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Premium Report Details
Base Year: 2024
Companies covered: 11
Tables & Figures: 172
Countries covered: 18
Pages: 200
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Recycled Metal Market
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Recycled Metal Market Size
The global recycled metal market size achieved USD 128.1 billion in 2024 and will grow at 4.9% CAGR from 2025 to 2034.
Rapid urbanization and industrialization in the Asia Pacific and Middle East regions are expected to improve the construction industry, therefore affecting the demand for metals in the next coming years. Substantial resources are being directed into major construction works by governments in emerging countries especially India, UAE and Saudi Arabia.
The Indian plan equity foundation states that India needs to invest USD 977.73 billion in infrastructure by 2034 for economic development. These trends are likely to increase the demand of metals, and therefore, increase metal recycling which will add to the growth of the entire recycled metal industry during the forecast period. Close to half of the steel produced throughout the world is consumed by the building and construction industry, including bridges, tunnels and other building frameworks.
The growth of the construction Industry in Asia - Pacific and Middle Eastern regions is on an upward trend, which entails that the demand for recycled metals will also increase as they are also use in infrastructure more and more. Due to increased construction activities, there is a need for environmentally friendly sourcing and hence, recycled metals are preferred. They are less harmful to the environment and more economical.
At the same time in North America, there is considerable growth in demand for recycled metals which is stemming from an increase in sustainable practices in the electrical and electronics industry. This raises the appeal of recycled materials which are also essential in the making of components.
Recycled Metal Market Trends
The market for recycled metal is undergoing key changes as a result of advancements in technology and increased efficiency for manufacturing. New developments in the form of automated sorting systems and advanced smelting methods ensure the purity and quality of recycled metal, while cutting down on waste and energy consumption.
There is also an increased use of hydrometallurgy and pyrometallurgy since they improve recovery rates and reduce costs. Apart from these, processes such as using blockchain for tracking materials and AI for predictive analytics facilitate operations and increase supply chain clarity. In addition to increasing efficacy, these innovations bolster sustainability and boost the competitiveness of recycled metals across industries.
Recycled Metal Market Analysis
The non-ferrous segment will capture USD 194.3 billion and demonstrate a 5.1% CAGR by 2034. The market of recycled metals is categorized into ferrous and non-ferrous, each showing different trends in growth. The demand for ferrous metals which include steel and iron is growing to enhance the construction and manufacturing industries in the highly urbanized areas in Asia Pacific and Middle Eastern regions.
The demand for sustainable options in these sectors also broadens the market for recycled ferrous metals as these aspects make it more appealing to construction and manufacturing industries. On the other hand, non-ferrous segment that include aluminum, copper and zinc are also experiencing the needed robust growth from the electrical and electronics industries in North America, which are seeking the best quality recycled products. The advancement in recycling technology is greatly increasing the recovery rate and material quality on both segments.
The building & construction segment held a 37.5% market share in 2024, amounting to USD 46.1 billion and is projected to grow at a 5.5% CAGR from 2025 to 2034. in the building and construction industry, there is growth in the demand for recycled metals. Similarly, the transport industry is adopting the use of recycled metals for lightweight vehicles. Within the industrial machinery, the manufacturers switch to recycled material to improve the environmental sustainability within the operations.
The U.S. recycled metal market is projected to achieve USD 14.2 billion, with a CAGR of 3.8% from 2025 to 2034. The U.S. recycled bulk metals industry continues to show positive sentiments perpetuated by the increasing competition. Companies are willing to invest more in value and supporting activities due to the increasing competition.
There is a global upward focus on extensive the reduction of carbon footprints which the industry benefits from as recycling metals consumes significantly less energy than primary metal production. Increasing focus on the value in the automotive, construction, and electronics sectors means increased focus on the reduced impacts on raw material and energy consumption.
Recycled Metal Market Share
Nucor Corporation, a steel manufacturer, is among several companies that have pioneered sustainable steelmaking through the electric arc furnace method, significantly contributing to the market. In the non-ferrous industry, Aurubis AG stands out by further refining the processes involved in recycling copper and other metals, thus reinforcing the economy's circular principle.
Similarly, Steel Dynamics has adopted recycling through the modernization of their operations by using segmental casting processes to convert scrap steel into steel based products with less environmental impact.
Novelis is a top aluminum recycler within the automotive and packaging industries where the use of recycled aluminum profoundly reduces greenhouse gas emissions. CMC is also involved in recycling of both ferrous and non-ferrous metals while utilizing new technologies for effective recovery and quality of the products. All these companies are fostering innovation and sustainability in the recycled metal industry.
Recycled Metal Market Companies
Major players operating in the recycled metal industry are:
Recycled Metal Industry News
This recycled metal market research report includes in-depth coverage of the industry with estimates and forecasts in terms of revenue (USD Billion) and volume (Million Tons) from 2025 to 2034, for the following segments:
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Market, By Metal
Market, By End Use
The above information is provided for the following regions and countries: