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Report Overview
The global ferrous scrap recycling market size was approximately USD 70.40 Billion in 2024. The market is assessed to grow at a CAGR of 7.40% between 2025 and 2034, reaching a value of USD 143.75 Billion by 2034.
2024
Base Year
2018-2024
Historical Period
2025-2034
Forecast Period
Compound Annual Growth Rate
Value in USD Billion
7.4%
2025-2034
Ferrous Scrap Recycling Market Outlook
*this image is indicative*
| Global Ferrous Scrap Recycling Market Report Summary | Description | Value |
| Base Year | USD Billion | 2024 |
| Historical Period | USD Billion | 2018-2024 |
| Forecast Period | USD Billion | 2025-2034 |
| Market Size 2024 | USD Billion | 70.40 |
| Market Size 2034 | USD Billion | 143.75 |
| CAGR 2018-2024 | Percentage | XX% |
| CAGR 2025-2034 | Percentage | 7.40% |
| CAGR 2025-2034 - Market by Region | Asia Pacific | 8.5% |
| CAGR 2025-2034 - Market by Country | India | 9.8% |
| CAGR 2025-2034 - Market by Country | China | 8.2% |
| CAGR 2025-2034 - Market by Type | Heavy Melting Steel | 8.3% |
| CAGR 2025-2034 - Market by End Use | Construction | 8.4% |
| Market Share by Country 2024 | UK | 3.4% |
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.
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USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Market Segmentation
Breakup by Type:
- Heavy Melting Steel
- Old Car Bodies
- Cast Iron
- Pressing Steel
- Others
Breakup by End Use:
- Construction
- Automotive
- Shipbuilding
- Equipment Manufacturing
- Consumer Appliances
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
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.
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.
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.
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.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
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.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the market reached an approximate value of USD 70.40 Billion.
The market is estimated to grow at a CAGR of 7.40% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach a value of around USD 143.75 Billion by 2034.
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.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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