Asia-Pacific to play important part in metal recycling market

Factors such as the increasing urbanized population in China and India along with the growth in disposable income, and the spreading awareness regarding the importance of waste management and resource efficiency in these countries are driving the growth of the Asia-Pacific metal recycling market. Rapid industrialization and imposition of strict laws pertaining to waste management and recycling are also major factors contributing to the growth of the metal recycling market.

The metal recycling market size is projected to grow from US$277.12 billion in 2015 to reach US$406.16 billion by 2020, at an estimated CAGR of 7.95%, reports Markets and Markets. With accelerated urbanization, growth in infrastructural activities, and increasing industrialization, there is a rapidly increasing need for metal products.