SEATTLE (Recycling Monster): The latest market report published by www.marketgrowthreports.com, the global iron and steel scrap recycling market is expected to expand at a CAGR of 9.39% during the period from 2022 to 2028 to touch $617,132.78 million by the end of the forecast period. It must be noted that the market was valued at $360,170.47 million at the end of 2022.
According to the report, the market witnessed a steady growth rate during 2021. The adoption of latest technologies and strategies by key market players is expected to result in significant market growth over the projected period.
The global economy is likely to be impacted in three ways during the Covid-19 pandemic period. It may directly affect the production and demand. The performance of global iron and steel scrap recycling market was indirectly impacted due to supply chain and market constraints. Moreover, many firms were impacted by financial burdens due to lack of business. The market players will be rewarded during the post-Covid era, the report noted.
The report provides a detailed analysis of the impact of the latest economic slowdown on the market. It also considers in-depth understanding of the competitive market and the emerging market trends.
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