Global Steel Waste Management Market Size Is Expected To Hold a Significant Share By 2033
Category: Chemicals & MaterialsGlobal Steel Waste Management Market Size Is Expected To Hold a Significant Share By 2033.
According to a research report published by Spherical Insights & Consulting, the Global Steel Waste Management Market Size is Expected to Hold a Significant Share by 2033, at a Substantial CAGR from 2023 to 2033.
Get more details on this report -
Browse key industry insights spread across 246 pages with 108 Market data tables and figures & charts from the report on the"Global Steel Waste Management Market Size, Share, and COVID-19 Impact Analysis, By Waste Type (Non-Ferrous Scrap, Ferrous Scrap, and Others), By Source (Industrial Scrap, End-of-Life Products, and Others), By End-Use Industry (Automotive, Manufacturing, Construction, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/steel-waste-management-market
The global market for steel waste management encompasses the entire process of managing scrap steel, including collection, sorting, processing, and recycling. The steel waste management market is being driven by demand factors such as the need for recycled steel, strict environmental legislation, and an increasing awareness of sustainability in the steel industry. Furthermore, the increasing demand for recycled steel in the construction, automotive, and infrastructure industries creates an opportunity for scrap recycling. Additionally, rising steel consumption and trash output in rising economies, particularly with increased urbanization and industry, create a need for recycling infrastructure. Furthermore, in April 2024, Wall Recycling, LLC, a prominent waste and recycling solutions provider, announced the sale of its scrap metal recycling business to Foss Recycling. The deal allows Wall Recycling to strategically focus on its core integrated garbage activities. Stringent environmental restrictions are prompting the industry to embrace sustainable waste management techniques. Processing technologies, such as automated sorting and resource recovery systems, enhance efficiency and scalability. However, smaller businesses cannot afford to make large investments in recycling plants and advanced steel waste processing technologies. The complexities stem from mixed steel waste contaminated with impurities.
The ferrous scrap segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the waste type, the steel waste management market is divided into non-ferrous scrap, ferrous scrap, and others. Among these, the ferrous scrap segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The increasing demand for sustainability and acceptance of circular economy principles strengthen ferrous scrap's position in the steel waste management market.
The industrial scrap segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the source, the steel waste management market is divided into industrial scrap, end-of-life products, and others. Among these, the industrial scrap segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. Steel waste management is critical for industrial scrap because it ensures efficient recycling, reduces environmental impact, and lowers manufacturing costs. Industrial scrap can be recycled several times without losing quality, making it a valuable raw material for new steel production.
The automotive segment accounted for the majority of the share in 2023 and is estimated to grow at the fastest CAGR during the projected timeframe.
Based on the end-use industry, the steel waste management market is divided into automotive, manufacturing, construction, and others. Among these, the automotive segment accounted for the majority of the shares in 2023 and is estimated to grow at the fastest CAGR during the projected timeframe. The large amount of steel used in vehicle production, as well as the significant amount of scrap produced during manufacturing and at the end of life stages. Because automobiles are primarily made of steel, large amounts of scrap are recovered and recycled when they are removed.
Asia-Pacific is estimated to hold the largest share of the steel waste management market over the forecast period.
Get more details on this report -
Asia-Pacific is estimated to hold the largest share of the steel waste management market over the forecast period. The world's largest steel producers, such as China, India, and Japan, are located in this region. These states generate a significant amount of steel waste from industries such as construction, automotive, and manufacturing. All of this is aided by a strong recycling infrastructure, supportive government regulations for sustainable practices, and rapid industrialization in many emerging markets.
Middle East and Africa is predicted to have the fastest CAGR growth in the steel waste management market over the forecast period. This growth is attributed to a variety of factors, with rapid industrialization and urbanization at the forefront, as well as investment in infrastructure and manufacturing plants in key countries such as Saudi Arabia, the UAE, and South Africa. The emphasis placed by these countries on sustainability and green technologies drives up demand for efficient steel recycling and waste management products.
Major key players in the steel waste management market include ArcelorMittal, Nucor Corporation, Schnitzer Steel Industries, Inc., Steel Dynamics, Inc., Tata Steel, ThyssenKrupp AG, Commercial Metals Company (CMC), Sims Metal Management, JSW Steel, POSCO, Metso Outotec, Novelis Inc., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the steel waste management market based on the below-mentioned segments:
Global Steel Waste Management Market, By Waste Type
- Non-Ferrous Scrap
- Ferrous Scrap
- Others
Global Steel Waste Management Market, By Source
- Industrial Scrap
- End-of-Life Products
- Others
Global Steel Waste Management Market, By End-Use Industry
- Automotive
- Manufacturing
- Construction
- Others
Global Steel Waste Management Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?