Recycled Steel Market size was valued at USD 500 Billion in 2024 and is forecasted to grow at a CAGR of 4.5% from 2026 to 2033, reaching USD 700 Billion by 2033.
The global recycled steel market was valued at approximately USD 85.6 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030. North America holds a significant share of the market, with the United States contributing a substantial portion due to the growing demand for sustainable construction materials and the increasing awareness about recycling practices. The market in Europe is also experiencing strong growth, driven by stringent government regulations on waste management and the emphasis on reducing carbon emissions. In the Asia Pacific region, the market is anticipated to grow rapidly, primarily due to rising industrial activities and the growing demand for steel products in countries like China and India. The Asia Pacific region accounted for approximately 40% of the global market share in 2022 and is expected to maintain its dominance through 2030.
Latin America and the Middle East & Africa are emerging markets for recycled steel, with opportunities driven by urbanization, infrastructure development, and the increased adoption of recycling technologies. In Latin America, countries such as Brazil are expanding their recycling operations to meet local demand for steel in the construction and automotive sectors. The Middle East is also focusing on the expansion of steel recycling capabilities to meet the growing demand for steel in infrastructure projects, contributing to the regional growth. As the adoption of green building standards rises globally, the recycled steel market is expected to benefit from a shift toward eco friendly materials, creating further opportunities for market expansion across various regions.
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ArcelorMittal
Gerdau
Metalico
Maanshan Iron & Steel
Baosteel Resources
Nucor
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Recycled Steel Market
Hot-Rolled Steel
Cold-Rolled Steel
Stainless Steel
Alloy Steel
Tool Steel
Construction
Automotive
Consumer Goods
Manufacturing
Aerospace
Shredding
Melting
Refining
Shaping
Forming
Post-Consumer Scrap
Post-Industrial Scrap
Obsolete Scrap
Prompt Scrap
Home Scrap
Structural Components
Automotive Parts
Packaging Materials
Appliances
Pipe and Tube Manufacturing
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Recycled Steel Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Recycled Steel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Recycled Steel Market, By Type
6. Global Recycled Steel Market, By Application
7. Global Recycled Steel Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Recycled Steel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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