According to the forecasts of Acumen Research and Consulting, the global metal recycle market value is expected to reach nearly USD 950 billion by 2026, and the growth can be at a CAGR of above 3.8% during the predicted time frame. For the forecast 2018 was taken as the base year and 2019-26 as the forecast period.
The simple answer is that iron is found in ferrous metals and is not in non-ferrous metals. Ferrous metals are those metals which mostly contain iron. They have also a small number of other elements or metals also. Generally, ferrous metals are magnetic. Ferrous metals are often used in construction, pipelines, and even the creation of tools.