Metal recycling could be worth more than $100bn by the end of this decade, according to a report.
The study, by insights specialists Research and Markets, forecast a compound annual growth rate (CAGR) for the sector of just under 7 per cent between 2024 and 2029.
It said this would take the value of the global metal recycling market from $72bn to £101bn over this period.
A CAGR of 7.4 per cent over the following five years would then boost the sector further to $144bn by 2034, according to the research.
The study said non-ferrous metal recycling would grow more quickly than its counterpart over the next few years.
Although accounting for less than a third of the total market in 2024, the not-iron-or-steel category is expected to grow at a CAGR of 8.3 per cent to 2029.
Aluminium recycling is forecast to be the fastest growing segment of the sector over that period.
Analysts said strategies for the recycled metal market included developing innovative solutions for resource scarcity and low-carbon metal demand.
