Steel scrap market: APAC is estimated to contribute 66% to the growth of the global market during the forecast period- Technavio

NEW YORK, Dec. 5, 2022 /PRNewswire/ -- The steel scrap market size is forecasted to grow by 62.78 million tons at a CAGR of 1.62% between 2022 and 2027. APAC is forecast to contribute 66% to the growth of the global steel scrap market during the forecast period. The market in the region is estimated to grow at the fastest pace during the forecast period. The growing prevalence of steel manufacturing using low carbon-intensive processes will facilitate the steel scrap market growth in APAC over the forecast period.

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Steel scrap market: Segmentation analysis

Technavio has segmented the steel scrap market by end-user (construction, automotive, consumer goods, and industrial goods), source (obsolete steel scrap, prompt steel scrap, and home steel scrap), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The report provides actionable insights and estimates the contribution of all segments to the growth of the global steel scrap market.

• The construction segment will hold the largest share of the market's growth during the forecast period. Steel is extensively used in the construction industry owing to its high strength and ductility. The demand for steel is driven by the construction of high-rise buildings, tech parks, roads, highways, and bridges. It is typically used in manufacturing beams for structural frameworks, rectangular tubing for welded frames, and high-strength plates for highways and bridges. It is also used for manufacturing rebars and hollow structural sections.

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Key factors driving market growth

• The increasing applications for steel scrap are driving the global steel scrap market growth.
• The use of scrapped steel is increasing due to the need to reduce the global carbon footprint. The recycling of steel scrap lowers the environmental impact by reducing the need for iron ore extraction.
• Steel scrap has become a preferred raw material for steel producers. Iron ore and steel or steel scrap can be used alone or in combination with other raw materials.
• Manufacturers use steel scrap as the major raw material to reduce their overall cost of production due to an increase in electricity and energy costs.
• Thus, the increasing applications of steel scrap will drive the growth of the market during the forecast period.

Leading trends influencing the market

• The increase in M&A activities is a key trend in the global steel scrap market.
• The leading vendors are adopting leading strategies to gain competitive advantages in the market.
• For instance, in September 2022, Commercial Metals Co. acquired Advanced Steel Recovery, LLC (ASR) as part of its strategic expansion in Western US. Similarly, in March 2022, ArcelorMittal acquired John Lawrie Metals Ltd., a Scottish recycling business.
• Thus, the increasing M&A activities will support the growth of the market during the forecast period

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Competitive analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Buy the report

What are the key data covered in this steel scrap market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the steel scrap market between 2022 and 2027
• Precise estimation of the size of the steel scrap market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the steel scrap market industry across APAC, North America, Europe, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of steel scrap market vendors

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Table of Content

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Source
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (million t)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (million t)
• Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global steel scrap market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global steel scrap market 2017 - 2021 (million t)

• 4.2 Geography Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 (million t)

• 4.3 Source Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Source Segment 2017 - 2021 (million t)

• 4.4 End-user Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – End-user Segment 2017 - 2021 (million t)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (million t)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Construction - Market size and forecast 2022-2027
• Exhibit 34: Chart on Construction - Market size and forecast 2022-2027 (million t)
• Exhibit 35: Data Table on Construction - Market size and forecast 2022-2027 (million t)
• Exhibit 36: Chart on Construction - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Construction - Year-over-year growth 2022-2027 (%)

• 6.4 Automotive - Market size and forecast 2022-2027
• Exhibit 38: Chart on Automotive - Market size and forecast 2022-2027 (million t)
• Exhibit 39: Data Table on Automotive - Market size and forecast 2022-2027 (million t)
• Exhibit 40: Chart on Automotive - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Automotive - Year-over-year growth 2022-2027 (%)

• 6.5 Consumer goods - Market size and forecast 2022-2027
• Exhibit 42: Chart on Consumer goods - Market size and forecast 2022-2027 (million t)
• Exhibit 43: Data Table on Consumer goods - Market size and forecast 2022-2027 (million t)
• Exhibit 44: Chart on Consumer goods - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Consumer goods - Year-over-year growth 2022-2027 (%)

• 6.6 Industrial goods - Market size and forecast 2022-2027
• Exhibit 46: Chart on Industrial goods - Market size and forecast 2022-2027 (million t)
• Exhibit 47: Data Table on Industrial goods - Market size and forecast 2022-2027 (million t)
• Exhibit 48: Chart on Industrial goods - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Industrial goods - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by End-user 
• Exhibit 50: Market opportunity by End-user (million t)

7 Market Segmentation by Source

• 7.1 Market segments 
• Exhibit 51: Chart on Source - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Source - Market share 2022-2027 (%)

• 7.2 Comparison by Source 
• Exhibit 53: Chart on Comparison by Source
• Exhibit 54: Data Table on Comparison by Source

• 7.3 Obsolete steel scrap - Market size and forecast 2022-2027
• Exhibit 55: Chart on Obsolete steel scrap - Market size and forecast 2022-2027 (million t)
• Exhibit 56: Data Table on Obsolete steel scrap - Market size and forecast 2022-2027 (million t)
• Exhibit 57: Chart on Obsolete steel scrap - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Obsolete steel scrap - Year-over-year growth 2022-2027 (%)

• 7.4 Prompt steel scrap - Market size and forecast 2022-2027
• Exhibit 59: Chart on Prompt steel scrap - Market size and forecast 2022-2027 (million t)
• Exhibit 60: Data Table on Prompt steel scrap - Market size and forecast 2022-2027 (million t)
• Exhibit 61: Chart on Prompt steel scrap - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Prompt steel scrap - Year-over-year growth 2022-2027 (%)

• 7.5 Home steel scrap - Market size and forecast 2022-2027
• Exhibit 63: Chart on Home steel scrap - Market size and forecast 2022-2027 (million t)
• Exhibit 64: Data Table on Home steel scrap - Market size and forecast 2022-2027 (million t)
• Exhibit 65: Chart on Home steel scrap - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Home steel scrap - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Source 
• Exhibit 67: Market opportunity by Source (million t)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 (million t)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 (million t)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 (million t)
• Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 (million t)
• Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 81: Chart on North America - Market size and forecast 2022-2027 (million t)
• Exhibit 82: Data Table on North America - Market size and forecast 2022-2027 (million t)
• Exhibit 83: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 (million t)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 (million t)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 (million t)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (million t)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 (million t)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 (million t)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 97: Chart on US - Market size and forecast 2022-2027 (million t)
• Exhibit 98: Data Table on US - Market size and forecast 2022-2027 (million t)
• Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 India - Market size and forecast 2022-2027
• Exhibit 101: Chart on India - Market size and forecast 2022-2027 (million t)
• Exhibit 102: Data Table on India - Market size and forecast 2022-2027 (million t)
• Exhibit 103: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 (million t)
• Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 (million t)
• Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 Russia - Market size and forecast 2022-2027
• Exhibit 109: Chart on Russia - Market size and forecast 2022-2027 (million t)
• Exhibit 110: Data Table on Russia - Market size and forecast 2022-2027 (million t)
• Exhibit 111: Chart on Russia - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Russia - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography (million t)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Ansteel Group Corp. Ltd. 
• Exhibit 120: Ansteel Group Corp. Ltd. - Overview
• Exhibit 121: Ansteel Group Corp. Ltd. - Product / Service
• Exhibit 122: Ansteel Group Corp. Ltd. - Key offerings

• 12.4 ArcelorMittal SA 
• Exhibit 123: ArcelorMittal SA - Overview
• Exhibit 124: ArcelorMittal SA - Business segments
• Exhibit 125: ArcelorMittal SA - Key offerings
• Exhibit 126: ArcelorMittal SA - Segment focus

• 12.5 Baosteel Group Corp. 
• Exhibit 127: Baosteel Group Corp. - Overview
• Exhibit 128: Baosteel Group Corp. - Product / Service
• Exhibit 129: Baosteel Group Corp. - Key offerings

• 12.6 China Baowu Steel Group Corp. 
• Exhibit 130: China Baowu Steel Group Corp. - Overview
• Exhibit 131: China Baowu Steel Group Corp. - Product / Service
• Exhibit 132: China Baowu Steel Group Corp. - Key offerings

• 12.7 Commercial Metals Co. 
• Exhibit 133: Commercial Metals Co. - Overview
• Exhibit 134: Commercial Metals Co. - Business segments
• Exhibit 135: Commercial Metals Co. - Key offerings
• Exhibit 136: Commercial Metals Co. - Segment focus

• 12.8 EVRAZ Plc 
• Exhibit 137: EVRAZ Plc - Overview
• Exhibit 138: EVRAZ Plc - Business segments
• Exhibit 139: EVRAZ Plc - Key offerings
• Exhibit 140: EVRAZ Plc - Segment focus

• 12.9 Gerdau SA 
• Exhibit 141: Gerdau SA - Overview
• Exhibit 142: Gerdau SA - Business segments
• Exhibit 143: Gerdau SA - Key offerings
• Exhibit 144: Gerdau SA - Segment focus

• 12.10 Metalico Inc. 
• Exhibit 145: Metalico Inc. - Overview
• Exhibit 146: Metalico Inc. - Product / Service
• Exhibit 147: Metalico Inc. - Key offerings

• 12.11 Nucor Corp. 
• Exhibit 148: Nucor Corp. - Overview
• Exhibit 149: Nucor Corp. - Business segments
• Exhibit 150: Nucor Corp. - Key news
• Exhibit 151: Nucor Corp. - Key offerings
• Exhibit 152: Nucor Corp. - Segment focus

• 12.12 Oryx Stainless AG 
• Exhibit 153: Oryx Stainless AG - Overview
• Exhibit 154: Oryx Stainless AG - Product / Service
• Exhibit 155: Oryx Stainless AG - Key offerings

• 12.13 Schnitzer Steel Industries Inc. 
• Exhibit 156: Schnitzer Steel Industries Inc. - Overview
• Exhibit 157: Schnitzer Steel Industries Inc. - Business segments
• Exhibit 158: Schnitzer Steel Industries Inc. - Key offerings
• Exhibit 159: Schnitzer Steel Industries Inc. - Segment focus

• 12.14 Sims Ltd. 
• Exhibit 160: Sims Ltd. - Overview
• Exhibit 161: Sims Ltd. - Business segments
• Exhibit 162: Sims Ltd. - Key offerings
• Exhibit 163: Sims Ltd. - Segment focus

• 12.15 Steel Dynamics Inc. 
• Exhibit 164: Steel Dynamics Inc. - Overview
• Exhibit 165: Steel Dynamics Inc. - Business segments
• Exhibit 166: Steel Dynamics Inc. - Key offerings
• Exhibit 167: Steel Dynamics Inc. - Segment focus

• 12.16 Tata Steel Ltd. 
• Exhibit 168: Tata Steel Ltd. - Overview
• Exhibit 169: Tata Steel Ltd. - Business segments
• Exhibit 170: Tata Steel Ltd. - Key news
• Exhibit 171: Tata Steel Ltd. - Key offerings
• Exhibit 172: Tata Steel Ltd. - Segment focus

• 12.17 United States Steel Corp. 
• Exhibit 173: United States Steel Corp. - Overview
• Exhibit 174: United States Steel Corp. - Business segments
• Exhibit 175: United States Steel Corp. - Key news
• Exhibit 176: United States Steel Corp. - Key offerings
• Exhibit 177: United States Steel Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 178: Inclusions checklist
• Exhibit 179: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 180: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 181: Research methodology
• Exhibit 182: Validation techniques employed for market sizing
• Exhibit 183: Information sources

• 13.5 List of abbreviations 
• Exhibit 184: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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