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UAE’s Ferrous Scrap and Wastes Market Outlook Report

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Ferrous scrap includes steel and iron scrap that is either produced during fabrication (new scrap) or when end-of-life products are scrapped (old scrap). Regardless of how it is produced, there are different types of scrap including heavy melting scrap, light-weight scrap, black sheet, busheling, and turnings. Demand for heavy melting scrap, which contains more steel and iron, is stronger. Over 95% of ferrous scrap is mainly used by crude steel producers in the United Arab Emirates, but other operations such as cast parts manufacturers also use ferrous scrap.

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Product Description

With a per-capita GDP of $61,000 in 2019, the UAE was the second largest economy in the region that year, behind Qatar. Despite being the most diverse economy in the Gulf Cooperation Council (GCC), the country is still reliant on oil. Oil and petrochemicals account for a major portion (more than half) of the country’s exports. Gold, diamond, and pearl (as jewelry) account for a quarter of exports from the country. With a history of over 20 years in the UAE, the iron and steel industry accounts for 2% of the country’s exports. Downstream iron and steel products constitute the major share of exports in the industry.

Market drivers of the UAE’s ferrous scrap

Due to the availability of low-priced electricity in the UAE, all crude steel capacities in the country use electric furnaces. Technically, these furnaces can be fed scrap only; thus, there is strong potential demand for scrap. However, scrap has accounted for only 17% of total feed in the country’s iron and steel industry, much lower than the global average. This gap can drive the country’s demand for ferrous scrap.

The UAE reported its first case of Covid-19 in February 2020. Not much longer, in March, social distancing and lockdowns were implemented. As a result, the country’s mobility index dropped to around 60%. As the pandemic continued to spread, lockdowns were extended into mid-April, but activities were gradually resumed under certain protocols. The country is now past the first wave of Covid-19, but many are still forecasting worse to come in the coming months. Thus, lockdowns are expected to continue, albeit temporarily, disrupting industrial performance and eventually lead to a decline in the country’s ferrous scrap market.

Overview of the UAE’s ferrous scrap market

Ferrous scrap supply in the UAE has increased over the recent years. Despite the lower share of scrap in the country’s crude steel output compared to the global average, the availability of sponge iron has dampened the urge to increase scrap consumption in the domestic iron and steel industry. Thus, demand for ferrous scrap is expected to grow slowly. Moreover, forecasts of increasing ferrous scrap supply along with industrial and economic developments in the country will eventually translate into a largely unchanged market balance for ferrous scrap over the coming years.

Breakdown of the UAE’s ferrous scrap market

The UAE’s ferrous scrap market can be broken down using three factors. In the first breakdown, ferrous scrap falls into old and new scrap based on origin; scrap produced during fabrication is called new scrap, while scrap from end-of-life goods is known as old scrap. The second factor divides ferrous scrap into heavy melting scrap, light-weight scrap, black sheet, busheling, and turnings. Finally, in the third breakdown, ferrous scrap is categorized based on its applications and consumers, including producers of crude steel, ferroalloys, and cast parts.

Key players in the UAE’s ferrous scrap market

  • Amkay Metals DMCC
  • Emirates Steel Industries P.J.S.C.
  • Al Nasser Industrial Enterprises LLC

Additional Information

Industry

Steel Scrap
Region

United Arab Emirates
Report Type

Industry Report

Specifications

Report Attribute Details
The base year for estimation 2021
Historical data 2011-2020
Forecast period 2021-2026
Quantitative units Value in USD and Volume in Tonne
Report coverage Market Overview, Dynamics, Market Outlook, Risks to Forecast, Consumer Market, Industry Overview, Market Landscape, Competitive Landscape, Market Attractiveness, External Macro Environment Analysis
Segments covered Source, Composition, Type, Application
Pricing and purchase options Please explore our purchase options to meet your exact research needs.

Reasons to Buy

  • Recognize the geographical distribution of import demand
  • Identify the current and future key players of the trading market
  • Achieve a better insight on potential target markets
  • Understand the behavior of major suppliers/customers either globally or regionally
  • Identify competitors as a feed for market analysis

Table of Content

  1. Executive summary
  2. Introduction
    • Objective
    • Market under study
    • Supply Market
      • Specifications
      • Consumption structure
        • Applications
        • Physical properties
      • Subjects discussed
      • Geographical scope under study
      • Study timeframe
      • Study currency
      • Potential audience
  1. Market dynamics
    • Market drivers
    • Restraints
    • Opportunities
    • Challenges
  2. Market overview
    • Market size
    • Supply
      • Supply trends
      • Efficiency rates
    • Consumption
      • Consumption trend
      • Consumption Share of domestic product
    • Trade
      • Exports
      • Imports
      • Trade balance
      • Market balance
    • Market breakdown by application
    • Inventory
      • Supplier inventory
      • Consumers inventory
  1. Market outlook
    • Market factors
      • Costs and prices
      • Competition
      • The government
      • Other factors
    • Future scenarios
    • Risks to forecast
  2. Consumer markets
    • Direct consumer markets
      • Capacity of Consumer Market
      • Consumer Market Operation
      • Trade of Consumer Market Products
      • Consumer Market Factors
      • Forecast of Consumer Market
  1. Export potentials
    • Destinations
      • Trade and insurance costs
      • Import market suppliers
      • Producers potential share
  1. Available EOL Scrap
  2. Market landscape
    • Domestic sales markets
      • Pricing in the domestic market
      • Potential domestic demand
      • Trade agreements for imports
      • Foreign suppliers
    • Foreign sales market
      • Prices
      • Potential markets overview
      • Trade agreements for exports
      • Foreign customers
  1. Competitive landscape
    • Consumers
      • Company profile
      • Revenue structure
      • Gross profit margins
      • Capacity, Supply and sales
  1. Market attractiveness
    • Industry rivalry
    • Threat of new entrants
    • Threat of substitutes
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Conclusion of Porter analysis
  2. PESTEL analysis
    • Political factors
    • Economic factors
    • Social factors
    • Technology factors
    • Environmental factors
    • Legal factors
  3. SWOT analysis
    • Short-term strategies
    • Long-term strategies

List of Figures

  1. Supply and consumption; 2011-2021
  2. Market share of product applications; 2021
  3. Market surplus; 2021-2026
  4. Process flowchart
  5. Market size; 2011-2026
  6. Amount of supply; 2011-2026
  7. Efficiency rate; 2011-2026
  8. Amount of consumption; 2011-2026
  9. Consumption share of domestic product; 2011-2026
  10. Exports of product; 2011-2021
  11. Imports of product; 2011-2021
  12. Historical trade balance; 2011-2021
  13. Future Market balance; 2021-2026
  14. Market consumption breakdown by application; 2011-2026
  15. Inventories of suppliers; 2011-2021
  16. Consumers’ inventory of product; 2011-2021
  17. Production forecast, according to supply and sales analysis; 2021-2026
  18. Market surplus; 2021-2026
  19. The share of end-user industries in the consumption; 2011 and 2021
  20. Changes in the end-consumption of products; 2021 vs 2026
  21. Capacity distribution structure of direct consumers; 2021
  22. Existing capacities of direct consumers in each province; 2021
  23. Suppliers of the export potential destination; 2021
  24. Historical exports to the export potential destination and future potential; 2016-2026
  25. Sales channels
  26. Realized price of the product in the market; 2011-2026
  27. Potential demand of each province; 2021
  28. The main foreign suppliers to the market; 2011-2021
  29. FOB price vs domestic market; 2011-2026
  30. Map of global major importers > 20,000t; 2021
  31. Major foreign customers; 2011-2021
  32. Revenue structure of the consumers; FY2021
  33. Sales income and gross profit margin of the consumers; FY2011-2021
  34. Supply and sales of the consumers; FY2011-2021
  35. SWOT matrix
  36. Strategies positioning

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