Steel recycling is a process that is widely performed in steel industries worldwide.
Recycled steel is more cost effective than mining iron ore and then converting it into new steel.
This press release was orginally distributed by SBWire Steel recycling is a process that is widely performed in steel industries worldwide.
Recycled steel is more cost effective than mining iron ore and then converting it into new steel.
There are mainly three broad sources of scrap steel- home scrap (i.e. the scrap produced within a mill and is available within few weeks of time), prompt scrap (i.e. the scrap produced from manufacturing of steel products and is available within few months), and obsolete scrap (i.e. the scrap produced during the deterioration stage of steel products and it takes decades to get the scrap).
Recycled steel possesses numerous benefits such as, it saves landfill space, processing is economic and ecological, saves energy, electricity and water, reduces the use of coal, iron ore & limestone and reduces air pollution, water pollution, mining wastes & consumer wastes.
Recycled Steel Industry: Market Dynamics Certain factors such as increase in demand for scrap steel for the production of steel, application in automobile industry, increasing investments in equipment used for scrap metal extraction, uses of recycled steel such as structural steel and light gauge in building and construction industry, and establishment of steel mills using the technology of electric arc furnace, act as the main drivers of this market.
Also, factors such as increasing prominence of other alternative metals and restrictions in export of scrap steel can be considered as challenges in recycled steel industry over the forecast period.
Regulations and laws in Japan, such as, promotion of efficient utilization of resources, automobile recycling law and container & packaging recycling law have prepared the companies to make it mandatory to promote the scrap metal recycling and also reduce landfill disposal and increase energy savings.
Recycled Steel Market: Market Participants Examples of some of the market participants in the Global Recycled Steel Market identified across the value chain include ArcelorMittal S.A., Gerdau group, Metalico Inc., Maanshan Iron & Steel Company Limited, Baosteel Resources Co. Ltd., Nucor For more information on this press release visit: http://www.sbwire.com/press-releases/recycled-steel-market-to-observe-strong-development-by-2025-818489.htm Media Relations Contact Rahul Singh Marketing Manager Persistence Market Research Telephone: 1-646-568-7751 Email: Click to Email Rahul Singh Web: http://www.persistencemarketresearch.com/market-research/recycled-steel-market.asp