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Analyst: EAFs Likely to Gain Global Market Share
06/12/2020 - Electric arc furnaces (EAFs) could account for slightly for more than one-third of market share by 2040 as steelmakers come under increasing pressure to reduce carbon emissions, reports Kallanish Steel.
According to Kallanish, Wood Mackenzie analyst Renate Featherstone, who spoke during a recent Bureau of International Recycling webinar, said that the industry will likely see that growth begin to materialize soon, too, predicting that EAFs could account for 30% market share by 2026.
“The first logical step to reducing emissions when demand is growing is to recycle and reuse all available scrap,” she said, according to Kallanish.
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