Global Recycled Copper Scrap Market Expected to Reach USD 1,32,471.6 Million by 2031

According to a recent market study published by Growth Market Report, titled, Global Recycled Copper Scrap Market by Type (New Scrap, and Old Scrap), by End-use (Building & Construction, Electrical & Electronics, Transportation, Machinery & Equipment, Energy & Power, Others), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa): Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 78,057.4 Million in 2022 and is expected to grow at a growth rate of 6.5% by the year 2031.

As per Growth Market Report industry analyst Gayatri Shembekar, the “Global Recycled Copper Scrap Market” is anticipated to witness significant growth during the forecast period 2023-2031. Copper scrap is any piece of copper that is no longer being used for its original purpose. It originates from plumbing pipes, old coins, jewelry, electrical cables, or any other source. It is frequently used in construction, motors, industrial machinery, and electronics. It is recyclable and reformed without losing quality.

Four primary types of copper scrap are bare bright copper, grade #1 copper, grade #2 copper, and light copper that is known as grade #3 copper. Copper scrap is sold for a high price, as it is reused and repurposed without affecting the quality of the metal. Around 80% of all copper used currently is recycled and repurposed for different uses.

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Copper scrap materials are 100% recyclable. It is recycled repeatedly without loss of performance and purities. Less energy is used in recycling copper scrap than mining for new materials. Copper scrap for recycling is obtained from products that have ended their useful life. According to International Copper Association (ICA), recycled copper scrap meets about ~30% of total global copper demand.

The primary and secondary research methodology is used for keen observation and study of Recycled Copper Scrap. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, and current and future trends done by the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other hand, the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The outbreak of coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus to the online supply of consumer electronic gadgets and automotive components and creating manufacturing issues.

In January, the WHO labeled the COVID-19 outbreak as a public health emergency of global concern and proclaimed it a global pandemic in March 2020. This deadly virus has become one of the biggest pandemics in human history. The COVID-19 outbreak is a public health emergency that affected almost every industry. The long-term effects of the pandemic are expected to affect the growth of various industries during the forecast period, especially across Eastern Europe, European Union, the US, and Eastern & Central Asia.

As of February 13, 2023, this pandemic had infected over 678,724,789 people, and over 6,791,202 people died from the disease. COVID-19 cases have been registered in more than 231 countries and territories. Many countries are economically weak, while others have poor healthcare systems that affect the economy and life of people.

Key Takeaways from the Study:

• The players include Aurubis AG, Kuusakoski Oy, Umicore, CMC, Schnitzer Steel Industries, Inc, OmniSource, LLC, SA Recycling LLC, LKM Recycling, Elgin Recycling, Universal Recycling Services, Pacific Metal Group, Ames Copper Group, Wilton Waste Recycling, MTB Recycling, Glencore and  Sims Limited.

Report Scope:

Target Audience:

• Supply-side: Raw material suppliers and Manufactures  

• Demand Side: Recycled copper scrap manufacturing companies

• Regulatory Side: Concerned government authorities, and other regulatory bodies.