Ferrous scrap contains iron and steel used in various consumer products such as automobiles, household appliances, industrial structures, and equipment. Ferrous scrap recycling is recovering iron and steel from effects that have reached the end of the product life cycle. Ferrous scrap, which is recovered, is then introduced as a raw material in producing new goods. Recycling minimizes rare earth metal mining activities, besides reducing waste and saving energy.
MARKET DYNAMICS
The global ferrous scrap market is primarily driven by the growing requirement for ferrous scrap in various industries including, automotive and construction, due to the economic and environmental benefits, which aids in minimizing the consumption of raw material and energy, and pollution. A further rise in demand for steel and industrialization and urbanization in developing nations will surge its market growth in the near future. Further, growing concerns towards the depletion of non-renewable resources at a fast rate has led governments of several countries to make favorable laws regarding the ferrous scrap recycling industry, which is further boosting the ferrous scrap recycling market. Additionally, rising environmental concerns, overutilization of non-renewable resources, carbon dioxide emissions, and high energy usage in the primary production of metals have augmented secondary production growth.
MARKET SCOPE
The "Global Ferrous Scrap Recycling Market Analysis to 2028" is a specialized and in-depth study of the chemical and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the ferrous scrap recycling market with detailed market segmentation by type, application, and geography. The global ferrous scrap recycling market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading ferrous scrap recycling market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global ferrous scrap recycling market is segmented on the basis of type, and application. On the basis of type the global ferrous scrap recycling market is segmented into heavy melting steel, old car bodies, cast iron, pressing steel, and manganese steel. Based on application the global ferrous scrap recycling market is segmented into building and construction, automotive, electricals and electronics, industrial machinery, and others.
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 ferrous scrap recycling market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The ferrous scrap recycling 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 ferrous scrap recycling market from both demand and supply side and further evaluates market dynamics affecting the market during 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 ferrous scrap recycling market in these regions.
MARKET PLAYERS
The reports cover key developments in the ferrous scrap recycling 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 market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from ferrous scrap recycling market are anticipated to lucrative growth opportunities in the future with the rising demand for ferrous scrap recycling in the global market. Below mentioned is the list of few companies engaged in the ferrous scrap recycling market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the ferrous scrap recycling 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.
Sims Metal Management Inc.
OmniSource Corp.
Ward Recycling
American Iron & Metal Co. Inc.
SA Recycling
Schuy Recycling
Innovative Metal Recycling
TSR Recycling GmbH & Co. KG
Ferrous Processing & Trading Co. (FTP)
Schnitzer Steel Products
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