Steel Recycling Market size is estimated to be USD 90 Billion in 2024 and is expected to reach USD 150 Billion by 2033 at a CAGR of 6.5% from 2026 to 2033.
The global steel recycling market was valued at approximately USD 130 billion in 2022 and is expected to grow at a CAGR of 5.2% from 2023 to 2030. The markets growth is driven by the increasing demand for steel across various industries, including construction, automotive, and manufacturing, combined with the rising awareness of environmental sustainability. Steel recycling significantly reduces the environmental impact of steel production, contributing to the overall market expansion. The demand for recycled steel is also boosted by its cost effectiveness and the need for raw materials in steelmaking processes.
Regionally, North America and Europe hold substantial shares in the global steel recycling market, with North America accounting for about 30% of the global market value. The U.S. and Canada are major contributors to this share due to their advanced recycling technologies and stringent environmental regulations. Europe, led by Germany and the U.K., is another key region, with robust steel recycling infrastructures and policies supporting circular economies. Asia Pacific is expected to exhibit the highest growth rate, particularly in countries like China and India, due to rapid industrialization, infrastructure development, and increasing demand for recycled steel. The steel recycling market in the Asia Pacific region is projected to grow at a CAGR of 6.5% from 2023 to 2030, reflecting the regions growing adoption of recycling technologies and eco friendly practices.
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Schnitzer
Kuusakoski
Sims Metal Management
OmniSource
TSR Recycling
Aurubis
Hindalco
Matalco
SA Recycling
American Iron & Metal Co (AIM)
Hugo Neu Corp
Ferrous Processing & Trading Co. (FTP)
PSC Metals
David J. Joseph Co. (DJJ)
AMG Resources Corp
Commercial Metals Co. (CMC)
Miller Compressing Co
Galamba Metals Group LLC
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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 Steel Recycling Market
Carbon Steel
Stainless Steel
Alloy Steel
Tool Steel
Industrial Scrap
Obsolete Scrap
End-of-Life Vehicles (ELVs)
Construction and Demolition Debris
Shredding and Melting
Direct Recycling Techniques
Pyrometallurgical Recycling
Hydrometallurgical Recycling
Steel Billets
Steel Sheets and Plates
Steel Rebar
Steel Wire
Construction
Automotive
Manufacturing
Shipbuilding
Appliance and Electronics
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 Steel Recycling 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 Steel Recycling Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Steel Recycling Market, By Type
6. Global Steel Recycling Market, By Application
7. Global Steel Recycling Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Steel Recycling Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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