Turkey Recycled Metal Market Size & Outlook, 2023-2030
Turkey recycled metal market, 2018-2030 (US$M)
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Turkey recycled metal market highlights
- The Turkey recycled metal market generated a revenue of USD 11.0 million in 2023 and is expected to reach USD 16.7 million by 2030.
- The Turkey market is expected to grow at a CAGR of 6.1% 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 11.0 million |
| Market revenue in 2030 | USD 16.7 million |
| Growth rate | 6.1% (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, Turkey accounted for 3.0% 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 Europe, Russia recycled metal market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 18.9 million by 2030.
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Recycled Metal Market Scope
Recycled Metal Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Turkey 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 70% in 2023. Horizon Databook has segmented the Turkey recycled metal market based on steel, aluminum, copper covering the revenue growth of each sub-segment from 2018 to 2030.
The growing use of metal scrap as a raw material in electric arc furnaces (EAFs) and the increasing scrap generation from ship-breaking yards are driving the growth of the market in the country. In February 2023, an earthquake of magnitude 7.8 scale destroyed 160,000 buildings in Turkey.
Such large-scale destruction in the country contributed to the generation of construction waste. Steel bars, rods, and pipes present in destroyed buildings were treated as scrap and sent for recycling. Moreover, in 2022, several small and old cruise ships were sent for scrapping in Turkey, due to the aftershocks of the Pandemic.
The Aliga ship-breaking yard of the country disposed of six ships sent by Carnival Cruise Line. The scrap generated in the ship-breaking yards is further sent for metal recycling. Hence, with the surge in ship-breaking activities, the metal scrap generation is anticipated to increase in Turkey in the coming years.
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Our clientele includes a mix of recycled metal market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Turkey recycled metal market , including forecasts for subscribers. This country databook contains high-level insights into Turkey recycled metal market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Turkey recycled metal market size, by material, 2018-2030 (US$M)
Turkey Recycled Metal Market Outlook Share, 2023 & 2030 (US$M)
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