Iron recycling market is anticipated to grow at a CAGR of 7.7% during the forecast period (2023-2030). Iron can be recycled endlessly without losing any of its material properties. Steel is an iron alloy that can be recycled numerous times and used to create goods for a variety of end-user industries. The iron recycling market expanded as a result of the building industry’s quick expansion and the increased need for steel in remodelling and renovation projects. The market is anticipated to rise as urbanization and industrialization both pick up pace. The disorganized movement of scrap metals tends to impede the market’s expansion. By lowering CO2 emissions, scrap recycling in the steel industry is essential for the advancement of green technology. For instance, in March 2022, ArcelorMittal acquired the Scottish steel recycling company John Lawrie Metals Ltd. As part of its plan to utilize more scrap steel and reduce CO2 emissions from the steelmaking process.
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Among the end user, the building and construction sub-segment is expected to hold a considerable share of the global iron recycling market. Iron is commonly used in a variety of applications in the building and construction sector, including structural steel, reinforcing bars, and other building materials. There is a significant amount of iron trash produced as a result of the frequent refurbishment or demolition of these products. For instance, in October 2021, The Terex Recycling Systems product line is introduced by Terex MP. The Terex Recycling Systems product line will first concentrate on waste applications related to building, demolition, and business and industry. Recycling Systems will help the business’s ambition to diversify its product offerings in the environmental sector by adding new items to its current line-up.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Iron Recycling Market Report Segment
By Type (Ore Concentration, Scrap)
- Automotive
- Industrial Machinery
- Consumer Electronics
- Other (Aerospace and Defense)
By Production Technology
- Basic Oxygen Furnace
- Electric Arc Furnace
- Open Hearth
By End Users
- Building and Construction
- Packaging,
- Electronics & Electrical Equipment
Global Iron Recycling Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global iron recycling market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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