The recycled metal market size has grown steadily in recent years, expanding from $71.97 billion in 2024 to an estimated $75.47 billion in 2025, at a compound annual growth rate (CAGR) of 4.9%. This historic period growth can mainly be attributed to material specifications, evolving consumer preferences, market acceptance, infrastructure development, scrap availability, and rising demand from end-use industries.
Looking ahead, the market is expected to see robust growth, reaching $99.13 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. This forecasted growth can be attributed to green manufacturing practices, supply chain transparency, investments in waste management, resource scarcity considerations, and corporate sustainability commitments. Major trends during this period include the promotion of a circular economy, a rise in government regulation, growing concerns over resource scarcity, increased adoption of green building practices, and the economic viability of recycled metals.
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What Factors are Driving Growth in the Recycled Metal Market?
The growing demand in the construction sector is expected to drive significant growth in the recycled metal market in the coming years. The sector, which includes manufacturing and commerce related to the construction, maintenance, and repair of structures and the exploration of minerals, has seen a significant uptick in activity due to rapid industrialization and urbanization. As recycled metals are both economically viable and sustainable, their demand has increased. For instance, in November 2023, according to the UK-based Office for National Statistics, new construction activities increased by £18,161 million ($19.96 million) in 2022, with a 16.8% growth in private sector projects and a 13.1% increase in public sector projects. This boom in construction activities is a primary driving factor for the recycled metal market.
The Recycled Metal Market is Segmented By:
Product type:
– Steel
– Aluminum
– Copper
– Other Products
Metal type:
– Ferrous
– Non-Ferrous
– Precious Metals
End-User:
– Construction
– Transport and Automotive
– Industrial Machinery
– Electronics
– Defence
– Packaging
– Military
– Consumer Goods
– Other End-Users
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Who are the Major Players in the Recycled Metal Market?
Major companies operating in the recycled metal market include ArcelorMittal S.A., Nucor Corporation, Commercial Metals Company, Sims Metal Management Limited, Aurubis AG, Novelis Inc., ELG Haniel Group, Kuusakoski Group Oy, Tata Steel Ltd., Steel Dynamics Inc., Norsk Hydro ASA, GFG Alliances, China Baowu Group, HKS Scrap Metals B.V., AMG Resources Corporation, European Metal Recycling, Schnitzer Steel Industries Inc., OmniSource Corporation, Alter Trading Corporation, Ferrous Processing & Trading Co., Metal Management Inc., Tube City IMS LLC, SA Recycling LLC, Upstate Shredding LLC, PSC Metals Inc., American Iron & Metal Company, Southern Recycling LLC, Gerdau S.A., Dowa Holdings Co. Ltd., Liberty Steel Group, and Sims Limited.
Which Trends are Shaping the Recycled Metal Market?
Strategic partnerships and collaborations are shaping the future of the recycled metals market. Major companies operating in this space are entering partnerships to leverage each other’s resources and expand into new markets. For instance, in July 2022, Novelis Inc., a US-based recycling company, partnered with Sortera Alloys Inc., with the goal of increasing the percentage of recycled material in its automotive alloys, hence lowering its carbon footprint. Sortera Alloys Inc. is a US-based company that recycles industrial scrap metal. Also, in February 2022, Daimler India Commercial Vehicles Pvt. Ltd., an Indian corporation manufacturing and selling commercial vehicles, partnered with Cero – Mahindra MSTC Recycling Pvt. Ltd. (MMRPL), an India-based automotive and steel recycling facility.
Which Region Dominates the Recycled Metal Market?
Asia-Pacific was the largest region in the recycled metal market in 2024. The region is expected to be the fastest-growing during the forecast period. The regions covered in the recycled metal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Recycled Metal Market Report 2025 Offer?
Recycled metal is sourced by melting used or scrap metal to create a new product. The process of reclaiming and processing scrap metal from buildings or products, so that it can be used as raw materials to create new products, is known as metal recycling. The Recycled Metal Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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