The Steel Scrap Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Grade (Shredded, No.1 busheling, Cut structural and plate, No.1 and electric furnace bundles, No.2 heavy metal steel and bundles, No.1 heavy metal, Turnings and borings, Slag, Others), By Source (Home scrap, Prompt scrap, Obsolete scrap).
The Steel Scrap market is experiencing notable growth in 2024, driven by its critical role in the circular economy, steel production, and raw material supply chains worldwide. Steel scrap, obtained from recycled steel products and manufacturing waste, serves as a valuable feedstock for electric arc furnaces and integrated steel mills, reducing energy consumption, carbon emissions, and resource depletion. Market dynamics are influenced by factors such as urbanization, infrastructure renewal projects, and regulatory mandates promoting recycling and sustainability. Furthermore, advancements in scrap collection, sorting technologies, and scrap-based steelmaking processes contribute to market competitiveness and innovation in the Steel Scrap market, fostering resource efficiency and environmental stewardship in the steel industry.
A prominent trend in the Steel Scrap Market is the rising adoption of circular economy practices. With increasing emphasis on sustainability and resource efficiency, there's a growing shift towards recycling and reusing steel scrap as a valuable raw material in steel production. The circular economy model promotes the reuse, remanufacture, and recycling of materials to minimize waste generation and conserve resources. As a result, steel scrap is increasingly being recognized as a critical feedstock for the steel industry, driving demand for scrap recycling and processing services. This trend is fueled by factors such as regulatory initiatives to reduce carbon emissions, corporate sustainability goals, and consumer preferences for environmentally responsible products and production processes.
A key market driver for the Steel Scrap Market is the growing demand for steel in construction and manufacturing industries. Steel is a vital material used in various applications, including building construction, infrastructure development, automotive manufacturing, and machinery production. As global economic growth spurs construction activity and industrial output, there's a continuous need for steel to support infrastructure projects, urbanization, and industrial expansion. Steel scrap serves as a cost-effective and environmentally friendly alternative to primary steel production, offering energy savings and reducing greenhouse gas emissions. This driver is propelled by factors such as population growth, urbanization trends, infrastructure investments, and industrialization in emerging markets, shaping market demand and driving investment in the steel scrap market.
An opportunity in the Steel Scrap Market lies in the development of advanced sorting and recycling technologies. Innovations in scrap processing, sorting, and recycling techniques offer opportunities to enhance efficiency, recover higher-quality scrap materials, and improve overall resource utilization. Advanced technologies such as automated sorting systems, magnetic separation, and sensor-based sorting solutions enable more precise separation of steel scrap from other materials, increasing the yield and purity of recycled steel. Additionally, advancements in metallurgical processes, such as electric arc furnace technology and scrap pre-processing methods, contribute to the production of high-quality steel products from recycled scrap. By investing in research and development of advanced recycling technologies, stakeholders can improve their competitive edge, optimize resource utilization, and capitalize on opportunities for growth and innovation in the steel scrap market.
By Grade
By Source
Geographical Analysis
*List not exhaustive
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TABLE OF CONTENTS
1 Introduction to 2024 Steel Scrap Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Steel Scrap Market Size Outlook, $ Million, 2021 to 2030
3.2 Steel Scrap Market Outlook by Type, $ Million, 2021 to 2030
3.3 Steel Scrap Market Outlook by Product, $ Million, 2021 to 2030
3.4 Steel Scrap Market Outlook by Application, $ Million, 2021 to 2030
3.5 Steel Scrap Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Steel Scrap Market Industry
4.2 Key Market Trends in Steel Scrap Market Industry
4.3 Potential Opportunities in Steel Scrap Market Industry
4.4 Key Challenges in Steel Scrap Market Industry
5 Market Factor Analysis
5.1 Competitive Landscape
5.1.1 Global Steel Scrap Market Share by Company (%), 2023
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Steel Scrap Market Outlook By Segments
7.1 Steel Scrap Market Outlook by Segments
By Grade
Shredded
No.1 busheling
Cut structural and plate
No.1 and electric furnace bundles
No.2 heavy metal steel and bundles
No.1 heavy metal
Turnings and borings
Slag
Others
By Source
Home scrap
Prompt scrap
Obsolete scrap
8 North America Steel Scrap Market Analysis And Outlook To 2030
8.1 Introduction to North America Steel Scrap Markets in 2024
8.2 North America Steel Scrap Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Steel Scrap Market size Outlook by Segments, 2021-2030
By Grade
Shredded
No.1 busheling
Cut structural and plate
No.1 and electric furnace bundles
No.2 heavy metal steel and bundles
No.1 heavy metal
Turnings and borings
Slag
Others
By Source
Home scrap
Prompt scrap
Obsolete scrap
9 Europe Steel Scrap Market Analysis And Outlook To 2030
9.1 Introduction to Europe Steel Scrap Markets in 2024
9.2 Europe Steel Scrap Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Steel Scrap Market Size Outlook By Segments, 2021-2030
By Grade
Shredded
No.1 busheling
Cut structural and plate
No.1 and electric furnace bundles
No.2 heavy metal steel and bundles
No.1 heavy metal
Turnings and borings
Slag
Others
By Source
Home scrap
Prompt scrap
Obsolete scrap
10 Asia Pacific Steel Scrap Market Analysis And Outlook To 2030
10.1 Introduction to Asia Pacific Steel Scrap Markets in 2024
10.2 Asia Pacific Steel Scrap Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Steel Scrap Market size Outlook by Segments, 2021-2030
By Grade
Shredded
No.1 busheling
Cut structural and plate
No.1 and electric furnace bundles
No.2 heavy metal steel and bundles
No.1 heavy metal
Turnings and borings
Slag
Others
By Source
Home scrap
Prompt scrap
Obsolete scrap
11 South America Steel Scrap Market Analysis And Outlook To 2030
11.1 Introduction to South America Steel Scrap Markets in 2024
11.2 South America Steel Scrap Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Steel Scrap Market size Outlook by Segments, 2021-2030
By Grade
Shredded
No.1 busheling
Cut structural and plate
No.1 and electric furnace bundles
No.2 heavy metal steel and bundles
No.1 heavy metal
Turnings and borings
Slag
Others
By Source
Home scrap
Prompt scrap
Obsolete scrap
12 Middle East And Africa Steel Scrap Market Analysis And Outlook To 2030
12.1 Introduction to Middle East and Africa Steel Scrap Markets in 2024
12.2 Middle East and Africa Steel Scrap Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Steel Scrap Market size Outlook by Segments, 2021-2030
By Grade
Shredded
No.1 busheling
Cut structural and plate
No.1 and electric furnace bundles
No.2 heavy metal steel and bundles
No.1 heavy metal
Turnings and borings
Slag
Others
By Source
Home scrap
Prompt scrap
Obsolete scrap
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
Ansteel Group Corp Ltd
ArcelorMittal SA
Baosteel Group Corp
Benxi Steel Group Co. Ltd
China Baowu Steel Group Corp
Commercial Metals Co.
EVRAZ Plc
Gerdau SA
JSW STEEL Ltd
Metalico Inc
Metinvest B.V
Nippon Steel Corp
Nucor Corp
Oryx Stainless AG
Schnitzer Steel Industries Inc
Sims Ltd
Steel and Scrap Pvt. Ltd
Steel Dynamics Inc
Tata Steel Ltd
United States Steel Corp
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Grade
By Source
Geographical Analysis
The global Steel Scrap Market is one of the lucrative growth markets, poised to register a 5.4% growth (CAGR) between 2024 and 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Ansteel Group Corp Ltd, ArcelorMittal SA, Baosteel Group Corp, Benxi Steel Group Co. Ltd, China Baowu Steel Group Corp, Commercial Metals Co., EVRAZ Plc, Gerdau SA, JSW STEEL Ltd, Metalico Inc, Metinvest B.V, Nippon Steel Corp, Nucor Corp, Oryx Stainless AG, Schnitzer Steel Industries Inc, Sims Ltd, Steel and Scrap Pvt. Ltd, Steel Dynamics Inc, Tata Steel Ltd, United States Steel Corp
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume
5.4