USD 61.2 billion
Copper Scrap Market Size, Share, and Growth Analysis
Copper Scrap Market By Type (Copper Wire Scrap, Copper Tubing Scrap), By Feed Material (Old Scrap, New Scrap), By Source (Industrial Scrap, Consumer Scrap), By Grade, By Melting Point, By Purity Level, By Application, By End Use, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15K2004 |
Region:
Global |
Published Date: February, 2025
Pages:
192
|Tables:
119
|Figures:
71
Format -
Copper Scrap Market Insights
Global Copper Scrap Market size was valued at USD 65.26 billion in 2023 and is poised to grow from USD 69.24 billion in 2024 to USD 111.20 billion by 2032, growing at a CAGR of 6.1% during the forecast period (2025-2032).
Surging demand for copper from multiple industry verticals, growing emphasis on environmental conservation, booming electric vehicle industry, and adoption of circular economy practices are slated to emerge as the top factors boosting the sales of copper scrap on a global level.
Copper is a crucial material in verticals such as electrical wiring, construction, automotive, and electronics. Rapid expansion of these industry verticals to meet the rising demands of consumers is slated to bolster the need for recycled copper scrap in the future. Recycled copper offers the same quality as virgin copper while reducing the cost and environmental impact of mining. As per data from The Observatory of Economic Complexity (OEC), China emerged as the largest importer of copper scrap in the year 2022 amounting to an impressive valuation of USD 9.38 Billion.
Rising emphasis on sustainability around the world has led to the launch of new initiatives and incentives to promote the recycling of multiple high-value materials including copper. Recycling copper scrap reduces the need for mining, which is environmentally destructive, energy intensive, and not in accordance with the sustainability goals of emission reduction that most countries are trying to achieve. Rapidly increasing sales of electric vehicles (EVs) and a subsequent increase in their manufacturing is also offering new opportunities for copper scrap suppliers around the world. High consumer awareness regarding the reduction of emissions has led to a high demand for electric vehicles. Extensive use of copper in multiple electric vehicle components is slated to bolster the global copper scrap market growth and recycled copper among EV manufacturers.
Many countries have implemented strict regulations regarding waste management and metal recycling. Incentives such as tax benefits, subsidies, and grants for recycling businesses are driving growth in the copper scrap market. Stringent e-waste recycling policies also contribute to increased copper recovery. However, fluctuations in copper pricing, challenges in collection and processing, quality concerns, and competition from alternative materials are expected to be key restraints for companies across the study period and beyond.
Key Market Attributes
In December 2024, Aurubis, one of the world’s largest copper recycling companies based in Germany integrated an innovative recycling plant at its site in Belgium. The new plant was built with an investment of € 85 million and is aimed at improving the recycling capacity for materials such as copper and nickel. The new facility features a hydrometallurgical process. The facility is a clear depiction of Aurubis’ commitment to circular economy and also focuses on keeping strategically relevant metals for Europe in the loop.
Use of novel recycling technologies is expected to be of paramount importance for copper scrap companies to maximize their business scope in the long run. Copper scrap providers are projected to invest heavily in R&D and adoption of novel recycling processes and technologies to optimize copper production from different types of scrap.
In November 2024, Veolia, a renowned name in the sustainability space based in France announced the development of a more sustainable solution to replace the traditional method used to recover copper from electrical cables in nuclear facilities. The process was developed under Veolia’s GreenUP program and reduces the treatment time and cost whilst preserving valuable copper for recycling. The new process is also claimed to reduce 85% of emissions linked to copper sulphide extraction from large open pit mines. In an initial trial, the company processed over 12 tonnes of cables that were safely handled and stripped of the contaminated plastic coating,
Investments in improving the recycling infrastructure to promote the proper utilization of copper scraps are slated to offer new business scope for all market players. In August 2023, Hindalco Industries Limited, a leading copper and aluminum manufacturing company based in India announced an investment of INR 2,000 crores for Copper and E-Waste recycling. The company aimed to improve its sustainability whilst also helping India resolve the issue of rising e-waste in the country. The INR 2,000 crore is expected to be used to build a 50,000-ton plant for copper and e-waste recycling with more similar investments to follow over the coming years.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Old Scrap
Fastest Growth
New Scrap
Growth Rate
7.9% CAGR
Global Copper Scrap Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Copper Scrap Market Segments Analysis
Global Copper Scrap Market is segmented by Type, Feed Material, Source, Grade, Melting Point, Purity Level, Application, End Use and region. Based on Type, the market is segmented into Copper Wire Scrap, Copper Tubing Scrap, Copper Sheets/Plates Scrap and Others. Based on Feed Material, the market is segmented into Old Scrap and New Scrap. Based on Source, the market is segmented into Industrial Scrap, Consumer Scrap, Construction Scrap and Automotive Scrap. Based on Grade, the market is segmented into Bare Bright, #1 Copper Scrap, #2 Copper Scrap, #3 Copper Scrap and Others. Based on Melting Point, the market is segmented into High Melting Point Scrap (>=1084 C) and Low Melting Point Scrap (<1084 C). Based on Purity Level, the market is segmented into High Purity (>95%), Medium Purity (85-95%) and Low Purity (<85%). Based on Application, the market is segmented into Wire Rod Mills, Brass Mills, Ingot Makers and Others. Based on End Use, the market is segmented into Building & Construction, Electrical & Electronics, Industrial Machinery & Equipment, Transport Equipment and Consumer & General Products. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Feed Material
The old scrap segment is forecasted to account for more than half of the global copper scrap market share in the future. Scrap generated from the disposal of products at the end of their lifecycle is known as old scrap, which is the most common type of feed material used to derive copper scraps on a global level. Abundant availability of old scrap coupled with low costs of acquisition are helping this segment hold sway over others. High recycling value and reduced environmental impact of old scrap processing are also expected to further cement the dominance of this segment in the long run.
On the other hand, the new scrap segment is slated to account for the second-largest share of the global copper scrap industry going forward. Low availability of new scrap is expected to be a major issue inhibiting this segment from achieving its full growth potential. Less contamination and requirement for less processing of new scrap is expected to help generate new opportunities via this segment. Availability of raw materials with consistent composition allowing copper scrap companies to control the quality of the product as per their application scope across the study period and beyond.
Analysis by Grade
The #2 copper scrap segment is forecasted to account for a prominent chunk of the global copper scrap market share over the coming years. The #2 copper scrap grade provides a good balance between affordability and quality for multiple companies thereby allowing this segment to bring in the most revenue in the future. Allowance for minor impurities such as coatings, solder, or paints are also expected to help this segment hold sway over others. Availability of a wide variety of sources such as old plumbing pipes, wires with insulation, and other construction materials are also helping this segment create new opportunities for market players through 2032.
On the other hand, the demand for bare bright copper scrap is slated to increase at a steady pace around the world. Growing emphasis on sustainability and the highly valuable nature of this grade of copper scrap is forecasted to help this segment offer new business scope for market players in the long run. Bare bright copper scrap refers solely to copper wires and cables with a minimum of 99% copper content. Acceptance of bare bright copper scrap imports in most parts of the world is high in form of electrical wires thereby offering new revenue generation opportunities for copper scrap companies going forward.
Global Copper Scrap Market By Feed Material
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Copper Scrap Market Regional Insights
The Asia Pacific region is estimated to emerge as the top regional market in the global copper scrap industry. Growing emphasis on carbon emission reduction, the launch of government incentives to promote recycling, and high investments in infrastructure development are helping this region bring in the most revenue on a global level.
China is slated to emerge as the most opportune country in the Asia Pacific region for copper scrap suppliers looking to make a mark in this region. High copper consumption from multiple industry verticals and emphasis of government to import more scrap to close the demand-supply gap are helping this country boost the sales of copper scrap. India is slated to witness a robust hike in demand for copper scrap in the future. The rapid expansion of the automotive industry and high emphasis on promoting e-waste recycling are slated to offer new business scope for copper scrap companies.
The Latin America region is slated to emerge as a highly opportune market on a global level for copper scrap providers. Undertaking of mining, smelting, and recycling copper in this region by the International Copper Association (ICA) is making it a highly opportune market. Rapid urbanization and industrialization to promote economic growth are also slated to bolster the sales of copper scrap in this region.
Brazil is estimated to emerge as the most rewarding market for copper scrap suppliers in Latin America. Surging investments in automotive manufacturing in Brazil, availability of government incentives for copper recycling, and increasing awareness regarding circular economy practices are also slated to bolster the demand for copper scrap in the country.
The Middle East and Africa region is termed as the fastest expanding market for copper scrap on a global level. Rapidly increasing investments in infrastructure development by Gulf countries such as Saudi Arabia and the United Arab Emirates coupled with increasing use of copper in multiple electronic products are helping this region boost the demand for copper scrap.
Saudi Arabia is slated to emerge as a highly opportune country for copper scrap providers owing to high emphasis on urbanization and rapidly rising infrastructure development activities. Efforts of government to promote industrial activity are also slated to bolster the sales of copper scrap in the country.
Europe is also expected to witness a high demand for copper scrap in the long run. High emphasis on sustainability in this region and the launch of multiple new initiatives to promote recycling are offering a lucrative business scope for copper scrap companies.
Spain and the United Kingdom are slated to be the top markets for copper scrap in the European region going forward. Surging use of electric vehicles, high investments in renewable energy infrastructure, and adoption of novel copper recycling technologies are also slated to help create new opportunities in the countries.
Global Copper Scrap Market By Geography
- Largest
- Fastest
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Copper Scrap Market Dynamics
Drivers
Surge in Copper Prices and Supply Chain Disruptions
- As use of copper rises in almost all industry verticals, fluctuations in pricing and availability of copper have pushed companies to look for affordable copper sources. Copper scrap provides a more stable and economical alternative to virgin copper, reducing dependence on fluctuating global markets and creating new opportunities for copper scrap companies.
Rapid Urbanization and Infrastructure Development
- Growing urbanization and industrialization in developing countries has led to a significant increase in investments in infrastructure development. Extensive use of copper in almost all infrastructure projects such as bridges, electrical grids, and transportation networks coupled with a preference for recycled copper is also expected to favor the global copper scrap market outlook in the long run.
Restraints
Fluctuations in Copper Scrap Pricing
- The highly volatile nature of copper scrap pricing owing to its dependence on global economic conditions, raw material availability, and copper demand is slated to be key restraint across the global copper scrap market forecast. This unpredictability in pricing can affect market stability thereby making it difficult for recyclers and manufacturers to plan long-term investments.
Challenges in Scrap Collection and Processing
- The need for significant investments in infrastructure and technology to ensure proper scrap collection and processing is estimated to impede the sales of copper scrap going forward. Many countries in developing and underdeveloped regions lack adequate recycling facilities, limiting the supply of high-quality copper scrap and increasing production costs.
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Copper Scrap Market Competitive Landscape
Copper scrap companies should focus on utilizing advanced recycling and processing technologies to maximize the efficiency of their operations. Targeting countries with rising e-waste issues and supportive government initiatives for recycling are slated to help create new business scope as per this global copper scrap market analysis. Surging use of electronics and electrical components in multiple industry verticals is also slated to boost the sales of copper and copper scrap in the long run.
Top Player’s Company Profiles
- Ames Copper Group
- Aurubis AG
- Commercial Metals Company (CMC)
- Glencore plc
- Sims Limited
- Global Metals & Iron Inc.
- Jain Metal Group
- KGHM Polska Miedź S.A. (KGHM Metraco S.A.)
- Steel Dynamics, Inc (OmniSource, LLC.)
- Pascha GmbH.
- Perniagaan Logam Panchavarnam Sdn Bhd
- Sloan Implement Co. (S.I.C. Recycling, Inc.)
- European Metal Recycling (EMR)
- TSR Group (HKS Scrap Metals BV)
- Jansen Recycling Group BV
- Kuusakoski Group Oy
- Mallin Companies
- Wieland Group
- Nucor Corporation (David J. Joseph Company)
- Stena AB
Recent Developments
- In March 2024, Lithuania, the Czech Republic, Latvia, and Estonia submitted a proposal to Brussels to ban the imports of Russian scrap. The proposed ban is aimed at import of ferrous metal waste and scrap, copper, and aluminum into the European Union from Russia.
- In May 2024, Metso, a Finnish industrial machinery supplier announced the launch of a new heavy-duty Outotec Kaldo L Furnace. The top blown rotary converter (TBRC) Kaldo L furnace is especially designed for melting, reducing and converting of various primary and secondary raw materials, such as concentrates, copper scrap, anode slimes and e-waste.
- In July 2024, MyScrapMatters, a new website to provide centralized and comprehensive information about the scrap metal industry in South Africa was launched and is managed by XA Global Trade Advisors. The website aims to reduce the issue of theft in the scrap metal industry in the country whilst also promoting transparency as well.
Copper Scrap Key Market Trends
- Use of Advanced Recycling Technologies: Copper scrap companies should focus on the adoption of advanced recycling technologies to maximize their business scope in the future. Use of hydrometallurgical and electrochemical processes to improve copper recovery rates and reduce environmental impact are expected to help companies make most of this copper scrap market trend in the long run.
- Expansion of Urban Mining and E-Waste Recycling: Copper scrap companies can also invest in urban mining which involves extracting metals from discarded electronics and infrastructure. Urban mining coupled with e-waste recycling as electronic devices contain a good amount of copper are slated to offer new revenue generation opportunities for market players across the study period and beyond.
Copper Scrap Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising copper prices, high investments in infrastructure development, and growing sales of electric vehicles are projected to primarily drive the demand for copper scrap going forward. On the contrary, challenges in copper scrap collection and processing and fluctuations in copper pricing are expected to slow down the sales of copper scrap in the future. The Asia Pacific region is forecasted to account for a dominant share of the global copper scrap industry owing to the launch of supportive initiatives to promote recycling and rising EV manufacturing activity in countries such as China and Japan. Use of advanced recycling technologies and emphasis on e-waste and urban mining can help copper scrap companies expand their business scope in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 65.26 billion |
| Market size value in 2032 | USD 111.20 billion |
| Growth Rate | 6.1% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Copper Scrap Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Copper Scrap Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Copper Scrap Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Copper Scrap Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Copper Scrap Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Copper Scrap Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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