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Steel Scrap - Global Market Trajectory & Analytics

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    Report

  • 433 Pages
  • May 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 1382319

FEATURED COMPANIES

  • ArcelorMittal S.A.
  • Commercial Metals Company
  • EVRAZ North America
  • Gerdau Group
  • Metalico, Inc.
  • Nucor Corporation

Global Steel Scrap Market to Reach 748.2 Million Metric Tons by 2026


Steel scrap forms one of the most important raw materials required for the manufacture of steel, apart from iron ore and metallurgical coal. Steel and iron scrap represents important raw materials in the production process of steel. The steel industry is directly dependent on the supply of scrap. Steel is highly recyclable, and is the world's most recycled material. Recycled steel is among the key materials use for the production of steel. The high magnetic properties of the metal make it easy for steel to be segregated from waste stream and recycled. The recycling of steel leads to significant reductions of CO2 emissions, reduced usage of precious iron ore, and substantial energy savings. Moreover, as the global reserves shrivel and the cost of extracting ore rises, scrap is expected to account for major portion of metal production in future. In the future, rising demand for raw materials used in steel making industry from rapidly expanding emerging markets such as China, India and Brazil is expected to fuel demand for steel scrap. The development of new lightweight products, bake hardenable grades, and high strength steels has allowed steel to withstand the challenge posed by a wide range of competitive materials.

Amid the COVID-19 crisis, the global market for Steel Scrap estimated at 629.4 Million Metric Tons in the year 2022, is projected to reach a revised size of 748.2 Million Metric Tons by 2026, growing at a CAGR of 4.5% over the analysis period. Obsolete, one of the segments analyzed in the report, is projected to grow at a 5.3% CAGR to reach 438.5 Million Metric Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Prompt segment is readjusted to a revised 3.4% CAGR for the next 7-year period. This segment currently accounts for a 26.3% share of the global Steel Scrap market. Obsolete scrap, or old scrap, represents the largest segment. Obsolete scrap consists of any redundant steel product with no usage life and is generally collected when the products made from steel reach their end of life. Prompt scrap is obtained when steel products are being manufactured. This type of scrap consists of punchings, turnings, borings and cuttings.

The U.S. Market is Estimated at 54.1 Million Metric Tons in 2022, While China is Forecast to Reach 301.7 Million Metric Tons by 2026


The Steel Scrap market in the U.S. is estimated at 54.1 Million Metric Tons in the year 2022. The country currently accounts for a 8.78% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 301.7 Million Metric Tons in the year 2026 trailing a CAGR of 5.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR while Rest of European market (as defined in the study) will reach 319.3 Million Metric Tons by the end of the analysis period. China represents a key producer of steel, driven by the Chinese government`s measures to improve the residential construction market by lowering share of down payments for home buyers. Crude steel production in the US is expected to improve in the near term owing to the implementation of tariffs on steel imports and anti-dumping and countervailing duties, leading to increased production and better capacity utilization.

Home Segment to Reach 147.9 Million Metric Tons by 2026


Almost 75% of all the household appliances consist of steel. Steel is increasingly used in home furnishings from metal beds to robust home office equipment to dining tables and chairs. The toughness, corrosion resistance and flexibility of steel make it a perfect option for all the furnishings. Steel also makes its vital presence in architectural fine points such as room dividers, stairways, steel lamps, and steel tables. Textured steel floors with a glossy, ultra-modern look generally withstand heavy traffic. In the global Home segment, USA, Canada, Japan, China and Europe will drive the 3.18% CAGR estimated for this segment. These regional markets accounting for a combined market size of 86.1 Million Metric Tons will reach a projected size of 111.6 Million Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 24.6 Million Metric Tons by the year 2026, while Latin America will expand at a 3.8% CAGR through the analysis period

Select Competitors (Total 82 Featured):

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

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

FEATURED COMPANIES

  • ArcelorMittal S.A.
  • Commercial Metals Company
  • EVRAZ North America
  • Gerdau Group
  • Metalico, Inc.
  • Nucor Corporation

I. METHODOLOGYII. 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
  • EXHIBIT 1: 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
  • EXHIBIT 2: Steel Scrap - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 82 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
  • EXHIBIT 3: Benefits of Scrap Steel Vs. Iron Ore in Steel Production (in %)
  • EXHIBIT 4: 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
  • EXHIBIT 5: World Crude Steel Production (2012-2020) in Million Tons
  • Exports Scenario Dominated by China
  • EXHIBIT 6: 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
  • EXHIBIT 7: 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
  • EXHIBIT 8: Leading Volume Importers (Million Metric Tons) of Ferrous Scrap (2020)
  • EXHIBIT 9: 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
  • EXHIBIT 10: 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
  • EXHIBIT 11: 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
  • EXHIBIT 12: Global Production of Crude Steel (2020): Percentage Breakdown by Method of Production by Select Region
  • EXHIBIT 13: 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 PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Steel Scrap Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • EXHIBIT 14: US Apparent Steel* Consumption in Million Metric Tons (2013-2020)
  • EXHIBIT 15: US Crude Steel Market (2021E): Percentage Breakdown of Volume Production by Type of Process - Electric Furnace and Oxygen Blown Converter
  • Steel and Scrap Momentum to Continue in Future
  • US Ferrous Scrap Market Outlook
  • Factors Impacting Steel Scrap Prices
  • EXHIBIT 16: US Steel Scrap Price Trends 2012-2021E
  • Scrap Export Scenario
  • EXHIBIT 17: US Iron & Steel Scrap Exports 2010-2020 (In Million Tons)
  • Market Analytics
CANADA
JAPAN
  • Steel Scrap Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Market Analytics
CHINA
  • Steel Scrap Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • China Redirects Focus on Restructuring its Steel Industry
  • Steel Scrap Market
  • Scrap Recycling: Industry Structure
  • China’s Move to Alienate from Global Scrap Market Leaves Local Steel Manufacturers with Thin Margins
  • Potential Impact of China’s Scrap Import Policy Changes on Market Dynamics
  • The Steel Scrap Futures of China
  • Market Analytics
EUROPE
  • Steel Scrap Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • EXHIBIT 18: Europe Crude Steel Production by Select Country (2020): Percentage Share Breakdown of Steel Production by Process
  • European Safety Regulations for Handling of Steel Scrap
  • Market Analytics
FRANCE
GERMANY
  • Market Overview
  • Market Analytics
ITALYUNITED KINGDOMSPAINRUSSIATURKEYREST OF EUROPE
ASIA-PACIFIC
  • Steel Scrap Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Analytics
INDIA
  • Market Overview
  • Market Analytics
SOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICABRAZILREST OF LATIN AMERICAREST OF WORLD
IV. COMPETITION
  • Total Companies Profiled: 82

A selection of companies mentioned in this report includes:

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