Recycled Steel Market to Reflect Impressive Growth Rate During 2017 – 2025

Recycled Steel Industry: Market Dynamics

Certain factors such as increase in demand for scrap steel for the production of steel, application in automobile industry, increasing investments in equipment used for scrap metal extraction, uses of recycled steel such as structural steel and light gauge in building and construction industry, and establishment of steel mills using the technology of electric arc furnace, act as the main drivers of this market. Also, factors such as increasing prominence of other alternative metals and restrictions in export of scrap steel can be considered as challenges in recycled steel industry over the forecast period.

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Some technical factors such as the necessity of detailed knowledge of process and product, quality and warranty of the components, lack of normalization of any component and factors such as assured supply, insufficient storage space, cost incurred in storage and testing & categorization of products are also some of the major challenges identified in the recycled steel industry. The opportunities, which are associated with the market of recycled steel are, sustaining biodiversity and human health, reducing the risk of metal scarcity, value of energy saved in metal production, enhanced landfill mining and waste management, electric arc furnace, recovery of metals, etc.

Trends prevailing in the industry are increasing rates of recycled steel as equated to primary manufacturing and also economic & environmental remunerations of recycling have contributed much to its acceptance. Governments of developing nations are taking efforts to reduce carbon footprint and rising resource efficiency. Regulations and laws in Japan, such as, promotion of efficient utilization of resources, automobile recycling law and container & packaging recycling law have prepared the companies to make it mandatory to promote the scrap metal recycling and also reduce landfill disposal and increase energy savings.

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Recycled Steel Market: Segmentation

By End Use Industry: Building & Construction, Packaging, Automotive, Industrial Machinery, Electronics & Electrical Equipment, Shipbuilding, Others. By Source of Material: Beams, Machines and equipment, Cans and containers, Longstanding furnishings/appliances.

Recycled Steel Market: Regional Outlook

Asia-Pacific region is expected to exhibit a relatively high growth rate, followed by Europe and North America in the global recycled steel market, owing to the high scrap imports in China, followed by India and Japan. Increase in demand for recycled steel is expected from Middle East and Africa during the forecast period. However, the market of recycled steel in Latin America is untapped because of limited availability.

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Recycled Steel Market: Market Participants

Examples of some of the market participants in the Global Recycled Steel Market identified across the value chain include ArcelorMittal S.A., Gerdau group, Metalico Inc., Maanshan Iron & Steel Company Limited, Baosteel Resources Co. Ltd., Nucor.

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