The research study conducted by Report Ocean on the “ Ferrous Scrap Recycling Market ” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Global Ferrous Scrap Recycling Market is valued at approximately USD 138.3 million in 2021 and is anticipated to grow with a healthy growth rate of more than 3.8% over the forecast period 2022-2029. Ferrous scrap is a type of scrap metal that contains some quantity of iron. ferrous scrap recycling refers to a technique for recycling scrap metal by removing metals from items that are nearing or at the end of the product life cycle. Also, these are used as raw materials to create new products. The process involves several processes, including gathering scrap metal from yards, collecting the metals and putting them through a radiation detector, shearing, shredding, separating ferrous elements first using media separation, and baling. Factors such as rising emphasis on reducing carbon emission, the surge in demand for recycled steel, and increasing awareness programs for sustainable waste management are the major prominent factors that are acting as catalyzing factors for the market demand around the world.
Request To Download Free Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=bw6993
In addition, the market expansion is anticipated to be driven by the imposition of effective government initiatives to reduce carbon emissions. For instance, in October 2021, the U.S. and EU announced the first sectoral agreement based on emissions for steel and aluminium by 2024. Under this agreement, both countries are working together to limit access to countries that dump steel in both markets and to impose restrictions on the import of dirty steel. By increasing steel output through EAF, this project is anticipated to have a favorable impact on the ferrous scrap recycling market. Moreover, various emerging prospects in underdeveloped and developing countries, as well as growing environmental concerns are presenting various lucrative opportunities over the forecasting years. However, the stringent regulations and unorganized collection of metal waste in developing countries are challenging the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Ferrous Scrap Recycling Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the increasing development of the recycling industry, along with the rising government initiatives and implementation of several policies. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the various automotive companies investing in setting up recycling centres, as well as growing preference towards electric arc furnaces (EAF) in the market space.
Major market players included in this report are:
American Iron & Metal Company Inc.
European Metal Recycling Ltd.
Innovative Metal Recycling GmbH
OmniSource, LLC
Sims Limited
SA Recycling LLC
Schnitzer Steel Industries, Inc.
Rudolf Schuy GmbH & Co. KG
TSR Recycling GmbH & Co. KG
Ward Recycling Ltd, Inc.
Recent Developments in the Market:
In August 2020, Tata Steel’s recycling division introduced the FerroHatt smartphone app to help customers find ferrous trash from dealers. With the introduction of this new mobile application, the company has made a significant step toward organizing the ferrous scrap market in India and providing the steel industry with a reliable source of scrap metals.
Global Ferrous Scrap Recycling Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Sector, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below.
By Sector:
Construction
Automotive
Consumer Goods
Industrial Goods
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
Request full Report
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.