Recycled Copper Scrap Market Size, Share & Industry | 2031

Recycled Copper Scrap Market Size, Share & Industry | 2031

Segments - 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) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2031

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Author : Riddhesh Dani
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Fact-checked by : Harneet Meher
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Editor : Shruti Bhat

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Report Description


Recycled Copper Scrap Market Outlook

The Global Recycled Copper Scrap Market was estimated at USD 78,057.4 Million in 2022 and is anticipated to reach USD 1,32,471.6 Million by 2031, expanding at a CAGR of 6.5% during the forecast period.

Copper is 100% recyclable and is recycled through copper scrap generated at the time of manufacture and fabrication of semi-products or post-consumer scrap. Under the 2015 Paris Agreement, 192 countries have adopted a broad goal to reduce greenhouse-gas (GHG) emissions.

Recycled Copper Scrap Market Outlook

Various countries are committing to net-zero emissions by 2050. The process of recycling copper emits less carbon than the process of mining and refining copper. Recycled copper from scrap materials helps to attain sustainability goals. Governmental focus on reducing carbon emissions and attaining sustainability is boosting the demand for recycled copper scrap from various end-use industries.

Macro-economic Factors

Circular Economy

The circular economy is a system, which is based on the principles of reuse and regeneration of materials and products to improve sustainability and reduce carbon footprint. Governments across the globe are increasingly developing policies and agendas for circular economy.

In recent years, circular economy has gained significant traction, as a promising tool for some of the majorly pressing crosscutting sustainable development challenges. Therefore, recycling and reuse of materials & products as well as metals are important in modern economic system for any developing as well as developed country. 


Recycled copper scrap from end-of-life products and process-generated scrap offers a sustainable pathway towards reducing global dependence on primary ore in a context of the rising copper end-use demand.

Therefore, carbon recycling through a principle of circular economy reach a win-win landscape from resource availability to carbon neutrality. Thus, government focus on a circular economy increases the recycling of copper scrap and positive impacts the market growth.

Industrial Production

Industrial production refers to the overall output of manufactured items, mined materials, and utility services within an economy. It is a crucial macroeconomic aspect that has a substantial impact on the recycled copper scrap market globally.

Recycling of copper scrap is strongly related to industrial production, as this material is utilized in a wide range of industrial applications, such as automotive components, electrical & electronic parts, building & construction, and others. Thus, an increase in industrial production boosts the demand for recycled copper scrap, while a drop in industrial production reduces the demand.


A variety of macroeconomic factors, including changes in government regulations, fluctuations in commodity prices, and movements in global trade patterns, influences industrial production. For instance, government policies that favor industrial growth such as tax incentives for enterprises or investments in infrastructure lead to an increase in industrial production, which, in turn, increase the demand for recycled copper scrap. Industrial performance and manufacturing export performance have been developing rapidly, which are impacting the market.

Recycled Copper Scrap Market Dynamics

Market Driver- Increasing Demand for Copper and Decreasing Copper Reserves

Currently, there is a global scarcity of copper, due to increased demand and difficulties faced by the Latin America-based supply streams. In December 2022, protests erupted throughout Peru, as the former president Pedro Castillo was removed from office in a trial for impeachment. The country holds around 10% of the global supply of copper.

On January 20, 2023, Glencore declared that it was suspending operations at its Antapaccay copper mine in Peru, after protesters looted and set fire to company property. In November 2022, Chile, the largest copper producer across the globe and a source of 27% of the global copper supply, saw its output fall 7% year over year.

In 2022, S&P Global Market Intelligence predicted that by 2035, the annual demand for copper is expected to nearly double from 25 million to over 50 million tones. Copper is used extensively in all infrastructure designed to support renewable energy, due to its exceptional electrical and thermal conductivity. The global power grid needs to be strengthened with millions of feet of copper wiring. Many of tonnes more are needed to construct wind and solar farms.

For instance, an offshore wind turbine requires 8 tonnes of copper for every megawatt of generation capacity. Therefore, copper recycling is expected to support the shift to a low-carbon global economy over the next several years, with scrap serving as a crucial part of the circular economy.

Copper scrap supply, which is currently increasing as increasing number of copper-containing products reach the end of their useful lives, has the potential to significantly disrupt the primary copper supply as well as help meet the anticipated increase in copper demand.

Market Driver- Increasing Sales of Electric Vehicles (EVs)

According to the International Energy Agency, electric vehicles (EVs) sales increased by more than twofold in 2021, bringing the global EV fleet to over 16.5 million units. Each form of EV consumes a significant amount more copper as compared to traditional vehicles with internal combustion engines.

For example, the different categories of vehicles use different amounts of copper, including internal combustion engine (ICE) using 23 kg, hybrid electric bus (Ebus HEV) using 89 kg, plug-in hybrid electric vehicle (PHEV) using 60 kg, hybrid electric vehicle (HEV) using 40 kg, battery electric vehicle (BEV) using 83 kg, and battery-powered electric bus (Ebus BEV) using 224-369 kg of copper depending on the size of the battery.


Majority of the copper foil used in batteries is produced from scrap. Electric vehicles (EVs) rely significantly on parts that need a lot of copper, such as electric motors, wiring, and charging infrastructure. Using recycled copper scrap is a cost-effective means to satisfy the demand for copper in several EV components. Therefore, there is a high demand for copper scrap, due to the rising sales of electric vehicles, which raises the need for infrastructure and components with high copper content.

Market Restraint- Competing Demand for Copper Scrap and Supply Chain Disruptions

Valuable copper-containing products wind up in landfills or informal recycling systems in several regions with poorly developed waste collecting systems, which reduce the quantity of copper scrap that is readily accessible. The loss of copper scraps in landfills is a major issue the scrap industry faces.

The lengthy lifespan of copper products, which are typically used for more than 30 years in infrastructure and buildings, between 10 and 20 years in the transportation industry, and for 10 to 30 years in industrial equipment before becoming available for recycling, also has a negative effect on the availability of scrap. Hence, these factors impact the availability of copper scrap and impede the growth of the market.      

Scope of Recycled Copper Scrap Market Report      

The report on the global recycled copper scrap market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Global Recycled Copper Scrap Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Base Year

2022

Historic Data

2016 and 2021

Forecast Period

2023–2030

Segmentation

by Type (New Scrap and Old Scrap), by End-use (Building & Construction, Electrical & Electronics, Transportation, Machinery & Equipment, Energy & Power, Others)

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered

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.

Recycled Copper Scrap Market Segmental Outlook

Based on type, the global recycled copper scrap market is segmented new scrap and old scrap. The new scrap segment held XX% of the market share in 2022 and is expected to hold XX% of the market share in 2031. New scrap copper recycling has their own properties such as high purity and high grade of copper content.

Thus, the recycling is generally economically beneficial and easy to accomplish, as compared to old scrap recycling. This factor augments the demand for new scrap for copper recycling across the globe.

Recycled Copper Scrap Market Type

Based on end-use, the global recycled copper scrap market is segmented building & construction, electrical & electronics, transportation, machinery & equipment, energy & power, others. The electrical & electronics segment held a XX% share of the market in 2022, due to the growing demand for copper wires made from recycled copper scrap in the electrical and electronic industries.

Recycled copper scrap is the electrical conductor in many types of electrical wiring. Recycled copper scrap wire is used in power transmission, power distribution, electronic circuitry, and countless types of electrical equipment. Furthermore, computer technology, televisions, mobile phones, and portable electronic devices have become a major consumers of recycled copper scrap in recent years.

Recycled Copper Scrap Market End Use

Regional Outlook

On the basis of regions, the global recycled copper scrap market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Asia Pacific held XX% market share in 2022. The market in the region is driven by the growing demand for recycled copper scrap, due to the thriving construction and power generation industries in China, along with continuous investment efforts in the advancement of telecommunications and electronics fields over the years.  

Recycled Copper Scrap Market Region

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the Global Recycled Copper Scrap Market
  • Historical, Current, and Projected Market Size in terms of Value
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints, and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on Global Axial Fans Market Performance

Segments

By Type

  • New Scrap
  • Old Scrap
    • Bright Bare Copper
    • Number 1 Copper
    • Number 2 Copper
    • Number 1 Insulated Wire
    • Number 2 Insulated Wire

By End-Use

  • Building & Construction
  • Electrical & Electronics
  • Transportation
  • Machinery & Equipment
  • Energy & Power
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Market Players Profiled in the Report

  • Aurubis AG
  • Kuusakoski Oy
  • Umicor
  • 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
  • Sims Limited

Competitive Landscape

Manufacturers operating in the global recycled copper scrap market 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.

Recycled Copper Scrap Market Key Players

Frequently Asked Questions

Additional company profiles can be provided on request. For a discussion related to the above findings, click Speak to Analyst.

Supply Chain Disruptions, Raw Material Prices, Government Regulations, and Export & Import are some of the macroeconomic factors impacting the market.

Major manufacturers 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.

COVID-19 hampered the recycled copper scrap market moderately, as it is used in various end-use industries.

In addition to market size (in US$ Million) Company Market Share (in % for the base year 2020). Impact Of Key Regulations, Current and Future Market Trends, Patent Analysis, Penetration & Growth Prospect Mapping, Market Entry Strategies are included for additional data analysis.

The base year considered for the global recycled copper scrap market report is 2022. The complete analysis period is 2016 to 2031, wherein, 2016, and 2021 are the historic years, and the forecast is provided from 2023 to 2031.

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Recycled Copper Scrap Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Recycled Copper Scrap Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Recycled Copper Scrap Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Recycled Copper Scrap Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Recycled Copper Scrap Market Size & Forecast, 2016-2031
      4.5.1 Recycled Copper Scrap Market Size and Y-o-Y Growth
      4.5.2 Recycled Copper Scrap Market Absolute $ Opportunity
   4.6 Copper Cable Recycling: Recent Trends & Impact Analysis
   4.7 Copper Recycling Process: Technology Landscape
   4.8 Copper Recycling Process: Recycling Rate, 2022
   4.9 Copper Scrap: Import & Export Analysis
Chapter 5 Global Recycled Copper Scrap Market Analysis and Forecast By Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Type
      5.1.2 Basis Point Share (BPS) Analysis By Type
      5.1.3 Absolute $ Opportunity Assessment By Type
   5.2 Recycled Copper Scrap Market Size & Volume Forecast By Type
      5.2.1 New Scrap
      5.2.2 Old Scrap
         5.2.2.1 Bright Bare Copper
         5.2.2.2 Number 1 Copper
         5.2.2.3 Number 2 Copper
         5.2.2.4 Number 1 Insulated Wire
         5.2.2.5 Number 2 Insulated Wire
   5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Recycled Copper Scrap Market Analysis and Forecast By End-Use
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By End-Use
      6.1.2 Basis Point Share (BPS) Analysis By End-Use
      6.1.3 Absolute $ Opportunity Assessment By End-Use
   6.2 Recycled Copper Scrap Market Size & Volume Forecast By End-Use
      6.2.1 Building & Construction
      6.2.2 Electrical & Electronics
      6.2.3 Transportation
      6.2.4 Machinery & Equipment
      6.2.5 Energy & Power
      6.2.6 Others
   6.3 Market Attractiveness Analysis By End-Use
Chapter 7 Global Recycled Copper Scrap Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Recycled Copper Scrap Market Size & Volume Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
   8.1 Introduction
   8.2 Current & Future Impact Analysis
   8.3 Economic Impact Analysis
   8.4 Government Policies
   8.5 Investment Scenario
Chapter 9 North America Recycled Copper Scrap Analysis and Forecast
   9.1 Introduction
   9.2 North America Recycled Copper Scrap Market Size & Volume Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Recycled Copper Scrap Market Size & Volume Forecast By Type
      9.6.1 New Scrap
      9.6.2 Old Scrap
         9.6.2.1 Bright Bare Copper
         9.6.2.2 Number 1 Copper
         9.6.2.3 Number 2 Copper
         9.6.2.4 Number 1 Insulated Wire
         9.6.2.5 Number 2 Insulated Wire
   9.7 Basis Point Share (BPS) Analysis By Type
   9.8 Absolute $ Opportunity Assessment By Type
   9.9 Market Attractiveness Analysis By Type
   9.10 North America Recycled Copper Scrap Market Size & Volume Forecast By End-Use
      9.10.1 Building & Construction
      9.10.2 Electrical & Electronics
      9.10.3 Transportation
      9.10.4 Machinery & Equipment
      9.10.5 Energy & Power
      9.10.6 Others
   9.11 Basis Point Share (BPS) Analysis By End-Use
   9.12 Absolute $ Opportunity Assessment By End-Use
   9.13 Market Attractiveness Analysis By End-Use
Chapter 10 Europe Recycled Copper Scrap Analysis and Forecast
   10.1 Introduction
   10.2 Europe Recycled Copper Scrap Market Size & Volume Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Recycled Copper Scrap Market Size & Volume Forecast By Type
      10.6.1 New Scrap
      10.6.2 Old Scrap
         10.6.2.1 Bright Bare Copper
         10.6.2.2 Number 1 Copper
         10.6.2.3 Number 2 Copper
         10.6.2.4 Number 1 Insulated Wire
         10.6.2.5 Number 2 Insulated Wire
   10.7 Basis Point Share (BPS) Analysis By Type
   10.8 Absolute $ Opportunity Assessment By Type
   10.9 Market Attractiveness Analysis By Type
   10.10 Europe Recycled Copper Scrap Market Size & Volume Forecast By End-Use
      10.10.1 Building & Construction
      10.10.2 Electrical & Electronics
      10.10.3 Transportation
      10.10.4 Machinery & Equipment
      10.10.5 Energy & Power
      10.10.6 Others
   10.11 Basis Point Share (BPS) Analysis By End-Use
   10.12 Absolute $ Opportunity Assessment By End-Use
   10.13 Market Attractiveness Analysis By End-Use
Chapter 11 Asia Pacific Recycled Copper Scrap Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Recycled Copper Scrap Market Size & Volume Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Recycled Copper Scrap Market Size & Volume Forecast By Type
      11.6.1 New Scrap
      11.6.2 Old Scrap
         11.6.2.1 Bright Bare Copper
         11.6.2.2 Number 1 Copper
         11.6.2.3 Number 2 Copper
         11.6.2.4 Number 1 Insulated Wire
         11.6.2.5 Number 2 Insulated Wire
   11.7 Basis Point Share (BPS) Analysis By Type
   11.8 Absolute $ Opportunity Assessment By Type
   11.9 Market Attractiveness Analysis By Type
   11.10 Asia Pacific Recycled Copper Scrap Market Size & Volume Forecast By End-Use
      11.10.1 Building & Construction
      11.10.2 Electrical & Electronics
      11.10.3 Transportation
      11.10.4 Machinery & Equipment
      11.10.5 Energy & Power
      11.10.6 Others
   11.11 Basis Point Share (BPS) Analysis By End-Use
   11.12 Absolute $ Opportunity Assessment By End-Use
   11.13 Market Attractiveness Analysis By End-Use
Chapter 12 Latin America Recycled Copper Scrap Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Recycled Copper Scrap Market Size & Volume Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Recycled Copper Scrap Market Size & Volume Forecast By Type
      12.6.1 New Scrap
      12.6.2 Old Scrap
         12.6.2.1 Bright Bare Copper
         12.6.2.2 Number 1 Copper
         12.6.2.3 Number 2 Copper
         12.6.2.4 Number 1 Insulated Wire
         12.6.2.5 Number 2 Insulated Wire
   12.7 Basis Point Share (BPS) Analysis By Type
   12.8 Absolute $ Opportunity Assessment By Type
   12.9 Market Attractiveness Analysis By Type
   12.10 Latin America Recycled Copper Scrap Market Size & Volume Forecast By End-Use
      12.10.1 Building & Construction
      12.10.2 Electrical & Electronics
      12.10.3 Transportation
      12.10.4 Machinery & Equipment
      12.10.5 Energy & Power
      12.10.6 Others
   12.11 Basis Point Share (BPS) Analysis By End-Use
   12.12 Absolute $ Opportunity Assessment By End-Use
   12.13 Market Attractiveness Analysis By End-Use
Chapter 13 Middle East & Africa (MEA) Recycled Copper Scrap Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Recycled Copper Scrap Market Size & Volume Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Recycled Copper Scrap Market Size & Volume Forecast By Type
      13.6.1 New Scrap
      13.6.2 Old Scrap
         13.6.2.1 Bright Bare Copper
         13.6.2.2 Number 1 Copper
         13.6.2.3 Number 2 Copper
         13.6.2.4 Number 1 Insulated Wire
         13.6.2.5 Number 2 Insulated Wire
   13.7 Basis Point Share (BPS) Analysis By Type
   13.8 Absolute $ Opportunity Assessment By Type
   13.9 Market Attractiveness Analysis By Type
   13.10 Middle East & Africa (MEA) Recycled Copper Scrap Market Size & Volume Forecast By End-Use
      13.10.1 Building & Construction
      13.10.2 Electrical & Electronics
      13.10.3 Transportation
      13.10.4 Machinery & Equipment
      13.10.5 Energy & Power
      13.10.6 Others
   13.11 Basis Point Share (BPS) Analysis By End-Use
   13.12 Absolute $ Opportunity Assessment By End-Use
   13.13 Market Attractiveness Analysis By End-Use
Chapter 14 Competition Landscape
   14.1 Recycled Copper Scrap Market: Competitive Dashboard
   14.2 Global Recycled Copper Scrap Market: Market Share Analysis, 2022
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      14.3.1 Aurubis AG
      14.3.2 Kuusakoski Oy
      14.3.3 Umicore
      14.3.4 CMC
      14.3.5 Schnitzer Steel Industries,Inc
      14.3.6 OmniSource, LLC
      14.3.7 SA Recycling LLC
      14.3.8 LKM Recycling
      14.3.9 Elgin Recycling
      14.3.10 Universal Recycling Services
      14.3.11 Pacific Metal Group
      14.3.12 Ames Copper Group
      14.3.13 Wilton Waste Recycling
      14.3.14 MTB Recycling
      14.3.15 Glencore
      14.3.16 Sims Limited

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