This statistic shows steel scrap prices worldwide between the 2013 and 2016 calendar years, and gives a forecast through 2021. In 2018, it is expected that the price of steel scrap will come to around *** U.S. dollars per metric ton.

Steel rose to 3,117 CNY/T on December 2, 2025, up 0.23% from the previous day. Over the past month, Steel's price has risen 1.30%, but it is still 7.09% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel - values, historical data, forecasts and news - updated on December of 2025.

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Steel Scrap Market Size 2023-2027

The steel scrap market size is forecast to increase by 62.78 million T, at a CAGR of 1.62% between 2022 and 2027. Market expansion is driven by various factors, notably the rising utilization of steel scrap, the robust demand for steel in industrial sectors, and the growing needs within the construction industry. However, this growth trajectory encounters obstacles such as the intricacies involved in sorting steel scrap and the prevalence of impurities within it. Additionally, the presence of substitute materials poses a threat, while fluctuations in the demand and pricing for stainless steel further add to market uncertainty. Overcoming these challenges necessitates innovative approaches to streamline scrap sorting processes and mitigate impurity concerns. Moreover, strategies to address the threat of substitutes and navigate through market volatility are crucial for sustained growth. By proactively managing these factors, the steel industry can capitalize on opportunities and reinforce its position amidst evolving market dynamics.

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Market Definition

Steel scraps are discarded steel or steel products that are suitable for melting, generally segregated by composition and size or 'grade'. These are recycled and used to make crude steel.

Market Segmentation

End-User Insights

The market share growth by the construction segment will be significant during the forecast period. The construction industry is a major contributor to the growth of the global market. The construction of high-rise buildings, tech parks, roads, highways, and bridges globally drives the demand for steel manufacturing. Owing to its high strength and ductility, steel is extensively used in the construction industry. It is typically used in the manufacturing of beams for structural frameworks, rectangular tubing for welded frames, and high-strength plates for highways and bridges. It is also used in manufacturing rebars and hollow structural sections.

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The construction segment showed a gradual increase in the market share with 291.44 million tons in 2017 and continued to grow by 2021. Moreover, steel is used in handrails, culverts, columns, pilings, fences, caissons, and sign poles. Durability, strength, economical nature, and suitability to long-term exposure to different kinds of weather increase the demand for steel in the construction sector. Moreover, the growing use of steel that is recovered used in construction equipment significantly increases the demand and, in turn, will drive the growth of the market during the forecast period.

Regional Analysis

APAC is estimated to contribute 66% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The regional market is poised for significant growth due to the increasing adoption of carbon steel, particularly using steel scrap. Notable contributions come from India and China. JSW Steel's USD 1.26 billion partnership with Germany's SMS group aims to cut emissions by 42% by 2030 through greater utilization. Key players like Tata Steel are also driving growth in the Asia-Pacific (APAC) region. Tata Steel's Steel Recycling Business introduced FerroHaat, a mobile app, to streamline India's market. In APAC, the demand for steel is rising steadily, driven by industrialization and infrastructure projects in countries like Indonesia, South Korea, and India. Government initiatives, like India's increased imports in H1 2022, will further boost steel and steel scrap demand in the region. Consequently, the growth of steel production from scrap will be a significant driver in the regional market during the forecast period.

Market Dynamics

The steel industry is undergoing a paradigm shift towards sustainability, with a focus on emission-based sectoral arrangements and carbon emissions reduction. Production of steel, whether through blast furnaces or electric arc furnaces (EAF), is increasingly emphasizing energy efficiency and the use of recycled steel. Major players like JSW Steel are investing in sustainable practices to reduce greenhouse gas emissions. Construction projects, including the Twin Towers of Supertech and the development of recycling parks like the one in Binzhou, China, are adopting sustainable materials such as beams, reinforcement bars, and structural parts. Initiatives like the Scholz Joint Venture and the circular economy approach are driving the steel industry towards a sustainable economy, ensuring the longevity of resources and promoting sustainable development for futu

The global sales of recycled scrap metal is estimated at USD 75.5 billion in 2025. Revenue is projected to rise steadily at a CAGR of 7.1% from 2025 to 2035, reaching USD 149.9 billion by the end of the forecast period.

Metric	Value
Industry Size (2025E)	USD 75.5 billion
Industry Value (2035F)	USD 149.9 billion
CAGR (2025 to 2035)	7.1%

Analyzing Recycled Scrap Metal Market by Top Investment Segments

Metal Type	Value Share (2035)
Ferrous Metals	72.5%

Metal Type	Value Share (2035)
Building & Construction	15.6%

Semi-annual Update

Particular	Value CAGR
H1	6.1% (2024 to 2034)
H2	7.5% (2024 to 2034)
H1	6.5% (2025 to 2035)
H2	7.7% (2025 to 2035)

Country-wise Insights

Countries	Value CAGR (2025 to 2035)
USA	6.5%
UK	7.9%
China	6.9%
Japan	7.3%
India	7.6%

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Stainless Steel Market Size 2023-2027

The stainless steel market size is forecasted to increase by 10,299.64 thousand tons at a CAGR of 3.38% between 2022 and 2027. Market growth relies on various factors, notably the increased consumption of high-strength stainless steel, propelled by its corrosion resistance and excellent mechanical properties. Additionally, economic expansion in China and India contributes significantly to market growth. As these nations continue to develop industrially and infrastructurally, the demand for stainless steel, particularly for construction and manufacturing applications, is expected to rise. This confluence of factors positions the market for substantial growth in the foreseeable future. Furthermore, the stainless steel market analysis report includes historic market data from 2017 to 2021. The stainless steel market forecast indicates robust expansion, driven by increasing demand for steel across various industries. The stainless steel market size growth is propelled by advancements in production technologies and the rise of sustainable manufacturing practices. Current stainless steel market trends show a surge in applications, particularly in construction and automotive sectors, underscoring its vital role in modern infrastructure.

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Stainless Steel Market Segmentation

The stainless steel market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Million' for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments

End-user Outlook 

  Metal products
  Mechanical engineering
  Automobile and transportation
  Infrastructure and construction
  Electrical engineering





Product Outlook

  Flat
  Long





Region Outlook

  North America

    The US
    Canada


  Europe

    The UK
    Germany
    France
    Rest of Europe


  APAC

    China
    India


  Middle East and Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East and Africa


  South America

    Argentina
    Brazil
    Chile

By End-user

The market share growth by the metal products segment will be significant during the forecast period. The use of stainless steel in metal products provides an aesthetic appeal, extensive textures, strength, functionality, corrosion resistance properties, and ease of cleaning properties such products, driving the growth of steel manufacturing. The demand for stainless steel for manufacturing metal products is high due to its ease of fabrication and mechanical properties.

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The metal products segment showed a gradual increase in the market share of 20,426.71 thousand t in 2017. Stainless steel is used in jewelry, belt buckles, clips, casings, watch straps and backs, cooker hoods, outdoor kitchen cabinets, worktops, drainers, sinks, and others. It is also used in kitchen vessels due to its hygiene properties, durability, and resilience to food discoloration and spoilage. The shift in consumer preference toward hygienic and easy-to-clean products is likely to increase the demand for stainless steel in metal products during the forecast period.

By Region

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APAC is estimated to account for 76% of the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC has some of the largest stainless steel-producing countries in the world, such as China, Japan, South Korea, and India. China was the largest producer and consumer of stainless steel in 2020. Manufacturers are shifting to the consumption of scrap steel and stainless steel as raw materials to reduce pollution as well as manufacturing costs. These factors will drive the growth of the market in APAC during the forecast period.

Stainless Steel Market Dynamics

The market plays a vital role across various sectors, including residential housing, building & construction, railways, and automotive & transportation. Its resistance to corrosion surpasses that of carbon steel, making it a preferred choice. Renowned companies like Jindal Steel and Daido Steel contribute to its production capacities. Stainless steel finds applications in diverse architectural elements such as railings, roofing, and staircases, offering both pliability and appealing aesthetic properties. Moreover, it serves industrial needs like heat exchangers and tubulars, alongside providing swimming pool shades, canopies, and atriums with durability and low maintenance cost during repair and renovation. The stainless ste

[221+ Pages Report] The global Scrap Metal Recycling market size is expected to grow from USD 55.20 million in 2021 to USD 83.77 million by 2028, at a CAGR of 7.20% from 2022-2028

Turkey is by far the largest importer of steel scrap in the world, with approximately ** million metric tons of steel scrap imported in 2022. It dwarfed all other main steel scrap importing countries, with India coming in second at around **** million metric tons of imports of the metal. Steel is one of the most widely recycled materials in the world. Benefits of recycling Many regions incentivize recycling, as it improves energy efficiency and reduces pollution. Although the price of steel scrap is strongly influenced by the price of iron ore, it has become financially viable to bring electric arc furnaces on line and make new products from recycled steel. The European Union was the area with the highest growth in steel scrap imports between 2020 and 2021, reaching an increase of some ** percent, while Turkish steel scrap imports rose by ** percent. Overall, the 2021 results were more optimistic compared to the previous year, when steel scrap imports slowed down worldwide. Turkish prominence Steel production is among Turkey’s largest industries, and the country is home to one of the largest steel mining companies in Europe, Ereğli Demir ve Çelik. The steel industry in Turkey has recently come under pressure due to higher prices. Rising costs came as a result of steel tariffs and higher energy prices. Despite these external factors, Turkey’s steel scrap consumption reached almost **** million metric tons in 2022. Its crude steel production was also on the rise by around ** percent. Turkish total steel exports were over ** million in 2022, with the European Union being their main destination area.

Global Scrap Metal Shears market size 2021 was recorded $1377.8 Million whereas by the end of 2025 it will reach $1762 Million. According to the author, by 2033 Scrap Metal Shears market size will become $2881.7. Scrap Metal Shears market will be growing at a CAGR of 6.342% during 2025 to 2033.

Aluminum fell to 2,884.05 USD/T on December 2, 2025, down 0.29% from the previous day. Over the past month, Aluminum's price has fallen 0.99%, but it is still 10.42% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Aluminum - values, historical data, forecasts and news - updated on December of 2025.

The Thai metal remelting scrap ingots market stood at $280M in 2024, remaining relatively unchanged against the previous year. Over the period under review, consumption, however, continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2021 when the market value increased by 5.6% against the previous year. Over the period under review, the market attained the maximum level at $342M in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

In 2024, after two years of decline, there was significant growth in the Indian metal remelting scrap ingots market, when its value increased by 72% to $3M. Over the period under review, consumption saw a prominent expansion. Over the period under review, the market hit record highs at $7.2M in 2021; however, from 2022 to 2024, consumption failed to regain momentum.

Metal Recycling Market size was valued at USD 46.28 billion in 2021 and is poised to grow from USD 50.03 billion in 2022 to USD 88.5 billion by 2030, growing at a CAGR of 8.12% in the forecast period (2023-2030).

Copper rose to 5.19 USD/Lbs on December 2, 2025, up 0.35% from the previous day. Over the past month, Copper's price has risen 3.22%, and is up 25.36% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Copper - values, historical data, forecasts and news - updated on December of 2025.

Scrap Metal Recycling Market size was valued at USD 72.34 Billion in 2024 and is projected to reach USD 123.1 Billion by 2032, growing at a CAGR of 7.58% from 2026 to 2032.

Scrap Metal Recycling Market Drivers

Increasing Demand for Raw Materials: The global demand for raw materials, particularly metals, is constantly growing due to industrialization and infrastructure development. Scrap metal recycling provides a sustainable and cost-effective source of these raw materials.

Stricter Environmental Regulations: Governments worldwide are implementing stricter environmental regulations to reduce pollution and promote sustainable practices. Scrap metal recycling helps reduce waste and minimize the environmental impact of mining and extraction.

Global Metal Machining Scrap Equipment market size 2021 was recorded $2140.11 Million whereas by the end of 2025 it will reach $2739.25 Million. According to the author, by 2033 Metal Machining Scrap Equipment market size will become $4602. Metal Machining Scrap Equipment market will be growing at a CAGR of 6.7% during 2025 to 2033.

In the second quarter of financial year 2025, the cost of a 16 mm steel bar in the Indian cities of Chennai and Hyderabad reached ** Indian rupees per kilogram. However, in Delhi, the steel was slightly more affordable. Compared to the previous year, there was a noticeable increase in steel prices across all cities. The significant uptick in the cost of steel in India towards the end of 2020, was believed to be a result of China’s increased demand for Indian iron ore. Crude steel India’s crude steel production has been growing steadily, with the basic oxygen furnace (BOF) being the preferred production method. While both private and public sector companies contribute to this production, the private sector, dominates the market. JSW Steel, in particular, has the highest production capacity in India, contributing significantly to the country’s position as the world’s second-largest producer of steel. Steel consumption in India Steel consumption in India has been on a steady rise, with the country’s rapid industrialization and development in sectors such as construction, automobile, and infrastructure. This upward trend in steel consumption is estimated to persist, with an annual growth rate of **** percent in fiscal year 2024.

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Steel Manufacturing Market Size 2025-2029

The steel manufacturing market size is valued to increase USD 455.4 billion, at a CAGR of 4.5% from 2024 to 2029. Upsurge in consumption of high-strength steel will drive the steel manufacturing market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 54% growth during the forecast period.
By End-user - Construction segment was valued at USD 793.30 billion in 2023
By Type - Flat segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 35.51 billion
Market Future Opportunities: USD 455.40 billion
CAGR : 4.5%
APAC: Largest market in 2023

Market Summary

The market encompasses the production and distribution of primary steel products, including iron, alloy, and specialty steel. This dynamic industry is driven by several key factors. The upsurge in consumption of high-strength steel, particularly in automotive and construction sectors, is a major growth catalyst. According to the World Steel Association, global steel demand reached 1.8 billion metric tons in 2020, with automotive and construction accounting for approximately 50% of the total consumption. Core technologies, such as electric arc furnaces and continuous casting, are transforming the manufacturing landscape, enabling increased efficiency and productivity. The market also faces challenges, including excess production capacity and growing demand for steel and stainless steel scrap.
Regulations, including environmental and safety standards, continue to evolve, shaping the competitive landscape. In 2021, the European Union's Green Deal aims to make Europe carbon neutral by 2050, potentially impacting the steel industry's production methods and raw material sourcing. Despite these challenges, opportunities abound, particularly in emerging markets and innovative applications. For instance, the increasing adoption of electric vehicles is expected to boost demand for high-strength steel. In 2020, the electric vehicle market share was approximately 3% of global vehicle sales, with projections indicating significant growth in the coming years. As the market continues to unfold, stakeholders must stay informed of these trends and adapt to the evolving landscape.

What will be the Size of the Steel Manufacturing Market during the forecast period?

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How is the Steel Manufacturing Market Segmented and what are the key trends of market segmentation?

The steel manufacturing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Construction
  Machinery
  Automotive
  Metal products
  Others


Type

  Flat
  Long


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Russia
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By End-user Insights

The construction segment is estimated to witness significant growth during the forecast period.

The market is a significant global industry, with the construction sector being its largest consumer in 2024. This sector's growth is driven by the construction of various infrastructure projects such as skyscrapers, tech parks, roads, motorways, and bridges. Steel's popularity in the building industry is due to its exceptional properties, including durability, strength, affordability, and adaptability for prolonged weather exposure. In the manufacturing process, material testing procedures ensure product quality and consistency. Annealing processes refine the steel's microstructure, enhancing its mechanical properties. Robotics in steelmaking streamline production, increasing efficiency and reducing labor costs. Surface treatments protect steel from corrosion and improve its appearance.

Waste management strategies minimize environmental impact, aligning with industry sustainability goals. Stainless steel production represents a growing segment due to its resistance to corrosion and high strength. Heat treatment processes further refine the steel's properties, while inventory management systems optimize production schedules. Basic oxygen furnaces and electric arc furnaces are essential in steel production, with the latter offering increased flexibility and energy efficiency. Defect detection methods employ advanced technologies like digital twin technology and mechanical properties testing to minimize production downtime and improve product quality. Alloy steel production caters to various industries, with process optimization techniques ensuring optimal yield and energy efficiency.

Energy efficiency metrics are crucial in the industry, with galvanizin

The Egyptian metal remelting scrap ingots market was estimated at $274M in 2024, growing by 7.6% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 10%. Metal remelting scrap ingots consumption peaked at $279M in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The Bulgarian metal remelting scrap ingots market rose modestly to $139M in 2024, surging by 3.8% against the previous year. Overall, consumption continues to indicate a mild downturn. The growth pace was the most rapid in 2021 with an increase of 8.7% against the previous year. Metal remelting scrap ingots consumption peaked at $163M in 2012; however, from 2013 to 2024, consumption remained at a lower figure.

The global high-strength steel market was valued at USD 35.80 billion in 2022 and is projected to reach USD 65.28 billion by 2030, registering a CAGR of 7.8% for the forecast period 2023-2030. Factors Affecting High Strength Steel Market Growth

Increasing demand from the automotive industry: 

Increasing demand from the automotive industry for high-strength steel drives the market. As the population and income rise, the demand for automobiles or vehicles is also boosting. According to data from the Ministry of Industry and Information Technology, passenger vehicles sold in China in 2021 show an increase of 7.1 % from 2020. This growth in vehicle manufacturing directly translates into higher demand for high-strength steel. High-strength steel offers a superior strength-to-weight ratio, improved crashworthiness, and fuel efficiency. High-strength steel has properties useful in automotives such as improved toughness properties even at low temperatures, improved weldability, and excellent formability. As automotive manufacturers strive to meet stringent safety regulations and enhance fuel economy, the demand for high-strength steel in the production of lightweight vehicles is growing, surging the high-strength steel market growth.

Growing infrastructure and construction activities:

As the population is rising, the demand for construction activities such as the construction of new buildings and houses is also increasing. People are investing in construction due to urbanization, and population growth. In China, according to estimates, during the 14th five-year plan period from 2021 to 2025, the overall investment in new infrastructure will roughly reach around $ 4.2 trillion. High-strength steel is widely used in construction projects, such as bridges, buildings, and stadiums. High-strength steel reduces material consumption, lowering the erection and transportation costs. HSS is used widely in tall structures and is incorporated in bars to exhibit a specific quantity of deformation under heavy-loaded actions due to its inelastic ability. Thus, the demand for high-strength steel in these sectors is driven by factors like urbanization, population growth, and the need for durable and structurally sound constructions.

The Restraining Factor of High Strength Steel:

High cost of production of high-strength steel:

High-strength steel tends to be more expensive compared to conventional steel and other materials like aluminum. Iron ore is the major material that is used in the production of high-strength steel. Also, other materials such as nickel, chromium, and copper are of importance in the production of high-strength steel. As the cost of these materials like iron ore and other materials is high it directly impacts the cost of high-strength steel by making it expensive. This higher cost can make it less affordable for certain industries, especially those operating on tight budgets or in cost-sensitive markets. Manufacturers and end-users may opt for lower-cost alternatives, consisting of the potential benefits of high-strength steel which may hinder the market of high-strength steel.

Impact of the COVID-19 Pandemic on the High-Strength Steel Market:

The outbreak of COVID-19 hurt the high-strength steel market. The government-imposed lockdowns across various countries disturbed the supply chain and decreased the activities such as the production and utilization of high-strength steel by various industries as the industries’ activities were also paused. Construction projects and infrastructure developments were significantly affected by the pandemic. Many projects were delayed or put on hold due to labor shortages, supply chain disruptions, and financial uncertainties. As a result, the demand for high-strength steel used in construction applications, such as buildings, bridges, and infrastructure was negatively affected. Vehicle production was disrupted due to factory shutdowns, reduced consumer demand, and supply chain interruptions. As a result, the demand for high-strength steel used in automotive applications, such as body frames and components, was significantly impacted. As the pandemic situation improved and the pandemic situation improved and countries began to reopen their economies, the high-strength steel market started to recover. The resumption of construction projects, infrastructure investments, and automotive production contributed to t...