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Metal Recycling Market: Global Industry Analysis and Forecast 2021-2027 Metal Recycling Market was valued at US$ 51.3 Bn. in 2020. Recycling is defined as the processing of spent metal by transforming scrap into a finished product that may be utilized to manufacture new items. Recycling helps to reduce the amount of solid waste accessible since if not recycled, this garbage will eventually wind up in barren landfills, causing environmental deterioration and pollution. Many metals, such as steel, are easily recyclable and retain all of their qualities, unlike plastic, which loses its usability after recycling.