Steel Scrap Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Scrap is a recyclable material left over from product manufacturing and consumption, such as parts of vehicles, building supplies, and surplus materials. Unlike waste, scrap has monetary value, mainly recovered metals, and non-metallic materials are also recovered for recycling. Steel scrap consists of discarded steel or steel products, usually segregated by composition and size or 'grade' suitable for melting.

MARKET DYNAMICS

The steel scrap market has witnessed a significant growth owing to factors such as increase in scrap usage innovations. Moreover, the sector consists of homogeneous steel and scraps from auto bodies, the augmented need of disposing such materials is expected to result in market growth during the forecast period. However, relatively high price is projected to hamper the overall growth of the steel scrap market.

MARKET SCOPE

The "Global Steel Scrap Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the steel scrap market with detailed market segmentation type, application, and geography. The global steel scrap market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading steel scrap market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global steel scrap market is segmented on the basis of grade and source. On the basis of grade, the global steel scrap market is divided into 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, and others. On the basis of application, the global steel scrap market is divided into home scrap, prompt scrap, and obsolete scrap.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global steel scrap market based on various segments. It also provides marketsize and forecast estimates from the year 2021to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The steel scrap market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the steel scrap market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the steel scrap market in these regions.

MARKET PLAYERS

The reports cover key developments in the steel scrap market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of marketplayers. The marketpayers from steel scrap market is anticipated to lucrative growth opportunities in the future with the rising demand for steel scrap in the global market. Below mentioned is the list of few companies engaged in the steel scrap market.
The report also includes the profiles of key companies along with their SWOT analysis and marketstrategies in the steel scrap market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   ArcelorMittal S.A.
  
•   Baosteel Resources Co., Ltd.
  
•   Commercial Metals Company
  
•   Gerdau Ameristeel Corporation
  
•   Maanshan Iron & Steel Company Limited
  
•   Metalico Inc.
  
•   Nucor Corporation
  
•   Oryx Stainless Group
  
•   Schnitzer Steel Industries Inc.
  
•   Steel Dynamics Inc.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Steel Scrap Report Scope