Global Scrap Metal Recycling Market To Reach Us$ 78.1 Billion By 2031; The Ferrous Type Segment Accounted For Significant Share Of The Global Market In 2022

The Global Scrap Metal Recycling Market is estimated to flourish at a CAGR of 6.1% from 2023 to 2031. The integration of advanced technologies such as artificial intelligence (AI), machine learning, and Internet of Things (IoT) in scrap metal recycling processes is set to revolutionize the industry. The emergence of innovative business models is transforming the traditional scrap metal recycling landscape, and decentralized recycling facilities are gaining traction as a cost-effective and sustainable solution.