The global steel scrap market is projected to exhibit a CAGR of 4.9% and reach a volume size of 1,050 Million Metric Tons by 2033.

Steel is highly recyclable and is also the most recycled material in the world. One of the main components used to make steel is recycled steel. Steel is simple to separate from the waste stream and recycle due to the metal’s high magnetic characteristics. Steel recycling results in a considerable decrease in CO2 emissions, a reduction in the consumption of priceless iron ore, and substantial energy savings. Scrap is anticipated to make up a sizable amount of metal production in the future as deposits across the world decline and the cost of obtaining ore rises.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://bit.ly/3XsaZEJ

Future need for steel scrap is anticipated to be fueled by an increase in the demand for raw materials used in the steel manufacturing process from quickly growing emerging economies such as China, India, and Brazil. Steel has been able to meet the challenge provided by a variety of competitor materials due to the development of new lightweight goods, bake-hard enables grades and high-strength steels.

In addition to being one of the top steel producers in the world, ArcelorMittal is a well-known firm in Europe. The largest steel producer in America, Africa, and Europe is thought to be ArcelorMittal. Its global R&D division has been partnering with the automobile sector to determine how much more value can be obtained by deconstructing vehicles before they are shredded to recover scrap, and they are now working with the Worldsteel Association on several recycling projects.

For all of its ArcelorMittal Europe-Flat Product sites, ArcelorMittal engaged in a new sustainability program in Europe in November 2019 to obtain Responsible Steel site Certification.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐟𝐫𝐨𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲

• The global steel scrap market stands at 655 MMT in 2023.
• Worldwide demand for steel scrap is projected to increase at a steady CAGR of 4.9% during the forecast period (2023 to 2033).
• The market for steel scrap is estimated to touch 1,050 MMT by 2033.
• The obsolete segment is anticipated to expand at an annual rate of 5.3%.
• The market in China is predicted to evolve at 5.7% CAGR.

“Increasing efforts by steel producers to cut carbon emissions are anticipated to fuel market expansion during the projected period. Recycled steel requires less processing when reused, and manufacturers are using it more frequently,” says a Fact.MR analyst.

𝐖𝐢𝐧𝐧𝐢𝐧𝐠 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲

Both urbanization and industrialization in developing countries contribute to the market’s growth and the rising demand for steel. Also, governments of various countries have made favorable policies surrounding the metal recycling business in response to the growing worries about the rapid depletion of natural resources.

In May 2019, Aurubis AG acquired the Belgian-Spanish Metallo Group, enabling the business to aggressively pursue its multi-metal and recycling strategy. This purchase has improved the firm’s multi-metal portfolio, especially in the vital metals copper, nickel, tin, zinc, and lead.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: https://bit.ly/3r3CfNX

𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐒𝐭𝐞𝐞𝐥 𝐒𝐜𝐫𝐚𝐩 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭

• Baosteel Group Corporation
• EVRAZ North America
• BlueScope Steel Ltd.
• China Steel Corporation (CSC)
• Commercial Metals Company (CMS)
• Hyundai Motor Company
• CITIC Ltd.
• HBIS Group Co. Ltd.

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐒𝐭𝐞𝐞𝐥 𝐒𝐜𝐫𝐚𝐩 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

By Type :

• Obsolete
• Prompt
• Home

By Application :

• Construction
• Automotive
• Shipping
• Consumer Appliances

By Region :

• North America
• Latin America
• Europe
• Asia Pacific & China
• Middle East & Africa

𝐌𝐨𝐫𝐞 𝐕𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐨𝐧 𝐎𝐟𝐟𝐞𝐫

Fact.MR, in its new offering, presents an unbiased analysis of the global steel scrap market, presenting historical demand data (2018 to 2022) and forecast statistics (2023 to 2033).

The study divulges essential insights on the market based on type (obsolete, prompt, home) and application (construction, automotive, shipping, consumer appliances, other end uses), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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