Malaysia Scrap Metal Recycling Market (2023-2029) | Trends, Size, Forecast, Value, Analysis, Industry, Share, Revenue, Growth, Outlook & COVID-19 IMPACT

Malaysia Scrap Metal Recycling Market Synopsis

Malaysia Scrap Metal Recycling Market is forecast to grow during the forecast period by the growing construction industry and the need for steel in infrastructure development projects. Additionally, the increasing number of end-of-life vehicles and the need for recycling of metals from these vehicles are another key driver of the market growth. However, low prices of scrap metal, lack of awareness among consumers, and stringent regulations are some of the challenges faced by the market. The government has taken steps to regulate the Malaysia scrap metal recycling industry.

According to 6Wresearch, the Malaysia Scrap Metal Recycling Market is projected to grow at a higher growth rate during the 2023-2029. The primary drivers for the growth of the scrap metal recycling market in Malaysia are increasing environmental awareness and the need for sustainable development. Additionally, the growing construction industry, rising disposable incomes, and changing consumer preferences are also driving the Malaysia scrap metal recycling market growth. The government of Malaysia is taking initiatives to promote the efficient use of resources and reduce environmental pollution. However, the country has a large informal sector which is not regulated, and makes it difficult to track and monitor scrap metal recycling activities. Also, there is a lack of infrastructure and facilities for collecting and processing scrap metal. Apart from this, the amount of electronic waste(e-waste) in Malaysia has been increasing over the years due to the continuous advancement in technology. In addition to that, awareness programmes should be conducted in schools and universities to educate the public about the hazards of e-waste burning and improper disposal.

COVID-19 Impact on the Malaysia Scrap Metal Recycling Market

During the pandemic, the demand for metal products in Malaysia has deteriorated, particularly in the automotive and construction industries. This has resulted in the reduced demand for scrap metal and a decrease in prices. The pandemic has also disrupted global supply chains, making it difficult for scrap metal recyclers to import and export scrap metal. The pandemic has also led to a reduction in the volume of scrap metal collected in Malaysia. However, the pandemic has also created opportunities for the scrap metal recycling market in Malaysia as the government is taking measures to promote the recycling industry, such as providing incentives for the recycling of electronic waste.

Market Analysis by Application

According to Ravi Bhandari, Research Head, 6Wresearch, the commercial sector is the largest application segment for recycled scrap metal in Malaysia owing to the growing demand for infrastructure development and construction activities in the country.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Malaysia Scrap Metal Recycling Market Outlook
• Market Size of Malaysia Scrap Metal Recycling Market, 2022
• Forecast of Malaysia Scrap Metal Recycling Market, 2029
• Historical Data and Forecast of Malaysia Scrap Metal Recycling Revenues & Volume for the Period 2019 - 2029
• Malaysia Scrap Metal Recycling Market Trend Evolution
• Malaysia Scrap Metal Recycling Market Drivers and Challenges
• Malaysia Scrap Metal Recycling Price Trends
• Malaysia Scrap Metal Recycling Porter's Five Forces
• Malaysia Scrap Metal Recycling Industry Life Cycle
• Historical Data and Forecast of Malaysia Scrap Metal Recycling Market Revenues & Volume By Type for the Period 2019 - 2029
• Historical Data and Forecast of Malaysia Scrap Metal Recycling Market Revenues & Volume By Iron for the Period 2019 - 2029
• Historical Data and Forecast of Malaysia Scrap Metal Recycling Market Revenues & Volume By Copper for the Period 2019 - 2029
• Historical Data and Forecast of Malaysia Scrap Metal Recycling Market Revenues & Volume By Aluminum for the Period 2019 - 2029
• Historical Data and Forecast of Malaysia Scrap Metal Recycling Market Revenues & Volume By Lead for the Period 2019 - 2029
• Historical Data and Forecast of Malaysia Scrap Metal Recycling Market Revenues & Volume By Applications for the Period 2019 - 2029
• Historical Data and Forecast of Malaysia Scrap Metal Recycling Market Revenues & Volume By Residential & Commercial for the Period 2019 - 2029
• Historical Data and Forecast of Malaysia Scrap Metal Recycling Market Revenues & Volume By Industrial for the Period 2019 - 2029
• Malaysia Scrap Metal Recycling Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Applications
• Malaysia Scrap Metal Recycling Top Companies Market Share
• Malaysia Scrap Metal Recycling Competitive Benchmarking By Technical and Operational Parameters
• Malaysia Scrap Metal Recycling Company Profiles
• Malaysia Scrap Metal Recycling Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

• Iron
• Copper
• Aluminum
• Lead

By Applications

• Residential & Commercial
• Industrial