Scrap Metal Industry Projected Growth

As the global economy continues to grow, production has ramped up on major construction projects. And there’s been a growing recognition of the important economic contributions made by the scrap metal recycling industry.

Those benefits include the jobs being created and the taxes paid to communities and states hosting recycling firms. With a continued demand for metals for new construction projects, the ability to use industrial scrap metal recycling for those projects helps considerably to hold down costs.

And that means demand for recycled metals is on the rise, which is why industry analysts are now forecasting that the global scrap metal recycling market will grow to a whopping 997.9 million metric tons by 2021.

In part, this reflects a heightened knowledge worldwide of the benefits of scrap metal recycling. Using recycled scrap, for example, offers great environmental benefits.

In fact, scrap metal recyclers are increasingly recognized as one of the oldest environment-friendly fields, one that’s helped foster a healthier environment and preserved and protected natural resources by keeping scrap out of landfills. Scrap metals contain toxin chemicals that pose dangers if exposed to the soil and groundwater close to those landfills.

So a thriving economy and heightened environmental awareness is likely to produce strong growth in the field of scrap metal recycling in the next few years.

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