Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "Steel Scrap: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Steel Scrap estimated at 624.5 Million Metric Tons in the year 2022, is projected to reach a revised size of 918.3 Million Metric Tons by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030.
Obsolete, one of the segments analyzed in the report, is projected to record a 5.8% CAGR and reach 525.1 Million Metric Tons by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Prompt segment is readjusted to a revised 3.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at 55.8 Million Metric Tons, While China is Forecast to Grow at 5.7% CAGR
The Steel Scrap market in the U.S. is estimated at 55.8 Million Metric Tons in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of 361.7 Million Metric Tons by the year 2030 trailing a CAGR of 5.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 3.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 150.3 Million Metric Tons by the year 2030.
Select Competitors (Total 82 Featured) -
- ArcelorMittal S.A.
- Baosteel Group Corporation
- Commercial Metals Company
- EVRAZ North America
- Gerdau S/A
- Metalico, Inc.
- Nucor Corporation
- Oryx Stainless Group
- Schnitzer Steel Industries, Inc.
- Sims Metal Management Limited
- Steel Dynamics, Inc.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed?
- Progress on Vaccinations: Why Should Businesses Care?
- With IMF's Upward Revision of Global GDP Forecasts, Most Companies are Bullish about an Economic Comeback Despite a Continuing Pandemic
- A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2023
- Supply Chain Disruptions Curtail Steel Scrap Consumption Volumes
- Impact of the Pandemic on Steel Scrap Industry
- Steel Scrap - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Despite Short-Term Negative Tide Due to COVID-19 Crisis, Steel Scrap Market Poised to Prosper in the Long-Term
- Benefits of Scrap Steel Vs. Iron Ore in Steel Production (in %)
- Steel Recovery Rates of Various Industries
- Steel Scrap Industry Likely to Benefit from Decarbonization Trends
- Critical Importance of Steel in Every Aspect of Human Life to Sustain Momentum in the Steel Scrap Market in the Post COVID-19 Period
- A Snapshot of Steel End-Use Sectors
- Steel Production Prospers in 2017-2020 Period
- World Crude Steel Production (2012-2020) in Million Tons
- Exports Scenario Dominated by China
- Leading Steel Exporting Countries (2020): Exports (in Million Metric Tons) for China, Russia, Japan, South Korea, European Union, Germany, Turkey, India, Ukraine, Italy, Belgium, Brazil, France, Taiwan, and Malaysia
- China Becomes the Top Steel Importer
- Leading Steel Importing Countries (2020): Imports (in Million Metric Tons) for China, European Union, United States, Germany, Italy, Vietnam, Turkey, France, South Korea, Poland, Belgium, Indonesia, Spain, Saudi Arabia, and Netherlands
- Analysis by Scrap Type
- Steel Scrap Trade Scenario
- Leading Volume Importers (Million Metric Tons) of Ferrous Scrap (2020)
- Leading Volume Exporters (Million Metric Tons) of Ferrous Scrap (2020)
- Steel Scrap: An Introduction
- Grades of Steel Scrap
- Steel Scrap Sorting & Preparation Methods
- Steel Scrap Recycling
- Recent Market Activity
- Select Global Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Advancements & Innovations in Scrap Extraction and Processing Drive Growth
- Digitization Comes to the Fore to Reinforce Steel Scrap Ecosystem
- Sophisticated Technologies Make Inroads
- Recent Technological Advances in Scrap Metal Recycling
- New Sorting Technologies & Mechanisms
- High-Tech IT Solutions
- Advanced Scrap Metal-to-Steel Conversion Processes
- Artificial Intelligence
- Use of X-Rays
- Bright Prospects for Stainless Steel Scrap Market
- Anticipated Revival in the Construction Sector to Renew Steel Demand, Triggering Parallel Momentum in Steel Scrap Market
- World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
- Revival of Automotive Industry in Post COVID-19 Period to Instigate Fresh Growth Opportunities
- World Automobile Production in Million Units: 2008-2022
- Relevance of Steel in Household Appliances & Metal Goods Domains to Underpin Steel Scrap Demand in Upcoming Years
- High Volume Opportunities to Re-Emerge in Shipping Sector in Post COVID-19 Environment
- Pivotal Role of Steel in Machinery Manufacturing Augurs Well for Future Growth
- Steel Scrap Recycling to Grow in Prominence amid Rising Emphasis on Reducing CO2 Emissions
- Steel Industry: Current & Future Prospects to Influence Steel Scrap Market
- Green Trend Catches Up Steel Industry
- Evolving Role of Electric Arc Furnace in Steel Making to Drive Scrap Demand
- Global Production of Crude Steel (2020): Percentage Breakdown by Method of Production by Select Region
- Steel Production by Manufacturing Process in Select Countries (2020)
- A Note on Steel Scrap Pricing Trends
- Key Challenges Confronting the Steel Scrap Market
- Growing Prominence of Alternative Metals in Steel Recycling
- Export Restrictions on Steel Scrap
- Declining Use of Steel in Automobiles
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/pvz966
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