Company: SEAH
Filing Date: 2025-11-24
Form Type: F-1/A
Source: 0001213900-25-113788
Chunk: 95

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-11-24
Form: F-1/A
Chunk 95
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 Market Size of Metal Recycling in Asia The domestic metal scrap purchase volume in Asia excluding Japan has shown significant growth, rising from 358,071.0 thousand metric tons in 2019 to 398,432.2 thousand metric tons in 2024, representing a CAGR of 2.2%. This growth is primarily attributed to the steady increase in steel scrap, from 311,099.9 thousand metric tons in 2019 to 340,573.0 thousand metric tons in 2024, and aluminum scrap, from 21,105.1 thousand metric tons in 2019 to 27,691.7 thousand metric tons in 2024. The key drivers behind this trend include robust economic expansion and rapid industrialization across the region, which have led to higher demand for steel and aluminum in the construction, automotive, and manufacturing sectors. Meanwhile, the growing emphasis on sustainable manufacturing practices and circular economy principles has prompted industries to increase the use of recycled metal scrap in their production processes. The rapid pace of urbanization and infrastructure development has also led to increased demand for steel and aluminum. Government policies and recycling initiatives have provided a strong foundation for the growth of the metal scrap market. 65 Looking ahead, the domestic metal scrap purchase volume in Asia, excluding Japan, is projected to rise to around 437,770.1 thousand metric tons in 2029, driven by ongoing industrial development and advancements in technology. Source: Worldsteel Association, The Frost & Sullivan Report Market Outlook of Metal Recycling in Asia Industrial growth in Asia significantly drives the metal recycling market by increasing demand for metals in manufacturing, construction, automotive, and electronics sectors, particularly in countries like China and India. Rapid urbanization and infrastructure projects consume large quantities of steel, aluminum, and copper, with recycled metals offering a cost -effectiveand sustainable alternative to virgin materials. The expansion of industrial activities generates more metal scrap, bolstering the recycling supply chain, while environmental regulations and technological advancements in recycling processes further support market growth. Going forward, industrial growth ensures a robust demand for recycled metals to meet economic and environmental goals in Asia. Growing environmental awareness among Asian consumers, particularly younger generations, is driving demand for recycled products and pushing companies to adopt sustainable practices. Urbanization and visible pollution issues in countries like China and India, coupled with cultural shifts in Japan and South Korea toward minimalism and circularity, have led to increased purchases of eco -friendlygoods like biodegradable packaging and recycled textiles. In response, companies are investing in innovative materials and aligning with