Challenges and Prospects of the Global Ship-breaking and Recycling Industry
By Sherazur Rahman The global ship-breaking and recycling industry plays a vital role in the maritime economy. The Ship Recycling Market Report 2025, published by Research and Markets, states that the global ship recycling market was valued at about US$9.1 billion in 2025. It could reach around US$13 billion by 2030, showing a substantial growth potential of 7.4% (CAGR) in the coming years. We m easure the size of the global shipbreaking and recycling industry by how many ships are dismantled and by Light Displacement Tonnage (LDT). LDT is a key indicator of the recoverable material in a vessel. Major players in ship recycling include India, Bangladesh, Pakistan, Türkiye, and China, along with several other countries. According to the NGO Shipbreaking Platform, 139 ships were dismantled and recycled in Bangladesh, India, Pakistan, Türkiye, and China during the first six months of 2026. Of these, 57 were dismantled in Bangladesh, 50 in India, 10 in Pakistan, 20 in Türkiye, and 2 in Chin...