thus, the growing pharmaceuticals industry in India is expected to lead to surged demand for filtration & drying equipment used in it during the forecast period.

The chemical industry is witnessing increased adoption of filtration & drying equipment owing to their high chemical resistance and adherence to the relevant filtration parameters to achieve the highest possible quality of end products. These equipment are durable, safe, and effective technological solutions that can be optimized and efficiently developed to adhere to various process parameters. Moreover, chemical plants require the installation of high-performance filtration & drying equipment, characterized by optimized heat transfer, reduced drying times, and excellent product discharge performance. This equipment separates substances such as dyes, pesticides, silicic acid, glycerin, basic chemicals, pigments, white alumina, manganese, caustic soda, soda ash, and mud using different filtration and drying techniques.

Innovations in filtration and drying equipment open new markets by improving existing ones. For instance, developments in energy-efficient equipment, automation, and smart filtration systems attract increased interest from end-users. Moreover, companies are increasingly adopting sustainable practices. The demand for eco-friendly filtration and drying equipment is expected to increase over the forecast period. Sustainability and green manufacturing practices focus on developing and promoting environment-friendly technologies and practices that reduce the environmental impact. As industries become more conscious of their environmental footprint, the demand for sustainable equipment has increased significantly.

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Filtration And Drying Equipment Market Report Highlights

• Based on technology, the ANFD segment dominated with 50.9% of the revenue share in 2023. ANFD boasts several benefits, including the ability to maintain an inert gas atmosphere, facilitate product blending before discharge, and uphold product purity throughout the entire process. This versatile equipment, serving as a combination of dryer and filter units, finds applications in industries such as dyes, pharmaceuticals, chemicals, and textiles
• Centrifuges generate high centrifugal forces that enable rapid and efficient separation of substances based on density, making them indispensable in processes such as the clarification of liquids, separation of biological materials, and purification of pharmaceuticals. Their versatility, scalability, and ability to handle a wide range of sample volumes make centrifuges valuable tools for research laboratories, pharmaceutical manufacturing, wastewater treatment, and numerous other applications where efficient solid-liquid or liquid-liquid separation is paramount
• Filtration & drying equipment are integral components in the chemical industry, facilitating crucial separation and purification processes. Filtration technologies, such as vacuum and pressure filtration systems, are employed to remove solid impurities from liquids and to ensure the production of high-purity chemical products. These technologies play a vital role in the production of chemicals by enabling efficient separation, purification, and drying processes, contributing to the overall quality and consistency of chemical products in the industry
• Asia Pacific dominated the market for filtration & drying equipment in 2023, owing to the robust industrialization, expanding manufacturing sectors, and stringent quality standards
• In June 2023, Ferrum Ltd. expanded its operations by opening an extension building in Schafisheim, Switzerland, in which USD 46.4 million will be invested

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Filtration And Drying Equipment Market Segmentation

Grand View Research has segmented the global filtration and drying equipment market based on technology, end-use, and region:

Filtration And Drying Equipment Technology Outlook (Revenue, USD Billion, 2018 - 2030)

• Centrifuges
  • Perforate Basket Centrifuge
  • Pusher Centrifuge
  • Peeler Centrifuge
  • Others
• Agitated Nutsche Filter-Dyers (ANFD)
• Others

Filtration And Drying Equipment End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Pharmaceutical
• Chemicals
• Water and Wastewater Treatment
• Food & Beverages
• Others

Filtration And Drying Equipment Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Spain
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Australia
  • India
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia

List of Key Players in the Filtration And Drying Equipment Market

• HEINKEL Process Technology GmbH
• GMM Pfaudler
• Tsukishima Kikai Co., Ltd
• HLE Glascoat
• Amar Equipment Pvt. Ltd.
• Charles Thompson Ltd.
• 3V Tech S.p.A.
• Hosokawa Micron Powder Systems
• Zhejiang Yaguang Technology Co., Ltd
• Little Men Roaring, LLC
• Pope Scientific Inc
• Promas Engineers PVT.LTD
• Chem Flowtronics
• Synovatic India
• Bachiller
• amixon GmbH
• BHS-Sonthofen GmbH
• GEBRÜDER LÖDIGE MASCHINENBAU GMBH
• EKATO HOLDING GmbH
• DE DIETRICH PROCESS SYSTEMS
• Alfa Laval AB
• ANDRITZ AG
• GEA Group Aktiengesellschaft
• Comi Condor S.p.A.
• Ferrum Ltd.
• Rousselet Robatel
• Flottweg SE
• CEPA

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Metal Recycling Market Expected To Trigger A Revenue To $1.4 Trillion By 2027: Grand View Research, Inc.

 Metal Recycling Market Growth & Trends

The global metal recycling market size projected to reach USD 1.4 trillion by 2027 registering a CAGR of 4.9%, according to a new report by Grand View Research, Inc. Increasing emphasis on circular economy and growing environmental awareness are the major factors that are likely to propel the market growth over the coming years.

International efforts to enhance global recycling capabilities and the increasing availability of obsolete scrap is likely to promote industry growth in the long term. In terms of volume, steel is the most recycled metal than other materials. This is owing to the abundant availability of steel scrap. However, the outbreak of the COVID-19 pandemic is likely to cause a severe decline in the demand for 2020.

Furthermore, the growing consumption of metal in end-use industries is also likely to play a major role in driving market growth. For instance, steel is largely consumed in the automotive, construction, industrial manufacturing, and consumer goods industries. Aluminum recycling is also gaining significant momentum as recycling aluminum saves over 90% energy compared to its primary production.

Metal manufacturers are increasingly promoting recycling as an effective way to address the problem of resource scarcity and mitigate environmental impact associated with the production process. The industry is garnering significant pace as economically viable recovery of metals from the sorted recyclates is now feasible.

Asia Pacific is predicted to be the largest as well as the fastest-growing regional market from 2020 to 2027. Proper waste management and rapid urbanization are the major factors that are likely to trigger industry growth in APAC. The growing manufacturing sector in India, China, Vietnam, Thailand, Myanmar, and Indonesia is leading to increased production activities, thereby boosting the demand for metal recycling.

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Metal Recycling Market Report Highlights

• Asia Pacific captured the largest revenue share of 67% in 2019, in terms of volume, as the region is the largest producer of metals in the world
• Steel is expected to register the fastest CAGR of 6.4%, in terms of revenue, from 2020 to 2027 owing to abundant availability of steel scrap from automobiles
• The construction application segment led the market with a volume share of approximately 47% in 2019, owing to high spending in the construction sector in emerging economies of Asia Pacific
• Consumer goods is expected to register the fastest CAGR from 2020 to 2027 on account of rising demand for metal products in this sector
• Aluminum was the second-largest recycled product in 2019 owing to the high demand for aluminum for the production of lightweight vehicles

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Metal Recycling Market Segmentation

Grand View Research has segmented the global metal recycling market report on the basis of product, application, and region:

Metal Recycling Product Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 - 2027)

• Steel
• Aluminum
• Copper
• Others

Metal Recycling Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 - 2027)

• Construction
• Automotive
• Consumer Goods
• Industrial Goods

Metal Recycling Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2016 - 2027)

• North America
  • The U.S.
• Europe
  • Germany
  • Russia
  • Turkey
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
  • Brazil
• Middle East & Africa

List of Key Players of Metal Recycling Market

• European Metal recycling
• CMC
• Utah Metal Works
• GFG Alliance
• Norsk Hydro ASA
• Kimmel Scrap Iron & Metal Co., Inc.
• Schnitzer Steel Industries, Inc.
• Novelis
• Tata Steel
• Sims Metal Management Limited

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Non-ferrous Scrap Recycling Market Predicted to Witness Steady Growth During the Forecast Period

 Non-ferrous Scrap Recycling Market Growth & Trends

The global non-ferrous scrap recycling market size is anticipated to reach USD 308.5 million by 2027, expanding at a CAGR of 2.8%, according to a new report by Grand View Research, Inc. The growth of the market is attributed to increasing consumer awareness pertaining to recycling coupled with the rising production of secondary metals.

The primary production of metals is a capital intensive procedure and consumes lots of energy. Usage of scrap in metal production reduces manufacturing costs and energy consumption, making secondary metal production both economically and environmentally friendly. This compels the manufacturers to opt for secondary production, giving rise to more demand for scrap metal.

Based on metal, the market has been segmented into aluminum, copper, lead, and others. There are various types of non-ferrous metals of which aluminum and copper account for a higher share owing to their phenomenal properties. Such properties propel their use in various applications including construction, automotive, and consumer goods industries. As a result, these three sectors are the major contributors to the generation of non-ferrous metal scrap.

Aluminum is extensively used in the construction industry owing to its lightweight characteristics in various structures such as roofing, walls, door and window frames, and even handles. Its usage is increasing in the automotive industry as well in vehicle body frames. The metal has a high recovery rate from both the construction and automotive sectors, which makes its largest segment, in terms of volume, of the global market.

Non-ferrous accounts for a higher revenue share than ferrous scrap in the overall market owing to their high prices. However, the spread of the covid-19 pandemic has caused the prices of the metals to decline drastically. In India, prices of aluminum and copper dropped by 5% in February 2020 from January 2020. The pandemic caused the shutting down of manufacturing operations and restricting transportation, which resulted in low demand for these metals, resulting in a decline in prices.

Construction and automotive are major shareholding sectors in terms of scrap generation; however, their growth rate is less when compared to consumer goods. Household appliances and other consumer goods have a short lifespan than structures and vehicles, owing to which these products tend to turn into scrap faster than products of the other sectors.

Asia Pacific accounted for the largest volume share in 2019 and this trend is anticipated to continue over the forecast period. The growth is augmented towards Japan, India, and Southeast Asian countries, which are taking efforts in improvising their recycling industry. The nations are inviting investments for the industry to propel market growth. For instance, in 2019, Jiangxi Copper Co. announced its plan to build a plant for producing refined copper in Malaysia, where scrap shall be used as a key raw material.

The growth of the non-ferrous scrap recycling industry is expected to be further propelled by government initiatives. For instance, on March 27, 2020, the Indian Ministry of Mines released a Draft National Non-Ferrous Metals Scrap Recycling Policy for emphasizing on the underdeveloped non-ferrous scrap recycling sector in the country. India is a huge hub of scrap generation; however, due to unorganized nature and less consumer awareness towards recycling, the country majorly relies on imports for its consumption. Such policies are expected to address the issues pertaining to recycling in the country.

The market is both highly competitive and unorganized in nature. The COVID-19 pandemic has largely impacted market growth and players of the industry as of 2020. Factors like shortage of workers, no demand from manufacturing plants, no inflow of scrap in yards owing to social distancing, and transport restrictions have led to the shutdown of many recycling centers. As of March 2020, non-ferrous scrap processors in China reduced their operating capacity to 40-50% owing to declining orders.

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Non-ferrous Scrap Recycling Market Report Highlights

• Asia Pacific held the highest revenue share of over 45.0% in 2019 owing to increasing investments and initiatives towards generation and processing of non-ferrous scrap in the region
• Automotive is anticipated to witness a CAGR of 2.9%, in terms of revenue, over the forecast period owing to the rise in the number of discarded vehicles every year across the globe
• Copper held the largest revenue share of over 56.0% in 2019 owing to its high price compared to other metals and its increasing demand from construction and consumer goods sectors
• Construction held the largest volume share of 36.0% in 2019 owing to high consumption of non-ferrous metals like aluminum, copper, and zinc in infrastructural developments and high recovery rate of these metals
• Considering the increasing demand for non-ferrous metals, investments in the industry are evident. For instance, in March 2018, Meldgaard opened its facility in Denmark for recycling ash and heavy metal processing.

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Non-ferrous Scrap Recycling Market Segmentation

Grand View Research has segmented the global non-ferrous scrap recycling market report on the basis of sector, metal, and region:

Non-ferrous Scrap Recycling Sector Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Construction
• Automotive
• Consumer goods
• Industrial goods

Non-ferrous Scrap Recycling Metal Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Aluminum
• Copper
• Lead
• Others

Non-ferrous Scrap Recycling Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
• Asia Pacific
  • China
  • Japan
• Central & South America
• Middle East & Africa

List of Key Players of Non-ferrous Scrap Recycling Market

• Sims Metal Management Inc.
• OmniSource Corp.
• TSR Recycling GmbH & Co. KG
• Aurubis
• Kuusakoski
• Hindalco Industries Ltd.
• Matalco Inc.
• SA Recycling LLC

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Powered Wheelchair Market Major Key Players And Latest Trend Analysis Till 2030: Grand View Research Inc.

 Powered Wheelchair Market Growth & Trends

The global powered wheelchair market size is expected to reach USD 3.21 billion by 2030, registering a CAGR of 6.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The primary factors driving the market are the increasing disability rates, a growing aging population, technological advancements, and government initiatives and regulations. According to the Centers for Disease Control and Prevention (CDC), around 27%, 1 in every 4 adults in the United States have some type of disability out of which 12.1% of adults in the United States struggle significantly to walk or climb stairs due to mobility impairment. In the United States, there are an estimated 3.3 million wheelchair users, and this figure is rising annually. Due to the rise in the baby boomer group who has a high need for wheelchairs, the demand for wheelchairs is rising.

Moreover, the rising customization offered by several players is anticipated to boost the market. Wheelchairs are being designed with a greater focus on customization to meet individual needs and preferences. Manufacturers are offering options for adjustable seating, backrests, armrests, and other features, allowing users to have a personalized and comfortable experience.

The COVID-19 outbreak negatively impacted the market in the initial phase of 2020. Due to lockdowns and travel and manufacturing restrictions, the pandemic caused disruptions in the world's supply-chain networks. This has affected the production and distribution of wheelchairs and their components, leading to potential delays in manufacturing and delivery. However, the market recovered soon as there was demand was a surge in demand for healthcare equipment, including wheelchairs, in medical facilities. Hospitals and clinics required additional equipment to manage patients with mobility issues, which contributed to an increased demand for both manual and powered wheelchairs.

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Powered Wheelchair Market Report Highlights

• The marketing the healthcare industry was estimated at USD 2.01 billion in 2023 and is expected to reach USD 3.21 billion in 2030
• The market for powered wheelchairs is expected to expand at a compound annual growth rate of 6.9% from 2024 to 2030 to reach USD 3.21 billion by 2030
• North America dominated the global market in 2023 and accounted for the largest revenue share of 47.8%. This growth is owing to the high target population and increased adoption of advanced wheelchairs
• By category, the adult segment dominated the electric wheelchair industry in terms of revenue share of 86.3% in 2023. Adults comprise individuals from the age group of 18 onwards. Disability in older people due to arthritis pain, or stiffness in a knee, hip, ankle, or foot increases the demand for wheelchairs

Powered Wheelchair Market Segmentation

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Grand View Research has segmented the global powered wheelchair market based on age category, product, portability, end-use, and region:

Powered Wheelchair Age Category Outlook (Revenue, USD Million, 2018 - 2030)

• Adult
• Pediatric

Powered Wheelchair Product Outlook (Revenue, USD Million, 2018 - 2030)

• Front-wheel Drive
• Mid-wheel Drive
• Rear-wheel Drive
• Others

Powered Wheelchair Portability Outlook (Revenue, USD Million, 2018 - 2030)

• Standalone
• Portable

Powered Wheelchair End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Homecare
• Hospitals
• Ambulatory Surgical Centers
• Rehabilitation Centers

Powered Wheelchair Regional Outlook (Revenue in USD Billion 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Kuwait

List of Key Players in Powered Wheelchair Market

• Drive Medical Design & Manufacturing
• Invacare
• Sunrise Medical LLC
• Karman Healthcare
• Quantum Rehab
• Numotion
• Pride Mobility Products Corp.
• Ostrich Mobility
• MEYRA
• Jinmed

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Rubber Processing Chemicals Market to Partake Significant Development During 2024 to 2030: Grand View Research Inc.

 Rubber Processing Chemicals Market Growth & Trends

The global rubber processing chemicals market size is anticipated to reach USD 8.52 billion by 2030 and is projected to grow at a CAGR of 4.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth is attributed to the growing demand for rubber products worldwide. The increasing production of vehicles and the rising trend of electric and autonomous vehicles is driving the demand for innovative components with improved performance. In addition, the construction industry's demand for rubber-based materials for roofing membranes and sealants is also contributing to market growth.

Technological advancements have significantly influenced the market, improving efficiency, product quality, and sustainability. The development of advanced mixing and extrusion technology has enabled manufacturers to produce compounds with improved properties and reduced processing times. Another technological trend in the market is adoption of sustainable and environmentally friendly practices. Environmental concerns and regulatory policies have pushed the industry to develop and implement greener solutions. For example, usage of bio-based compounds from renewable sources has gained ground. These compounds provide similar performance characteristics to traditional compounds while reducing dependence on petroleum-based raw materials.

Rubber processing generates large amounts of wastewater, which leads to serious health problems if left untreated. In addition, manufacturing processes, such as extrusion and die casting, lead to excess fatalities from hematopoietic, stomach, bladder, lung, and other cancers. As a result, some regulatory agencies, such as the New Source Performance Standards (NSPS) and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH), have strict regulations for using and handling chemicals and wastewater treatment from processing factories. Growing health and environmental concerns have led to the use of alternatives such as reinforced natural fibers made from processed vegetable oil plants and cellulose. For example, Japan's Yokohama Tire Corporation uses oil derived from modified natural rubber and orange peel to produce tires. These eco tires also have better grip when braking and cornering.

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Rubber Processing Chemicals Market Report Highlights

• Anti-degradants dominated the product segment with a 50.03% revenue share in 2023 owing to their increasing use in improving performance, heat resistance, and tensile strength of products across end-user industries
• The non-tire application segment is expected to grow at the fastest CAGR over the forecast period due to the diversification of applications around the globe
• Asia Pacific dominated the market owing to factors such as the presence of abundant raw materials as well as growth of end-user industries such as construction and automobiles in the region
• In January 2022, Sumitomo Rubber Industries announced a USD 128 million expansion of its tire manufacturing facility in Sheridan Drive from its current expanse of 55,000 square feet

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Rubber Processing Chemicals Market Segmentation

Grand View Research has segmented the global rubber processing chemicals market based on product, application, and region:

Rubber Processing Chemicals Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Anti-degradants
• Accelerators
• Flame Retardants
• Processing Aid/ Promoters
• Others

Rubber Processing Chemicals Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Tire
• Non-Tire

Rubber Processing Chemicals Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia

List of Key Players in the Rubber Processing Chemicals Market

• Lanxess
• Solvay
• Akzo Nobel N.V.
• BASF SE
• Arkema
• Eastman chemical company
• T. Vanderbilt Holding Company, Inc.
• Behn Meyer
• KUMHO PETROCHEMICAL
• Paul & Company
• China Petrochemical Corporation
• Merchem Limited

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.