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Ferrous scrap, or iron and steel scrap, is the most recycled material in the world. It comes from a wide range of consumer products like automobiles and household appliances to industrial structures and equipment like buildings, trains, railroads, and bridges, among others. According to the U.S. Geological Survey, around 65 million metric tons (143 billion pounds) of ferrous scrap was processed around the world in 2016. Moreover, in emerging countries like India and China, electronic waste or e-waste is becoming a serious public health and environmental issue. Thus, the stringent regulatory compliance and the growing focus to design and regulate e-waste recovery regime in such nations are expected to provide enhanced growth opportunities to the market in the forecast period.
Meanwhile, the easy availability of consumer electronics like smartphone, laptops, headphones, television sets, and others through e-commerce platforms like Alibaba Group Holding Ltd (NYSE: BABA) and Amazon.com, Inc. (NASDAQ: AMZN) is resulting in the increased sales of electronic products, which will further create a need for eco-friendly recycling techniques. Currently, only 20% of the global e-waste is recycled due to poor extraction techniques according to the UN report. The growing focus to extract cobalt from e-waste to produce laptop, smartphone, and electric car batteries is expected to enhance the demand for scrap metal shredder in the forecast period.
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The major players in the global market for scrap metal shredder are Granutech-Saturn Systems, Komar Industries, Inc, Forrec srl, Williams Patent Crusher and Pulverizer Co., Inc., SSI Shredding Systems, Inc., and Fornax Technology Pvt Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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