Steel Scrap: A Global Strategic Business Report
San Jose, California (PRWEB) June 05, 2013
Follow us on LinkedIn –Steel scrap forms the most important raw material in the manufacture of steel. Household goods and old cars account for about 80-85% of scrap sourced worldwide. Developed countries such as the US, Europe, Japan and Canada are the major exporting countries while emerging markets such as China, Turkey and India are the major importing countries. As majority of scrap steel is used in the production of new steel, trends and developments in the steel industry significantly influence demand dynamics in the steel scrap market. Global warming is one of the most important issues currently faced by the global steel industry. Recycling of scrap significantly reduces CO2 emissions resulting in rising usage of recycled steel in the manufacturing of goods thus driving demand for steel scrap.
Since scrap metal is traded globally, economic conditions tend to significantly influence demand patterns and pricing trends. Despite the steel scrap market staging a comeback in 2010 after facing a challenging year in 2009, economic uncertainties in developed markets, particularly the US and Europe, continue to challenge growth prospects in the short to medium term. Additionally, China, the largest consumer of steel in the world, is registering decline in imports of steel scrap over the past few years. Despite the immediate challenges relating to the fiscal cliff, the euro zone crisis, and the decline in Chinese scrap imports, future growth is forecast to be healthy supported by the positive outlook for steel demand. Global steel production is expected to increase by nearly 45% through 2020 translating into significant opportunities for scrap steel. Rising demand for raw materials used in steel manufacturing is expected to fuel demand in the next few years. Also, increasing demand for steel from developing countries of China, India, Egypt, Turkey and Taiwan that are witnessing massive infrastructural and industrial development activities is expected to bode well for the steel scrap market.
Steel scrap is primarily used in electric arc furnaces (EAFs) that are fast replacing traditional blast furnaces in steel manufacturing units around the world owing to benefits such as lower Greenhouse gas emissions and higher energy efficiency. In coming years, increased usage of electric arc furnaces in steel manufacturing facilities will significantly drive demand for steel scrap.
As stated by the new market research report on Steel Scrap, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a projected CAGR of 7.3% over the analysis period. Despite demand for steel in two of the most important steel consuming countries of China and India growing at a relatively slower rate in 2012, implementation of robust infrastructure projects is expected to strengthen growth prospects in the next few years. The US represents the largest supplier of scrap globally. Major markets for the US steel scrap exports include Turkey, China, India, Taiwan and South Korea.
Key players covered in the report include ArcelorMittal S.A., Baosteel Resources Co., Ltd., Commercial Metals Company, Gerdau Ameristeel Corporation, Jiangyin Xingcheng Special Steel Works Co. Ltd., Maanshan Iron & Steel Company Limited, Metalico Inc., Nucor Corporation, Oryx Stainless Group, Schnitzer Steel Industries Inc., Sims Metal Management Limited, and Steel Dynamics Inc., among others.
The research report titled “Steel Scrap: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive analysis of the global steel scrap market including key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report also provides market estimates and projections in million tons across all major geographic markets including the United States, Canada, Europe (France, Germany, Italy, UK, Spain, Russia, Turkey and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle-East and Latin-America (Brazil and Rest of Latin-America).
For more details about this comprehensive market research report, please visit –
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Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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