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Ferrous Scrap Recycling Market: By Type, Shredded Scrap, Old Steel Scrap, Cast Iron Scrap, and Manganese Steel Scrap), By Application, By End Use, and Region
Ferrous scrap recycling market size was valued at US$ 1,639.5 million in 2023 and is poised to grow at a CAGR of 12.9% from 2024-2030. The expanding need for steel in sectors like infrastructure, automotive, and construction, together with growing environmental concerns and regulatory backing for recycling methods, are what are driving the market. The utilization of scrap metal is more economical than virgin resources, which further propels market expansion.
However, obstacles exist in the market, including variable steel pricing and uneven supply of high-grade scrap. Nevertheless, technical improvements such as automation, AI-based sorting, and the growing use of electric arc furnaces (EAFs), which rely significantly on scrap steel, present substantial opportunities. The trends in the market are a move toward sustainability, the adoption of circular economy principles, and advancements in scrap management that improve the overall effectiveness of recycling procedures.
The ferrous scrap recycling market is inclusive of several companies such as American Iron & Metal Company, Inc., European Metal Recycling Ltd., Sims Metal Management, OmniSource Corp., Schnitzer Steel Industries, Inc., SA Recycling LLC, Ward Recycling Ltd, Inc., TSR Recycling GmbH & Co. KG, Rudolf Schuy GmbH & Co. KG, Innovative Metal Recycling.
By Type: The most common kind of scrap material in the market is Heavy Melting Steel (HMS), which comprises used steel items such as abandoned machinery, building waste, and outdated cars. Due to its accessibility and versatility, HMS is recommended, particularly for the manufacturing of innovative steel products using electric arc furnaces (EAFs). Another popular kind that is produced by automobiles and appliances and is frequently utilized in steel mills is shredded scrap. Because it is mostly utilized in the manufacturing of high-grade steel, busheling scrap, which is derived from new sheet steel offcuts and industry trash, is precious but less prevalent than HMS. Because of its extensive availability and adaptability, HMS continues to hold a prominent position.
By Application: The construction sector dominates the market due to the widespread usage of recycled steel in infrastructure projects, such as roads, bridges, and buildings. In the building sector, where economic and environmental considerations are crucial, recycled steel is favored because it is strong, affordable, and environmentally friendly. Another important use is the automotive industry, which uses recycled steel in the construction of vehicles, lowering production's carbon footprint and promoting sustainability. Additionally, recovered ferrous scrap is used to create durable items in the consumer goods and industrial machinery industries. The sheer amount of steel needed for major infrastructure projects keeps the construction industry at the top.
By End Use: Steel mills are the largest end consumers in the ferrous scrap recycling industry because of how much-recycled material they use. Steel mills benefit from cheaper production costs and less environmental effects by using ferrous trash to make new steel. Steel is used in many industries, such as construction and automotive, therefore its use contributes significantly to the need for ferrous scrap. While metal fabricators and car parts manufacturers depend on premium recycled steel for their manufacturing processes, foundries also play a significant role by employing recycled waste to create castings. Nonetheless, due to its size and dependence on scrap as a major raw resource, the steel mill industry continues to be the biggest user and the market leader for ferrous scrap recycling.
Study Period
2024-2030Base Year
2023CAGR
12.9%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The primary driver of the ferrous scrap recycling market is the expanding need for steel in industries like construction, automotive, and industry. The need for cost-effective and environmentally friendly steel production is growing as infrastructure development throughout the world accelerates, leading to a greater use of recovered ferrous waste. Environmental concerns are another significant driver since recycling is encouraged by stricter government regulations as a means of reducing carbon emissions and landfill waste. Steel producers also find scrap metal to be a more cost-effective option than virgin raw materials. A consistent supply of raw materials for recycling is ensured by urbanization and industry, which also contribute to the creation of scrap. The ferrous scrap recycling industry is generally still expanding because of sustainability and economic effectiveness
Several obstacles might prevent the market from expanding. One of the main obstacles is the volatility of steel prices, which can reduce the economic viability of recycling scrap when steel prices are low. The recycling process might also be hampered by the intermittent availability of high-quality scrap, as not all scrap can be used again to produce high-grade steel. Additionally, ineffective scrap collecting systems in some areas and the high energy costs related to recycling operations affect the market. In emerging nations, insufficient recycling facilities and limited infrastructure can serve as obstacles. All of these things work against the ferrous scrap recycling industry's steady and effective expansion.
There are many prospects for expansion in the market, especially thanks to new technology. Utilizing artificial intelligence (AI) and other advancements in automated sorting and processing technologies, scrap recycling is becoming more effective and high-quality. As more steel manufacturers transition to sustainable manufacturing practices, prospects are further expanded by the growing usage of electric arc furnaces (EAFs), which create steel mostly from scrap. Moreover, investments in recycling infrastructure are being driven by the circular economy movement, which prioritizes waste reduction and resource efficiency. Businesses may stand out by implementing eco-friendly procedures in response to the increased emphasis on sustainability and green steel manufacturing. Expanding into emerging markets in Latin America and Asia-Pacific is another possibility.
The growing use of electric arc furnaces (EAFs), which are more environmentally friendly and energy-efficient than conventional blast furnaces, is one of the major developments in the market. Another noteworthy development is the automation of scrap sorting and processing, which incorporates AI and machine learning to increase the precision and effectiveness of scrap management. The circular economy is also gaining popularity, as businesses integrate recycling into their everyday operations to cut waste and lessen their negative effects on the environment. The growing consumer and regulatory expectations for environmentally friendly goods are propelling the development of sustainable steel production methods, such as the utilization of recovered scrap.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2023 |
US$ 1,639.5 million |
Market CAGR |
12.9% |
By Type |
|
By Application |
|
By End User |
|
By Region |
|
The market for ferrous scrap recycling is expanding steadily due to the increased demand for steel in industries including industrial, automotive, and construction. Recycling has become an important strategy for the sector due to environmental concerns and government policies that encourage sustainable practices. Automation and better sorting techniques are two examples of technological developments that are increasing the effectiveness of scrap recycling. The need for ferrous scrap is further increased by the move to electric arc furnaces (EAFs), which mostly consume scrap steel. The market's long-term view is still favorable because of the rising circular economy efforts and sustainability tendencies, even in the face of obstacles like shifting steel pricing and scrap availability.
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Ferrous scrap recycling market size was valued at US$ 1,639.5 million in 2023 and is anticipated to garner at a CAGR of 12.9% from 2024-2030.
• Growing steel demand in the automotive and construction sectors
• Growing emphasis on recycling and environmental issues Government policies encouraging the use of recycled materials
• Utilizing scrap metal is more cost-effective than using fresh resources.
• Technological developments in recycling and garbage sorting procedures
• Increasing automation and artificial intelligence in scrap management
• Growing usage of scrap steel-using electric arc furnaces (EAFs)
• Initiatives for the circular economy that promote more recycling
American Iron & Metal Company, Inc., European Metal Recycling Ltd., Sims Metal Management, OmniSource Corp., Schnitzer Steel Industries, Inc., SA Recycling LLC, Ward Recycling Ltd, Inc., TSR Recycling GmbH & Co. KG, Rudolf Schuy GmbH & Co. KG, Innovative Metal Recycling., are the key companies in the ferrous scrap recycling market.
The key segments covered in the research report includes type, application, end-user, and region.
1.Executive Summary |
2.Global Ferrous Scrap Recycling Market Introduction |
2.1.Global Ferrous Scrap Recycling Market - Taxonomy |
2.2.Global Ferrous Scrap Recycling Market - Definitions |
2.2.1.Type |
2.2.2.Application |
2.2.3.End User |
2.2.4.Region |
3.Global Ferrous Scrap Recycling Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4.Global Ferrous Scrap Recycling Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Ferrous Scrap Recycling Market By Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
5.1. Heavy Melting scrap (HMS) |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Shredded Scrap |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Old Steel Scrap |
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Cast Iron Scrap |
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
5.5. Manganese Steel Scrap |
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.5.3. Market Opportunity Analysis |
6.Global Ferrous Scrap Recycling Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
6.1. Construction |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Automotive |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Shipbuilding |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Industrial Machinery |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Electronics |
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
6.6. Consumer Goods |
6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.6.3. Market Opportunity Analysis |
7.Global Ferrous Scrap Recycling Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
7.1. Steel Mills |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Foundries |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Metal Fabricators |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
7.4. Automotive Parts Manufacturers |
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.4.3. Market Opportunity Analysis |
8.Global Ferrous Scrap Recycling Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
8.1. North America |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Europe |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Asia Pacific (APAC) |
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Middle East and Africa (MEA) |
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Latin America |
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
9.North America Ferrous Scrap Recycling Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
9.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Heavy Melting scrap (HMS) |
9.1.2.Shredded Scrap |
9.1.3.Old Steel Scrap |
9.1.4.Cast Iron Scrap |
9.1.5.Manganese Steel Scrap |
9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Construction |
9.2.2.Automotive |
9.2.3.Shipbuilding |
9.2.4.Industrial Machinery |
9.2.5.Electronics |
9.2.6.Consumer Goods |
9.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Steel Mills |
9.3.2.Foundries |
9.3.3.Metal Fabricators |
9.3.4.Automotive Parts Manufacturers |
9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.4.1.United States of America (USA) |
9.4.2.Canada |
10.Europe Ferrous Scrap Recycling Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Heavy Melting scrap (HMS) |
10.1.2.Shredded Scrap |
10.1.3.Old Steel Scrap |
10.1.4.Cast Iron Scrap |
10.1.5.Manganese Steel Scrap |
10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Construction |
10.2.2.Automotive |
10.2.3.Shipbuilding |
10.2.4.Industrial Machinery |
10.2.5.Electronics |
10.2.6.Consumer Goods |
10.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Steel Mills |
10.3.2.Foundries |
10.3.3.Metal Fabricators |
10.3.4.Automotive Parts Manufacturers |
10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.4.1.Germany |
10.4.2.France |
10.4.3.Italy |
10.4.4.United Kingdom (UK) |
10.4.5.Spain |
11.Asia Pacific (APAC) Ferrous Scrap Recycling Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Heavy Melting scrap (HMS) |
11.1.2.Shredded Scrap |
11.1.3.Old Steel Scrap |
11.1.4.Cast Iron Scrap |
11.1.5.Manganese Steel Scrap |
11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Construction |
11.2.2.Automotive |
11.2.3.Shipbuilding |
11.2.4.Industrial Machinery |
11.2.5.Electronics |
11.2.6.Consumer Goods |
11.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.Steel Mills |
11.3.2.Foundries |
11.3.3.Metal Fabricators |
11.3.4.Automotive Parts Manufacturers |
11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.4.1.China |
11.4.2.India |
11.4.3.Australia and New Zealand (ANZ) |
11.4.4.Japan |
11.4.5.Rest of APAC |
12.Middle East and Africa (MEA) Ferrous Scrap Recycling Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Heavy Melting scrap (HMS) |
12.1.2.Shredded Scrap |
12.1.3.Old Steel Scrap |
12.1.4.Cast Iron Scrap |
12.1.5.Manganese Steel Scrap |
12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Construction |
12.2.2.Automotive |
12.2.3.Shipbuilding |
12.2.4.Industrial Machinery |
12.2.5.Electronics |
12.2.6.Consumer Goods |
12.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Steel Mills |
12.3.2.Foundries |
12.3.3.Metal Fabricators |
12.3.4.Automotive Parts Manufacturers |
12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.4.1.GCC Countries |
12.4.2.South Africa |
12.4.3.Rest of MEA |
13.Latin America Ferrous Scrap Recycling Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.1.1.Heavy Melting scrap (HMS) |
13.1.2.Shredded Scrap |
13.1.3.Old Steel Scrap |
13.1.4.Cast Iron Scrap |
13.1.5.Manganese Steel Scrap |
13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.2.1.Construction |
13.2.2.Automotive |
13.2.3.Shipbuilding |
13.2.4.Industrial Machinery |
13.2.5.Electronics |
13.2.6.Consumer Goods |
13.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.3.1.Steel Mills |
13.3.2.Foundries |
13.3.3.Metal Fabricators |
13.3.4.Automotive Parts Manufacturers |
13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.4.1.Brazil |
13.4.2.Mexico |
13.4.3.Rest of LA |
14. Competition Landscape |
14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
14.2.1.American Iron & Metal Company, Inc. |
14.2.2.European Metal Recycling Ltd. |
14.2.3.Sims Metal Management |
14.2.4.OmniSource Corp. |
14.2.5.Schnitzer Steel Industries, Inc. |
14.2.6.SA Recycling LLC |
14.2.7.Ward Recycling Ltd, Inc. |
14.2.8.TSR Recycling GmbH & Co. KG |
14.2.9.Rudolf Schuy GmbH & Co. KG |
14.2.10.Innovative Metal Recycling |
15. Research Methodology |
16. Appendix and Abbreviations |
Key Market Players