Global Steel Scrap Market to 2030, Driven by Technological Advancements and Increasing Demand in Steel Production

Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "Steel Scrap: Global Strategic Business Report" report has been added to'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:




  • 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



  • 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




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