Global Steel Scrap Industry Report 2023-2030: High Volume Opportunities to Re-Emerge in Shipping Sector in Post COVID-19 Environment

DUBLIN, Dec. 1, 2023 /PRNewswire/ — The “Steel Scrap – Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.

Global Steel Scrap Market to Reach 738 Million Metric Tons by 2030

The global market for Steel Scrap estimated at 519.5 Million Metric Tons in the year 2022, is projected to reach a revised size of 738 Million Metric Tons by 2030, growing at a CAGR of 4.5% over the analysis period 2022-2030. Obsolete, one of the segments analyzed in the report, is projected to record 5.5% CAGR and reach 414.3 Million Metric Tons by the end of the analysis period. Growth in the Prompt segment is estimated at 3.2% CAGR for the next 8-year period.

This report thoroughly examines the steel scrap industry, with a particular focus on the repercussions of supply chain disruptions and the profound impact of the COVID-19 pandemic on steel scrap consumption volumes. It delves into the competitive landscape, offering insights into the market share of global key competitors in 2023 and categorizing their market presence.

Despite short-term challenges, the report underscores the steel scrap market’s promising long-term prospects, elucidating the advantages of scrap steel compared to iron ore in steel production and its potential role in decarbonization trends within the steel industry. Furthermore, it emphasizes the critical importance of steel in various aspects of human life. The report also provides in-depth analysis of steel production trends over the period from 2017 to 2022, including data on world crude steel production.

Additionally, it explores the global trade dynamics surrounding steel scrap, highlighting leading exporting and importing countries. Furthermore, it offers insights into different scrap types, methods for distinguishing stainless steel scrap from other metal scraps, scrap sorting, preparation techniques, and the crucial practice of steel scrap recycling. The report concludes with an overview of recent market activity and identifies key global brands in the steel scrap market.

The U.S. Market is Estimated at 49.5 Million Metric Tons, While China is Forecast to Grow at 5.5% CAGR

The Steel Scrap market in the U.S. is estimated at 49.5 Million Metric Tons in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of 287.4 Million Metric Tons by the year 2030 trailing a CAGR of 5.5% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.

What`s New?

Special discussions on the global economic climate and market sentimentCoverage on global competitiveness and key competitor percentage market sharesMarket presence analysis across multiple geographies – Strong/Active/Niche/TrivialOnline interactive peer-to-peer collaborative bespoke updatesAccess to digital archives and trademarked research platformComplimentary updates for one yearAccess to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET TRENDS & DRIVERS

Increased Global Steel Demand Fueling Demand for Ferrous ScrapAdvancements & Innovations in Scrap Extraction and Processing Drive GrowthDigitization Comes to the Fore to Reinforce Steel Scrap EcosystemSophisticated Technologies Make InroadsRecent Technological Advances in Scrap Metal RecyclingNew Sorting Technologies & MechanismsHigh-Tech IT SolutionsAdvanced Scrap Metal-to-Steel Conversion ProcessesArtificial IntelligenceResearchers Develop Deep Learning-Based Model for Classifying and Rating Steel ScrapUse of X-RaysBright Prospects for Stainless Steel Scrap MarketRevival in the Construction Sector to Renew Steel Demand, Triggering Parallel Momentum in Steel Scrap MarketWorld Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022Revival of Automotive Industry in Post COVID-19 Period to Instigate Fresh Growth OpportunitiesWorld Automobile Production in Million Units: 2008-2022Relevance of Steel in Household Appliances & Metal Goods Domains to Underpin Steel Scrap Demand in Upcoming YearsHigh Volume Opportunities to Re-Emerge in Shipping Sector in Post COVID-19 EnvironmentPivotal Role of Steel in Machinery Manufacturing Augurs Well for Future GrowthSteel Scrap Recycling to Grow in Prominence amid Rising Emphasis on Reducing CO2 EmissionsProcesses and Benefits of Steel RecyclingSteel Industry: Current & Future Prospects to Influence Steel Scrap MarketGreen Trend Catches Up Steel IndustryEvolving Role of Electric Arc Furnace in Steel Making to Drive Scrap DemandGlobal Production of Crude Steel (2022): Percentage Breakdown by Method of Production by Select RegionSteel Production by Manufacturing Process in Select Countries (2022)A Note on Steel Scrap Pricing TrendsKey Challenges Confronting the Steel Scrap MarketGrowing Prominence of Alternative Metals in Steel RecyclingExport Restrictions on Steel ScrapDeclining Use of Steel in Automobiles

FOCUS ON SELECT PLAYERS (Total 73 Featured)

ArcelorMittal S.A.Baosteel Group CorporationCommercial Metals CompanyEVRAZ North AmericaGerdau S/AMetalico, Inc.Nucor CorporationOryx Stainless GroupSchnitzer Steel Industries, Inc.Sims Metal Management LimitedSteel Dynamics, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/z34aeh

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