Recycled Metal Market Size

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.

To get key market trends

  Download Free Sample

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.