Recycled Metal Market - By Metal, By End Use and Forecast, 2025 - 2034

Recycled Metal Market Size

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 boost the construction industry, subsequently impacting metal demand in the coming years. Governments in these regions are making substantial investments in major construction projects, particularly in India, UAE, Saudi Arabia, and other emerging nations.
 

According to the Indian Brand Equity Foundation, India requires an investment of USD 977.73 billion in infrastructure by 2034 to achieve sustainable development. These trends are likely to drive metal demand and, consequently, metal recycling, contributing to the growth of the overall recycled metal industry during the forecast period. Ferrous and non-ferrous metals are extensively used in the building and construction industry for bridges, building frameworks, and tunnels, with nearly half of the globally produced steel being utilized in this sector.
 

China's planned investment of USD 2.7 trillion in transportation and infrastructure is expected to significantly boost metal demand, contributing to the growth of the recycled metal industry during the forecast period. Additionally, stringent regulations implemented by regional authorities to promote metal recycling and reduce carbon emissions are likely to positively impact the reprocessed metal market in the coming years.
 

The rapid growth of the construction industry in the Asia-Pacific and Middle Eastern regions significantly boosts the demand for recycled metals, as these materials are increasingly used in infrastructure projects. This surge in construction activities necessitates sustainable sourcing, positioning recycled metals as a preferred option due to their lower environmental impact and cost-effectiveness.
 

Simultaneously, the North American electrical and electronics industry is experiencing robust demand for recycled metals, driven by a shift towards sustainable practices and resource efficiency. This trend enhances the attractiveness of recycled materials, which are crucial for manufacturing components.
 

In Europe, stringent regulations and supportive legislation promoting metal recycling further reinforce market growth. These policies not only encourage the responsible disposal and recycling of metals but also incentivize industries to incorporate recycled materials, creating a favourable regulatory environment.
 

Recycled Metal Market Trends

The recycled metal industry is witnessing significant trends in manufacturing efficiency and technological advancements. Innovations such as automated sorting systems and advanced smelting techniques enhance the purity and quality of recycled metals, reducing waste and energy consumption. Manufacturers are increasingly adopting processes like hydrometallurgy and pyrometallurgy, which optimize recovery rates and lower production costs. Additionally, digital technologies, including blockchain for tracking materials and AI for predictive analytics, are streamlining operations and improving supply chain transparency. These advancements not only boost efficiency but also support sustainability goals, making recycled metals more competitive in various industries.
 

Recycled Metal Market Analysis

The non-ferrous segment will capture USD 194.3 billion and demonstrate a 5.1% CAGR till 2034. The recycled metal industry is segmented into ferrous and non-ferrous metals, each exhibiting distinct growth trends. Ferrous metals, primarily steel and iron, dominate due to rising demand in construction and manufacturing, especially in rapidly urbanizing regions like Asia-Pacific and the Middle East. The push for sustainability in these sectors further enhances the appeal of recycled ferrous metals as cost-effective and environmentally friendly options. Meanwhile, the non-ferrous segment, including aluminum, copper, and zinc, is also experiencing robust growth, driven by the electrical and electronics industries in North America, which seek high-quality recycled materials. Technological advancements in recycling processes are improving recovery rates and material quality across 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. The recycled metal market is experiencing diverse growth across various end-user industries. In the building and construction sector, there is a heightened demand for sustainable materials, leading to increased use of recycled metals like steel and aluminum. The transport industry is also leveraging recycled metals to enhance vehicle efficiency and reduce weight. In industrial machinery, manufacturers prioritize recycled materials to improve sustainability while maintaining performance.
 

The electrical and electronics sectors are notable for their reliance on high-quality recycled metals, driven by innovations in technology and sustainability practices. Additionally, the defense, military, and nuclear industries are incorporating recycled metals to meet stringent standards and promote resource efficiency. Packaging and consumer products are increasingly utilizing recycled metals to align with eco-friendly initiatives. Moreover, niche markets such as jewellery and coins are adopting recycled materials to meet consumer demand for sustainable luxury. Overall, these trends highlight the broad applicability and growing significance of recycled metals across multiple industries.
 

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 metal industry is experiencing steady growth, driven by increasing demand for sustainable practices and rising raw material costs. As manufacturers prioritize environmental responsibility, the use of recycled metals has become integral to production processes, particularly in automotive, construction, and electronics sectors. The industry benefits from the rising global focus on reducing carbon footprints, as recycling metals significantly lowers energy consumption compared to primary metal production.
 

Technological advancements in sorting and processing have enhanced the efficiency and quality of recycled metals, making them more competitive with virgin materials. Additionally, regulatory frameworks encouraging recycling and circular economy models are fostering industry expansion.
 

Recycled Metal Market Share

Companies include, Nucor Corporation, a leader in steel production, has made significant contributions to the recycled metal industry by pioneering sustainable steelmaking practices, utilizing electric arc furnaces that rely heavily on recycled scrap metal. Aurubis AG stands out in the non-ferrous sector, focusing on recycling copper and other metals, while enhancing the efficiency and quality of its processes, contributing to a circular economy. Steel Dynamics has also embraced recycling, operating state-of-the-art facilities that transform scrap metal into high-quality steel products, thereby reducing the environmental footprint of its operations.
 

Novelis, a major player in aluminum recycling, has established itself as a leader in the automotive and packaging industries by promoting the use of recycled aluminum, significantly lowering greenhouse gas emissions. Commercial Metals Company focuses on recycling ferrous and non-ferrous metals, investing in advanced technologies to optimize recovery rates and product quality. Collectively, these companies are driving innovation and sustainability in the market.
 

Recycled Metal Market Companies

Major players operating in the recycled metal industry are:

• Armco Metal Holdings
• Asahi Holding
• Befeso
• Hawkeswood Metal Recycling Ltd.
• Hensel Recycling
• Kuusakoski Recycling
• Novelis Inc.
• Schnitzer Steel
• Sims Metal Management
• Steel Dynamics
• Triple M Metal LP
   

Recycled Metal Industry News

March 2023: Commercial Metals Company (CMC) acquired Roane Metals Group LLC, a metal recycling company. This acquisition is expected to enhance the security and supply of competitively priced inputs to CMC's steelmaking operations.
 

September 2022: Commercial Metals Company (CMC) acquired Advanced Steel Recovery, LLC, a leading supplier of recycled ferrous metals located in Southern California which handles approximately 300,000 tons of scrap annually across its processing, industrial collection, and brokerage platforms. This acquisition will enable the growth of CMC in the Western U.S.
 

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:

Click here to Buy Section of this Report

Market, By Metal

• Ferrous
• Non-ferrous
  • Aluminum
  • Copper
  • Lead
  • Precious metals
  • Others

Market, By End Use

• Building & construction
• Transport
• Industrial machinery
• Electrical & electronics
• Defense
• Packaging
• Consumer products
• Nuclear industry
• Military
• Jewellery
• Coins
• Chemical
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• MEA
  • South Africa
  • Saudi Arabia
  • UAE