Saudi Arabia Recycled Metal Market Size & Outlook
Saudi Arabia recycled metal market, 2018-2030 (US$M)
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Saudi Arabia recycled metal market highlights
- The Saudi Arabia recycled metal market generated a revenue of USD 2.9 million in 2023 and is expected to reach USD 3.7 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 3.6% from 2024 to 2030.
- In terms of segment, steel was the largest revenue generating material in 2023.
- Aluminum is the most lucrative material segment registering the fastest growth during the forecast period.
Recycled metal market data book summary
| Market revenue in 2023 | USD 2.9 million |
| Market revenue in 2030 | USD 3.7 million |
| Growth rate | 3.6% (CAGR from 2023 to 2030) |
| Largest segment | Steel |
| Fastest growing segment | Aluminum |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Steel, Aluminum, Copper |
| Key market players worldwide | Commercial Metals Co, Norsk Hydro ASA, Tata Steel Ltd GDR - 144A, European Metal Recycling, GFG Alliance, Novelis |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.8% of the global recycled metal market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia recycled metal market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 2.3 million by 2030.
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Recycled Metal Market Scope
Recycled Metal Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia recycled metal market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to recycled metal market will help companies and investors design strategic landscapes.
Steel was the largest segment with a revenue share of 79.31% in 2023. Horizon Databook has segmented the Saudi Arabia recycled metal market based on steel, aluminum, copper covering the revenue growth of each sub-segment from 2018 to 2030.
Under Saudi Arabia’s Vision 2030, the government is focusing on developing several new sectors, such as manufacturing, mining, and logistics. Hence, the demand for automobiles is growing in Saudi Arabia.
As automotive sales continue to surge—reaching over 600,000 new car sales in 2022—there is a high need to address sustainable auto recycling practices in Saudi Arabia. At present, Saudi Arabia scraps over 250,000 end-of-life vehicles annually.
This number is likely to grow in the coming years due to government policies favoring metal recycling for different end uses. For instance, in January 2024, the Saudi government urged the citizens to remove their abandoned cars from traffic registration till March 2024.
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Target buyers of Saudi Arabia recycled metal market databook
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Our clientele includes a mix of recycled metal market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia recycled metal market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia recycled metal market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia recycled metal market size, by material, 2018-2030 (US$M)
Saudi Arabia Recycled Metal Market Outlook Share, 2023 & 2030 (US$M)
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