A new research report by Custom Market Insights projects significant growth for the global stainless steel scrap market. The report estimates the market size to be approximately USD 38.50 billion in 2025 and forecasts it to reach around USD 70.84 billion by 2034, with a compound annual growth rate (CAGR) of 7.01%. This growth is being driven by a global emphasis on circular economy principles and the decarbonization of metal-intensive industries. The high demand for steel is reinforcing the use of scrap-based Electric Arc Furnace (EAF) technology, which is being encouraged by stringent environmental regulations and carbon border taxes in key markets like the European Union. Government policies, such as India's Steel Scrap Recycling Policy and moves in Japan towards a circular metals economy, are formalizing scrap collection and improving traceability. The report also notes that challenges such as regulatory changes, trade restrictions, and geopolitical instability could pose threats to this growth trajectory.