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    Ferrous Scrap Recycling Market Size Worth $111.9 Million By 2027  139  0 Kommentare Grand View Research, Inc.

    SAN FRANCISCO, Aug. 10, 2020 /PRNewswire/ -- The global ferrous scrap recycling market size is anticipated to reach USD 111.9 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 1.7% from 2020 to 2027. Increasing secondary metal production is anticipated to augment market growth.

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    Crude steel is produced through basic oxygen converter and electric arc furnace (EAF), where the former follows the conventional method of production that includes raw materials, such as iron ore, metallurgical coal, limestone, and very less amount of scrap. However, in the EAF, scrap is the key raw material along with less energy consumption. According to the World Steel Association, crude steel production through the EAF process increased by 10.1% from 2017 to 2018. Growing steel production through the EAF process is a key driving factor for the market.

    Key suggestions from the report:

    • Asia Pacific anticipated registering the highest growth rate of 2.6%, in terms of revenue, across the forecast period, owing to increasing developments in scrap recycling in developing economies, like India
    • Europe held the largest volume share of 42.5% in 2019 owing to rapid development in the recycling industry of the region
    • The construction sector held the largest revenue share of more than 46.0% in 2019 due to increasing consumption of ferrous materials, such as steel, in the industry owing to its phenomenal properties
    • The consumer goods sector is anticipated to register the fastest growth rate of 2.1% in terms of revenue, during the forecast period, owing to rapid production of electronics and their short lifespan
    • The market is hit by the covid-19 pandemic, which can be indicated with low demand and declining prices of scrap because of restricted manufacturing and transportation across the globe as of 2020.

    Read 120 page research report with ToC on "Ferrous Scrap Recycling Market Size, Share & Trends Analysis Report By Sector (Construction, Automotive, Consumer Goods, Industrial Goods), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/ferrous-scrap-recycling-market

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    Ferrous Scrap Recycling Market Size Worth $111.9 Million By 2027 Grand View Research, Inc. SAN FRANCISCO, Aug. 10, 2020 /PRNewswire/ - The global ferrous scrap recycling market size is anticipated to reach USD 111.9 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 1.7% from 2020 to 2027. …

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