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Global Ferrous Scrap Recycling Market Size, Share, Analysis: By Type: Heavy Melting Steel, Old Car Bodies, Cast Iron, Pressing Steel, Others; By End Use: Construction, Automotive, Shipbuilding, Equipment Manufacturing, Consumer Appliances, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Ferrous Scrap Recycling Market Outlook
The global ferrous scrap recycling market size was approximately USD 70.40 billion in 2023. The market is assessed to grow at a CAGR of 7.4% between 2024 and 2032, reaching a value of USD 134.37 billion by 2032.
Key Trends in the Market
Ferrous scrap recycling refers to the process of sorting, shredding, media separation, shearing, and baling of ferrous products, namely, iron and steel, used in a host of equipment and appliances like refrigerators, cans, vehicles, and many others. Ferrous scrap metal (having iron as its primary constituent) is recycled by melting down items like cans, pipes, and appliances to create new steel products. It helps end user industries save costs and energy, by enabling them to utilise waste materials effectively. Steel made from recycled scrap also helps in reducing carbon emissions. Today numerous industries use recycled steel, including construction, automobile, and packaging to cut costs and improve performance.
- Many developed countries are transitioning towards a circular economy system which is based on the values of eliminating waste, reusing products and materials, and reducing pollution. Products made from ferrous scrap recycling are used across a diverse range of sectors, including construction and automotive, among others, supporting the ferrous scrap recycling market growth. Recycling can help save enough energy and power, for instance, steel made using recycled scrap can help save millions of tonnes of iron ore, coal, limestone, and oil, among other valuable resources.
- Companies are expected to increase their adoption of advanced recycling technologies over the forecast period to enhance resource composition and quality of iron and steel, so that increasingly scarce resources can be secured. The adoption of sustainable practices by businesses helps them attract government funding, aiding the market expansion.
- Industries looking to source high quality secondary raw materials are turning to ferrous scrap recycling companies to avoid investing in processing of virgin materials. This indicates that companies engaged in scrap metal recycling are booking permanent positions in the supply chain of the original producer of the material, favouring the ferrous scrap recycling market demand.
Market Segmentation
Based on type, the market is segregated into heavy melting steel, old car bodies, cast iron, and pressing steel, among others. The ferrous scrap recycling market segmentation, based on end use, includes construction, automotive, shipbuilding, equipment manufacturing, and consumer appliances, among others. The major regional markets for ferrous scrap recycling include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global ferrous scrap recycling market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Sims Ltd.
- European Metal Recycling Ltd.
- OmniSource, LLC
- SA Recycling LLC
- Barna Steel S.A. (CELSA Group)
- Jansen Recycling Group BV
- Schnitzer Steel Industries, Inc. (Radius Recycling)
- REMONDIS SE & Co. KG (TSR Recycling GmbH & Co. KG)
- American Iron & Metal Company Inc.
- Donald Ward Ltd.
- Others
Market Share by End-Use
The automotive sector is one of the biggest end-users of recycled steel produced from scrap instead of iron ore. Steel scrap is necessary in the production of new steel and is used in components that enhance a car’s safety features and performance levels. Along with this, the demand for ferrous scrap is also expected to increase in shipbuilding sector.
As per the ferrous scrap recycling market analysis, retrofitting is expected to be the next big phase in the construction sector. This will require major construction companies to make use of recycled steel so that smart housing solutions can be created to adapt to the needs of the growing population. Most of the materials that will be needed to construct buildings in 2050 can be derived from 80% of the existing structures in urban cities, thereby emphasising the need for using recycled steel in modern buildings.
Market Share by Region
North America accounts for a significant ferrous scrap recycling market share due to the huge demand of its recycled steel internationally, which has favoured the establishment of recycling infrastructure on a large scale. The US recycles 71% of its steel to ensure its energy and economic security, while Canada recycles more than 66% of its steel to support its manufacturing industries and support livelihoods. This has led to a thriving ferrous scrap recycling market in the region, which is expected to remain robust in the forecast period.
Meanwhile, the market in the Asia Pacific is witnessing significant growth owing to the evolving regulatory landscape and increasing emphasis on waste reduction, creating opportunities for companies to fill in the gap and offer improved recycling capabilities. The market expansion is further supported by the introduction of favourable government policies and legislations in countries like China.
Competitive Landscape
Sims Ltd. was founded in 1917 and is headquartered in Australia. It is a global leader in metal recycling and provides circular solutions for technology and renewable energy. It operates through its three different business divisions, which includes lifecycle services, metal, and resource renewal. It is present in more than 14 countries worldwide and has more than 260 facilities across the world.
European Metal Recycling Ltd. was founded in 1994 and is headquartered in Warrington, United Kingdom. They source scrap metal from various sources and recycle it by relying on environmentally friendly practices, which contributes to sustainable resource management. They have a global presence and rank as one of the topmost metal manufacturers in the world.
OmniSource, LLC, was founded in 1943 in Indiana, United States. It is one of North America’s largest processors, distributors, and managers of scrap and secondary metals. Its primary collection and processing facilities are concentrated in the Midwest, the South, and the Mid-Atlantic regions of the United States. Its national brokerage and trading operation provides market information to both buyers and sellers which helps them in optimising transaction value.
Other ferrous scrap recycling market players include SA Recycling LLC, Barna Steel S.A. (CELSA Group), Jansen Recycling Group BV, Schnitzer Steel Industries, Inc. (Radius Recycling), REMONDIS SE & Co. KG (TSR Recycling GmbH & Co. KG), American Iron & Metal Company Inc., and Donald Ward Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End Use |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Ferrous Scrap Recycling Market Analysis
8.1 Key Industry Highlights
8.2 Global Ferrous Scrap Recycling Historical Market (2018-2023)
8.3 Global Ferrous Scrap Recycling Market Forecast (2024-2032)
8.4 Global Ferrous Scrap Recycling Market by Type
8.4.1 Heavy Melting Steel
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Old Car Bodies
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Cast Iron
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Pressing Steel
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Ferrous Scrap Recycling Market by End Use
8.5.1 Construction
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Automotive
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Shipbuilding
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Equipment Manufacturing
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Consumer Appliances
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Ferrous Scrap Recycling Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Ferrous Scrap Recycling Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Ferrous Scrap Recycling Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Ferrous Scrap Recycling Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Ferrous Scrap Recycling Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Ferrous Scrap Recycling Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Sims Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 European Metal Recycling Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 OmniSource, LLC
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 SA Recycling LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Barna Steel S.A. (CELSA Group)
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Jansen Recycling Group BV
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Schnitzer Steel Industries, Inc. (Radius Recycling)
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 REMONDIS SE & Co. KG (TSR Recycling GmbH & Co. KG)
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 American Iron & Metal Company Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Donald Ward Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Ferrous Scrap Recycling Market: Key Industry Highlights, 2018 and 2032
2. Global Ferrous Scrap Recycling Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Ferrous Scrap Recycling Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Ferrous Scrap Recycling Historical Market: Breakup by End Use (USD Billion), 2018-2023
5. Global Ferrous Scrap Recycling Market Forecast: Breakup by End Use (USD Billion), 2024-2032
6. Global Ferrous Scrap Recycling Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Ferrous Scrap Recycling Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Ferrous Scrap Recycling Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Ferrous Scrap Recycling Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Ferrous Scrap Recycling Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Ferrous Scrap Recycling Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Ferrous Scrap Recycling Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Ferrous Scrap Recycling Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Ferrous Scrap Recycling Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Ferrous Scrap Recycling Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Ferrous Scrap Recycling Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Ferrous Scrap Recycling Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Ferrous Scrap Recycling Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 70.40 billion.
The market is estimated to grow at a CAGR of 7.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 134.37 billion by 2032.
The market is being driven by the increasing focus on lowering the reliance on finite sources and reducing the wastage of iron and steel, the rising concerns about climate change, and the adoption of proper waste management practices around the globe.
The key trends aiding the market expansion include the rise of circular economy systems, anticipated increase in advanced recycling technologies, and the increasing importance and applications of recycled steel in diverse industries.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major end users of ferrous scrap recycling are construction, automotive, shipbuilding, equipment manufacturing, and consumer appliances, among others.
The key players in the market are Sims Ltd., European Metal Recycling Ltd., OmniSource, LLC, SA Recycling LLC, Barna Steel S.A. (CELSA Group), Jansen Recycling Group BV, Schnitzer Steel Industries, Inc. (Radius Recycling), REMONDIS SE & Co. KG (TSR Recycling GmbH & Co. KG), American Iron & Metal Company Inc., and Donald Ward Ltd., among others.
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