Product ID: UCMIG15M2007
Report ID:
UCMIG15M2007 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global ferrous scrap recycling market, which was valued at USD 138.3 million in 2021, is projected to witness a steady growth trajectory with a compound annual growth rate (CAGR) of 3.8% from 2022 to 2030. This growth can be attributed to the increasing demand for recycled ferrous scrap across various industries, including automotive, construction, and manufacturing. The rise in environmental concerns and stringent regulations promoting sustainable practices are driving the adoption of ferrous scrap recycling worldwide. Additionally, the cost-effectiveness and energy savings associated with recycling ferrous scrap further contribute to the market expansion.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Precious Metals & Minerals by segment aggregation, the contribution of the Precious Metals & Minerals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG15M2007