Recycling scrap metal entails removing and reusing metal components from buildings and end-of-life products so that they can be used as raw materials to make new products. This recycled metal can be used to create poles, ropes, and bars, among other things. The scrap metal cycle's primary goal is to reuse and recycle metals rather than discard them. Recycling metal minimises the need to mine new metal, which protects water quality and animal habitats.
According to SPER Market Research, ‘Brazil Scrap Metal Recycling Market Size - By Metal, By Scrap Type, By Equipment, By End User - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Brazil Scrap Metal Recycling Market is estimated to reach 1041.44 million by 2033 with a CAGR of 5.37%.
Drivers: Growing environmental consciousness and a focus on sustainability are emerging as key drivers in Brazil's scrap metal recycling business. Recycling discarded metal minimises the need for raw material extraction and mining, which helps to preserve natural resources. Redirecting scrap metal away from landfills also helps to reduce waste. Recycling is important since it is a profitable industry that cuts carbon emissions and generates jobs. Steel is one of the country's most recyclable resources. Positive government measures to reduce carbon emissions are also predicted to accelerate market growth.
Restraints:
- Metal recycling in an informal sector: The scrap metal recycling sector in Brazil is largely informal, making it difficult for authorities to control and supervise the recycling process. The lack of regulations limits the safety of recycled metal used in end-user industries such as construction and automotive. As a result, the finished products from these businesses may or may not meet international safety standards. This is a crucial limiting factor for Brazil's scrap metal recycling industry.
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Impact of COVID-19 on Brazil Scrap Metal Recycling Market
The COVID-19 pandemic has significantly impacted the scrap metal recycling sector. The pandemic's rapid spread has reduced demand for metals in a number of industries, including construction, automotive, and aerospace. It has also affected the global supply chain, preventing metal recyclers from obtaining the necessary equipment and supplies to operate. This has slowed the recycling process and reduced output during the outbreak.
Brazil Scrap Metal Recycling Market Key Players:
The Brazil Scrap Metal Recycling Market is dominated by the Southeast area of Brazil. Major industrial and economic centres with a large concentration of manufacturing and recycling facilities are found in this region. Major players in the market are Gerdau S.A, Companhia Brasileira de Alumínio (CBA), Metalic, R.S. Metais, and Others.
Brazil Scrap Metal Recycling Market Segmentation:
By Metal: Based on the Metal, Brazil Scrap Metal Recycling Market is segmented as; Ferrous, Non-ferrous.
By Scrap Type: Based on the Scrap Type, Brazil Scrap Metal Recycling Market is segmented as; Old Scrap, New Scrap.
By Equipment: Based on the Equipment, Brazil Scrap Metal Recycling Market is segmented as; Shredders, Shears, Granulating Machines, Briquetting Machines.
By End User: Based on the End User, Brazil Scrap Metal Recycling Market is segmented as; Building Construction, Automotive, Equipment Manufacturing, Shipbuilding, Packaging, Consumer Appliances, Others.
By Region: This research also includes data for Eastern Region, Western Region, Southern Region, Northern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link –
Brazil Scrap Metal Recycling Market Future Outlook
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