In the next 40-50 years, stocks of ferrous scrap will double
According to worldsteel experts, world reserves of ferrous scrap in 2017 amounted to about 750 million tons, of which 630 million tons were processed. It is projected that global scrap reserves will reach about 1 billion tons in 2030 and 1.3 billion tons in 2050.
Growth Structure
Developing countries, especially China, are expected to show the largest increase in scrap stocks. This is due to a surge in the use of steel in the 1990s and 2000s. It is estimated that by 2030, stocks of Chinese scrap will be approximately 300 million tons, and by 2050 - 400 million tons, compared with 200 million tons today.
In other developing regions, such as India and ASEAN, continued strong growth in steel production and use will also contribute to the growth of scrap inventories. Over the next 15 years, scrap and scrap reserves are expected to double in India and the ASEAN region.
In the rest of the world, scrap inventories will grow at a much slower rate. According to preliminary estimates, the availability of scrap in the regional group of NAFTA, the EU and Japan currently stands at about 320 million tons and is expected to reach about 350 million tons by 2030.
The strong growth in scrap scrap stocks suggests that in the medium to long term we can expect the steel industry to increasingly replace natural resources with steel scrap, thereby saving raw materials, energy and reducing CO2 emissions.
