Tag: Advanced Interior Materials

U.S. Toilet Partitions Market Worth $1.02 Billion By 2027

The U.S. toilet partitions market size is expected to reach USD 1.02 billion by 2027, registering a CAGR of 4.5% during the forecast period, according to a new report by Grand View Research, Inc. Growing commercial construction activities in the country have led to a rise in toilet installation and this is predicted boost product demand in the forthcoming years.

Product manufacturers are actively working on designing vandal-resistant toilet partitions to increase product life. Companies are focused on providing anti-graffiti-coatings that can be easily cleaned with simple non-abrasive cleaners. In addition, vandal-resistant components such as fasteners, hinges, and knobs are being utilized to counter the nuisance of vandalism.

The market for toilet partition faces little-to-no threat of substitutes. However, internal substitution in terms of materials has been observed. Players are looking to switch to low-cost alternative materials, such as High density Polyethylene (HDPE), owing to its longer lifespan, corrosion-resistant properties, cost effectiveness, and superior performance.

Industry players supply and market their products through multiple distribution channels such as direct supply, third-party distributors, direct-supply agreements with construction companies, and through e-commerce platforms. Product manufacturers work closely with architects and interior designers to provide highly customized toilet partitions specific to their requirements.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/us-toilet-partitions-market

Further key findings from the study suggest:

  • The others segment, which includes partitions made out of phenolic core, is projected to witness the fastest CAGR of 5.9% over the forecast period, which can be attributed to enhanced durability, extended lifespan, cost benefits, and light weight of these materials
  • Southeast U.S. accounted for the largest share of 26.7% in 2019, fuelled by considerable growth in commercial construction on account of government initiatives to develop public infrastructure
  • High capital investments for setting up new manufacturing facilities and establishing a strong distribution network are likely to be an entry barrier for new entrants
  • Industry participants compete on the basis of price differentiation and goodwill, resulting in intense competition within the industry. In addition, brand loyalty and brand recognition play an essential role in gaining a competitive edge

Technical Textile Market Size Worth $250.6 Billion By 2027

The global technical textile market size is expected to reach USD 250.6 billion by 2027, expanding at a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Superior properties of technical fabric such as excellent strength, versatility, and superior performance make them desirable for numerous industrial applications.

Farmers are shifting their focus towards agro-tech products owing to uncertainty in climate, limited availability of water, and threat to crops from being damaged by insects and pests. These agro-tech products are expected to boost agricultural productivity, thereby boosting market growth over the forecast period.

Factors such as increasing demand for high-performance and energy-efficient fabric and stringent government regulations regarding performance in various applications have driven market growth. Technical fabrics are been witnessing burgeoning penetration in end-user industries for varying applications, such as automotive, packaging, and medical.

Changing consumer preference toward fashion and high-level of quality and technology has further intensified the complexity of the process. Hence, it makes the manufacturing process more difficult and complex, creating high synergy between functional design, innovative approach, advanced technologies, fashion considerations, and smart materials.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/technical-textiles-market

Further key findings from the report suggest:

  • Thermo-forming technology is increasingly used for the manufacturing of technical fabrics. This segment is projected to witness a CAGR of 5.4% from 2020 to 2027 and reach USD 33.3 billion in 2027
  • The agro textile end-use segment accounted for USD 4.5 billion in 2019 on account of its functional benefits, including superior weather resistance, protection from micro-organisms, protection from solar radiation, ultra-violet radiation, and water conservation
  • In Europe, the market is projected to witness a CAGR of 4.3% from 2020 to 2027 on account of the rising demand for the fabrics in household and fashion and clothing applications
  • In Asia Pacific, the market accounted for USD 81.2 billion in 2019 and is expected to witness exponential growth over the forecast period owing to the expansion of residential, commercial, and industrial sectors in the region
  • In China, the market accounted for USD 29.8 billion in 2019 and is projected to witness a CAGR of 6.3% from 2020 to 2027 owing to the availability of raw material at low cost.

Natural Zeolites Market Size Worth $8.01 Billion By 2025

The global natural zeolites market size is expected to reach USD 8.01 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 2.7% over the forecast period. Increasing investments in development of new infrastructure in the global construction industry are expected to propel the product demand. The usage of natural zeolites is prominent in construction materials owing to their hygroscopic qualities and the ability to balance pH. Natural zeolites are pozzolanic materials, which are used to enhance strength of the structure.

The construction industry is witnessing considerable growth not only in emerging economies but also in developed countries such as the U.S. In 2017, construction spending in U.S. was 4.5% higher than in 2016. The growth of global construction industry has led to the increased use of cement. Cement manufacturing is a major contributor to greenhouse gas emissions, and thus, natural zeolites are used in construction materials as a partial replacement for cement.

Soil remediation and water treatment applications are expected to augment growth of the natural zeolites market. Soil contamination is a major concern in the European and Asian countries. According to the European Environment Agency, Europe had approximately 2.5 million potentially contaminated land sites in 2014. Similarly, almost one-fifth of the land in China is rich in cadmium. In 2013, it was reported that rice grown in Hunan province of China was contaminated with cadmium. Also, 44% of rice samples were found to be contaminated with cadmium in Guangzhou. Owing to the increasing soil contamination, materials such as natural zeolites, are being used in soil amendment applications to improve the overall health and quality of soil and the crops.

China has been a major producer and consumer of natural zeolites on a global scale since many years. Their usage is prominent in China owing to an increase in the demand for construction materials and the requirement for soil amendment products. China is the largest cement producer in the world and has been witnessing high use of natural zeolites such as Pozzolan cement.

The growth of the natural zeolites market is affected by presence of substitutes. Both minerals and non-minerals are a threat to the market in major applications including construction materials, water treatment, and soil amendment. For example, activated carbon in water treatment and bentonite clay in soil amendment can hinder demand. Major players in the global market are increasing their production capacities by establishing new plants; joint ventures; and through acquisitions to increase their customer reach in the international markets.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/natural-zeolites-market

Further key findings from the study suggest:

  • Construction materials is anticipated to remain the largest segment throughout the forecast period, in terms of revenue, on account of benefits such as improved strength and durability of structures obtained due to the use of natural zeolites
  • The soil remediation segment is anticipated to expand at a CAGR of 3.4% in terms of value over the forecast period due to increasing land contamination
  • In terms of volume, animal feed accounted for a share of 14.3% in 2017, owing to the increasing animal feed production in North America and South America
  • Asia Pacific is anticipated to be the leading region in the market throughout the forecast horizon, owing to rapid infrastructural developments
  • Some of the key companies operating in the natural zeolites market are KMI Zeolite, Zeocem a.s., United States Antimony Corporation, and Zeotech Corporation. They are attempting to increase their consumer base, for instance, in December 2017, Canadian Zeolite Corp. acquired Earth Innovations Inc., which has an established distribution network in Canada.

Stainless Steel Market Size Worth $182.2 Billion By 2027

The global stainless steel market size is expected to reach USD 182.2 billion by 2027, expanding at a CAGR of 6.3%, according to a new report by Grand View Research, Inc. Increased focus towards customized railing made of stainless steel in housing construction is anticipated to drive market growth over the forecast period.

Construction is one of the largest end-use industries of stainless steel products. Various infrastructure and construction sites require a massive number of products to enhance the aesthetic appeal and corrosion resistance of the structure. The advantages that are offered by the product such as corrosion resistance, formability, weldability, and aesthetic appearance make it an important constituent in the construction industry. Stainless steel is majorly used in the construction industry for architectural cladding, handrails, drainage and water systems, wall support products, roofing, and structures and fixing.

Increasing the use of 200 series in consumer goods owing to its low cost and high strength is anticipated to drive demand for stainless steel. Also, increasing demand for consumer goods such as cookware, kitchen appliances, showpieces, and stoves owing to increasing disposable income and changing lifestyles are anticipated to augment market growth over the coming years.

In Asia Pacific, the growth in the manufacturing sector owing to various factors including government initiatives such as ‘Skill India’ and ‘Make in India’ by the Indian government is anticipated to drive product demand over the coming years. The initiative has prompted many automakers to set their offices in India and procure high-quality products from stainless steel vendors in India. The growing demand for auto products due to rising automotive production, an increase in export, and diversification of the auto sector has created a positive impact on market growth over the coming years.

Some of the key players in the stainless steel market are POSCO, Acerinox S.A., Jindal Stainless, Aperam Stainless, Baosteel Group, Outokumpu, ThyssenKrupp Stainless GmbH, Nippon Steel Corporation, ArcelorMittal, and Yieh United Steel Corp. The key players are focusing on capacity expansions and long-term agreements with their customers to increase their market share and to meet the growing product demand. For instance, in March 2017, the company signed an agreement with the Defence Research and Development Organization (DRDO), India, to produce steel for weapons and combat vehicles.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/stainless-steel-market

Further key findings from the study suggest:

  • 300 series is anticipated to progress at a CAGR of 6.7%, in terms of revenue over the forecast period owing to increasing demand from marine and aerospace industries on account of its properties such as resistant to corrosion and high temperatures
  • Duplex series is projected to witness a CAGR of 6.2% in terms of volume over the forecast period owing to increasing demand from swimming pool structures, brewing tanks, and hot water tanks
  • Flat products accounted for a volume share of 74.4% in 2019. The growth is attributable to the increasing use of cold-rolled products in energy, home appliances, and construction industries due to its superior properties such as straightness, concentricity, and tolerance
  • Building and construction is anticipated to witness a CAGR of 5.5% in terms of volume over the forecast period owing to increasing modern construction of buildings and structures that require aesthetic appeal and extended life
  • North America is expected to witness a CAGR of 5.1% in terms of revenue over the forecast period owing to the growing construction industry on account of high investments in infrastructure development in the region.

Spandex Market Size Worth $8.8 Billion By 2027

The global spandex market size is expected to reach USD 8.8 billion by 2027 registering a CAGR of 2.2%, according to a new report by Grand View Research, Inc. Rapid expansion of the textile industry coupled with rising demand for sportswear, active wear, diapers, intimate wear, etc. is projected to propel the market growth. Benefits of spandex fibers including lightweight, resistance to perspiration, superior elasticity, excellent strength, and durability are projected to promote its use in applications including clothing, medical, and others.

Spandex is increasingly being used in the manufacturing of medical products including compress bandages, stretchable bandages, surgical hose, etc. Rising demand for medical products across the globe on account of the increasing number of healthcare centers is expected to augment the product demand further. Raw materials used in the manufacturing of spandex include Polytetramethylene Ether Glycol (PTEG) and MDI that are derived from petrochemical feedstock. Stringent government regulations across the economies to curb the carbon footprints is projected to limit the expansion of the spandex market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/spandex-market

Further key findings from the report suggest:

  • The clothing application segment is projected to register the fastest CAGR from 2020 to 2027 on account of the growing demand for sportswear, swimwear, yoga pants, under garments, and others
  • The solution dry-spinning process accounted for the maximum market share of 95.2% in 2019 and is projected to register at a steady CAGR from 2020 to 2027 owing to the multiple benefits of the process including higher spinning speed and flexibility
  • Asia Pacific led the global market in 2019 owing to the expansion of textile industry in China, India, Indonesia, and several other economies
  • Growing production of spandex in U.S. on account of the rising demand for active wear, sportswear, inner wear, and others is projected to drive the North America regional market
  • China accounted for the highest market share in Asia Pacific due to the growing number of production facilities in the country

Hybrid Additive Manufacturing Market Size Worth $242.9 Million By 2027

The global hybrid additive manufacturing market size is expected to reach USD 242.9 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 14.8% from 2020 to 2027. Increasing demand for low volume and complex design automotive parts is likely to contribute to the growth of the market.

The automotive industry has rapidly adopted additive manufacturing technology in recent years. Numerous companies have changed traditional processes with additive manufacturing, which is a relatively new, faster, and more cost-effective process. One of the key benefits of hybrid 3D printing or hybrid additive manufacturing is reduction in wastage. With the help of this process, the manufacturer uses only necessary material for production of components, thereby reducing the cost of materials.

R&D investments in the production of automotive parts is another key focus area for market vendors. For instance, BigRep, a 3D printer producer company based in Germany, and Polymertal, an Israel-based company, are working on the development of prototype of automotive exhaust manifold. The companies have used a hybrid approach using metal plating and additive manufacturing in order to develop this product. Similar investments by other companies are likely to assist in the growth of market.

Development of new 3D printers and their components is likely to remain one of the important growth factors for market vendors over the long term. For instance, 3D-Hybride, a U.S.-based company, has started delivering 3D printing based metal printheads. These printheads can be installed with any CNC machines. This can assist in turning the CNC machine into hybrid additive manufacturing machine. Material for this machine is used in the form of alloy wire.

Metal additive manufacturing is gaining significant attention from industries, such as aerospace and medical. However, nearly all the parts made using this process require further machining operations, such as turning, milling, and grinding, which increases lead time and costs. These factors are likely to assist in the penetration of hybrid additive manufacturing owing to its capability to perform various operations on a single machine.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/hybrid-additive-manufacturing-market

Further key findings from the study suggest:

  • Titanium emerged as the largest material segment in 2019 with a share of 38.0%. The growth of the segment is attributed to increasing demand for new aircraft on account of growing passenger traffic
  • Aluminum is projected to expand at a lucrative CAGR of 15.1% from 2020 to 2027 on account of its lightweight properties and recycling nature
  • The medical end-use segment was valued at USD 22.3 million in 2019. Increasing healthcare expenditure and technological advancement in medical devices and implants are the key factors boosting the segment growth.

Andalusite Market Size Worth $280.1 Million By 2025

The global andalusite market size is expected to reach USD 280.1 million by 2025, expanding at a revenue-based CAGR of 7.3%, according to a new report by Grand View Research, Inc. The growing consumption of andalusite in refractories owing to increasing demand from end-use industries such as steel and chemicals is propelling the market growth. Growing consumption of steel in construction and automotive industries is expected to propel the demand for refractories as the global steel industry consumes around 60 to 70% of refractories produced. This is likely to augment the market growth over the coming years.

Andalusite is used as foundry sand in metal casting, which is widely used in manufacturing various automotive components such as power-train, support systems, suspensions, casings, and gears. In the U.S., nearly 35% of the casting produced is used in the automotive industry. The growing demand for lightweight vehicles such as lightweight trucks is anticipated to augment the growth of the foundry market, which in turn is anticipated to propel the demand for andalusite over the coming years.

Market players are established in South Africa and Peru owing to the presence of large amount of reserves. The companies in these countries are adopting strategies such as mergers and acquisitions and capacity expansions in order to strengthen their market share and increase their regional presence. Latin Resources Limited is looking for a joint venture to develop its Guadalupito Andalusite and Mineral Sands Project situated in Northern Peru. The conceptual annual production at the site for andalusite is expected to be of 155 kilotons. Key market players include Andalusite Resources, Imerys Refractory Minerals, Resco Products, and Andalucita S.A.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/global-andalusite-market

Further key findings from the report suggest:

  • The refractories segment is anticipated to progress at a revenue-based CAGR of 7.3%, in terms of revenue over the forecast period on account of the growing demand from steel, cement, aluminum, iron, and glass industries
  • Europe emerged as the leading regional market and accounted for 61.0% of the overall volume share in 2018. This can be attributed to the increasing production of metal casting especially in Russia and France
  • Asia Pacific was the second-largest regional market and held a revenue share of 25.3% in 2018. This can be attributed to the increasing steel production and growing construction industry in China and India
  • Made in China 2025 plan was aimed to expand the domestic manufacturing sector, which in turn is likely to boost the demand for refractories and foundries. This is anticipated to augment the andalusite market growth over the coming years
  • South Africa is the largest producer of andalusite in the world. Its production declined from 270 kilotons in 2016 to 200 kilotons in 2017 and 2018, owing to heavy rains in the country.

Natural Zeolites Market Size Worth $8.01 Billion By 2025

The global natural zeolites market size is expected to reach USD 8.01 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 2.7% over the forecast period. Increasing investments in development of new infrastructure in the global construction industry are expected to propel the product demand. The usage of natural zeolites is prominent in construction materials owing to their hygroscopic qualities and the ability to balance pH. Natural zeolites are pozzolanic materials, which are used to enhance strength of the structure.

The construction industry is witnessing considerable growth not only in emerging economies but also in developed countries such as the U.S. In 2017, construction spending in U.S. was 4.5% higher than in 2016. The growth of global construction industry has led to the increased use of cement. Cement manufacturing is a major contributor to greenhouse gas emissions, and thus, natural zeolites are used in construction materials as a partial replacement for cement.

Soil remediation and water treatment applications are expected to augment growth of the natural zeolites market. Soil contamination is a major concern in the European and Asian countries. According to the European Environment Agency, Europe had approximately 2.5 million potentially contaminated land sites in 2014. Similarly, almost one-fifth of the land in China is rich in cadmium. In 2013, it was reported that rice grown in Hunan province of China was contaminated with cadmium. Also, 44% of rice samples were found to be contaminated with cadmium in Guangzhou. Owing to the increasing soil contamination, materials such as natural zeolites, are being used in soil amendment applications to improve the overall health and quality of soil and the crops.

China has been a major producer and consumer of natural zeolites on a global scale since many years. Their usage is prominent in China owing to an increase in the demand for construction materials and the requirement for soil amendment products. China is the largest cement producer in the world and has been witnessing high use of natural zeolites such as Pozzolan cement.

The growth of the natural zeolites market is affected by presence of substitutes. Both minerals and non-minerals are a threat to the market in major applications including construction materials, water treatment, and soil amendment. For example, activated carbon in water treatment and bentonite clay in soil amendment can hinder demand. Major players in the global market are increasing their production capacities by establishing new plants; joint ventures; and through acquisitions to increase their customer reach in the international markets.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/natural-zeolites-market

Further key findings from the report suggest:

  • Construction materials is anticipated to remain the largest segment throughout the forecast period, in terms of revenue, on account of benefits such as improved strength and durability of structures obtained due to the use of natural zeolites
  • The soil remediation segment is anticipated to expand at a CAGR of 3.4% in terms of value over the forecast period due to increasing land contamination
  • In terms of volume, animal feed accounted for a share of 14.3% in 2017, owing to the increasing animal feed production in North America and South America
  • Asia Pacific is anticipated to be the leading region in the market throughout the forecast horizon, owing to rapid infrastructural developments
  • Some of the key companies operating in the natural zeolites market are KMI Zeolite, Zeocem a.s., United States Antimony Corporation, and Zeotech Corporation. They are attempting to increase their consumer base, for instance, in December 2017, Canadian Zeolite Corp. acquired Earth Innovations Inc., which has an established distribution network in Canada.

Copper Foil Market Size Worth $10.3 Billion By 2027

The global copper foil market size is expected to reach USD 10.3 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.7% from 2020 to 2027. Increasing demand for higher transmission speeds is likely to contribute to the demand for copper foil products.

The need for a higher frequency of telecommunication and higher speed in mobile telecommunication and optical communication system applications is likely to increase over the coming years. In order to cater to such applications, producers are developing electronic components, such as high performance printed circuit boards (PCBs). Producers are focused on developing PCBs with low die-electric loss tangent and constant and high multi-layers, wherein the copper foil is a key raw material. This is projected to open new avenues for market vendors.

With the reduction in sizes and thickness of mobile devices, demand for thinner and smaller semiconductor packages and PCBs is projected to increase over the coming years. This is anticipated to fuel the demand for thin copper foil products over the coming years. Demand for mobile phones in India and China is projected to assist in market growth. For instance, as per statistics provided by the Indian Council for Research on International Economic Relations, India is the second-largest market for mobile phones after China. Out of 2.53 billion global users of smartphones, 337 million users were from India at the end of 2018. India’s compounded annual growth rate was 6.66% from 2007 to 2018, in terms of volume.

New investments to increase the production capacity to cater to the demand for emerging applications are projected to create new opportunities for market players. For instance, in February 2020, Circuit Foil, a copper foil producer based in Europe, announced an investment of around 40 USD million for the Wiltz copper foil production plant. This is projected to increase production by 30% and support its demand for base stations, antenna, and 5G technology captures.

Numerous countries have started conducting 5G trials, focusing on various applications through the use of different frequencies. Thus, the development of next-generation wireless systems, such as 5G and LTE-advanced, is likely to boost the demand for copper foil products in the long run. It has been estimated that China’s 5G bus base station investment will reach over USD 100 billion by 2024. With an increase in 5G user penetration rate and connection requirements for the bandwidth for 5G services, the market is likely to witness lucrative growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/copper-foil-market

Further key findings from the study suggest:

  • Circuit boards emerged the largest application segment in 2019 and accounted for a volume share of 61.0 in 2019. Increasing demand for consumer electronics and automotive electronics is projected to fuel the growth of this application segment
  • The batteries segment is projected to register the fastest growth rate in the forecast period. Increasing demand for lithium-ion batteries for electric vehicles and energy storage is anticipated to remain a key contributing factor for the market growth
  • Asia Pacific was the largest regional market in 2019 with a volume share of over 72.0%. Increasing the production of PCBs, electronic components, and lithium-ion batteries in China, South Korea, and Japan is a primary driver for the market.

Ferrous Scrap Recycling Market Size Worth $111.9 Million By 2027

The global ferrous scrap recycling market size is anticipated to reach USD 111.9 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 1.7% from 2020 to 2027. Increasing secondary metal production is anticipated to augment market growth.

Scrap metal recycling plant and crane-Loading scrap in a truck

Crude steel is produced through basic oxygen converter and electric arc furnace (EAF), where the former follows the conventional method of production that includes raw materials, such as iron ore, metallurgical coal, limestone, and very less amount of scrap. However, in the EAF, scrap is the key raw material along with less energy consumption. According to the World Steel Association, crude steel production through the EAF process increased by 10.1% from 2017 to 2018. Growing steel production through the EAF process is a key driving factor for the market.

Ferrous scrap recycling is a market with lots of growth potential owing to increasing concerns over sustainability and depleting non-renewable resources. As a result, recycling is the most viable and efficient option to continue the production of metals owing to rapidly accelerating demand and at the same time causing minimal impact on the environment.

The recycling process involves certain steps, which are, scrap metal collection at yards, sorting, passing through radiation detector, shearing, shredding, separation of ferrous materials, media separation, and baling. After passing through all processing steps, the obtained blocks of ferrous scrap are transported to steel mills for further processing and are used in production.

Ferrous scrap is collected through various sources, where the key markets include construction, automotive, consumer goods, and industrial goods. The construction industry is the major contributor towards scrap generation as ferrous products recovered from the sector can be used directly if the quality is not impacted or else are sent for recycling.

Automotive is the second major sector in the market, as the recovery rate of scrap from vehicles often lies between 95-100%. Over 25 million vehicles are recycled across the world annually generating a large amount of scrap. The car recycling industry is a large market as it not only helps in reducing carbon footprint but also provides thousands of jobs and generates revenue for the economy. Over 80% of materials in a vehicle are recyclable, of which, metal is most accessible. In the U.S., around 18 million tons of steel is reused that helps in reducing air pollution by 86% and water pollution by 76%.

Based on region, Europe held the largest share in the market owing to the technological advancements, coupled with the presence of various recyclers in the region. As a result, the region is the largest exporter of ferrous scrap in the world, helping developing nations, which are still under the process to organize their scrap and recycling markets.

The competitive scenario of the market is high owing to the extremely unorganized nature of the market. Integration across various stages of the value chain is witnessed, for instance, automotive players setting up their own shredding units. In 2019, Maruti Suzuki and Toyota Tshusho Group announced a joint venture to set up a vehicle dismantling and recycling unit in Noida, Uttar Pradesh, India by 2020-21.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/ferrous-scrap-recycling-market

Further key findings from the report suggest:

  • Asia Pacific anticipated registering the highest growth rate of 2.6%, in terms of revenue, across the forecast period, owing to increasing developments in scrap recycling in developing economies, like India
  • Europe held the largest volume share of 42.5% in 2019 owing to rapid development in the recycling industry of the region
  • The construction sector held the largest revenue share of more than 46.0% in 2019 due to increasing consumption of ferrous materials, such as steel, in the industry owing to its phenomenal properties
  • The consumer goods sector is anticipated to register the fastest growth rate of 2.1% in terms of revenue, during the forecast period, owing to rapid production of electronics and their short lifespan
  • The market is hit by the covid-19 pandemic, which can be indicated with low demand and declining prices of scrap because of restricted manufacturing and transportation across the globe as of 2020.