The global iron recycling market is anticipated to grow at a CAGR of 7.7% during the forecast period (2024-2031). The demand for iron and steel is rapidly growing with industrialization and population growth. Recycling iron ore reduces the resilience of virgin ore extraction and conserve the available for future generation. According to the American Iron and Steel Institute (AISI), steel made from iron is the most recycled material on the planet. Growth of the global iron ore market was supported by factors such as increasing production of crude steel, escalating urban population, upsurge in GDP, and accelerating consumer durables industry. By partnering in steel recycling, companies can collectively work toward reducing their carbon footprint and promoting sustainable practices. For instance,
- In April 2023, Johnson Controls launched a closed-loop steel recycling partnership program with Nucor in the US. Nucor will remelt the scrap steel using electric arc furnace (EAF) technology, which generates approximately 75% less emissions than traditional blast furnace manufacturing. Digital platforms can streamline the entire process of iron scrap sourcing, from finding potential to negotiating contracts and arranging logistics.
- In August 2020, Tata Steel launches FerroHaat™ App for sourcing steel scrap. The new App is a major step by the Company to organize India’s scrap market while also providing a reliable source of scrap metal for the Steel Industry. The successful launch of FerroHaat™ underlines Tata Steel’s commitment to fostering trust, transparency, and ease of doing business in the scrap industry.
- In April 2023, Anglo American and H2 Green Steel collaborate on green steelmaking. The alliance will see Anglo-Americans supplying iron ore in South Africa and Brazil to H2 Green Steel. The company’s motive is to bring high-quality iron ore products to customers which focus on low-carbon iron and steelmaking.
- In May 2022, ArcelorMittal acquired several steel scrap recycling facilities from environmental services and recycling company ALBA International Recycling. The deal involves 10 scrap yards located in the south of Germany, across three different companies, ALBA Electronics Recycling, ALBA Metall Süd Rhein-Main and ALBA Metall Süd.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Type (Ore Concentration, Scrap)
- By Production Technology
- By End-User
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- includes ArcelorMittal, Nucor Corp., CMC, European Metal Recycling Ltd., Sims Ltd., and others.
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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
Iron Recycling Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- AMG Resources Corp.
- ArcelorMittal
- Aurubis AG
- Baosteel Group Corp.
- Commercial Metals Co.
- David J. Joseph Co.
- Dowa Holding Co., Ltd.
- European Metal Recycling Ltd.
- Ferrous Processing & Trading Co.
- Omnisource Corp.
- PSC Metals
- Schnitzer Steels Products
- SIMS Metals Managements Ltd.
- Tata Steel Ltd.
- Tube City IMS LLC
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