Copper Scrap

Global Copper Scrap Market to Reach US$103.8 Billion by 2030

The global market for Copper Scrap estimated at US$68.8 Billion in the year 2024, is expected to reach US$103.8 Billion by 2030, growing at a CAGR of 7.1% over the analysis period 2024-2030. Old Scrap Feed Material, one of the segments analyzed in the report, is expected to record a 8.5% CAGR and reach US$62.1 Billion by the end of the analysis period. Growth in the New Scrap Feed Material segment is estimated at 5.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$18.7 Billion While China is Forecast to Grow at 11.4% CAGR

The Copper Scrap market in the U.S. is estimated at US$18.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$22.1 Billion by the year 2030 trailing a CAGR of 11.4% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.4% and 6.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.

Global Copper Scrap Market – Key Trends & Drivers Summarized

Why Is Copper Scrap Becoming a Critical Resource in the Global Market?

Copper scrap has gained immense significance as industries worldwide shift towards sustainable and circular economy models. With the rising demand for copper across sectors such as construction, automotive, electrical, and renewable energy, the recycling of copper scrap has become a key strategy to address supply shortages, reduce carbon emissions, and lower production costs. Copper is one of the most recyclable metals, retaining its original properties even after multiple recycling cycles, making it a highly valuable resource in the manufacturing of electrical wiring, plumbing materials, and industrial machinery. The increasing volatility in copper ore mining and fluctuating raw material prices have further incentivized industries to source recycled copper as an alternative. Moreover, stringent environmental regulations and government incentives promoting metal recycling have led to a surge in copper scrap collection and processing, particularly in developed economies such as the U.S., Europe, and China. As industries seek to minimize their environmental impact while ensuring a steady copper supply, the copper scrap market is witnessing robust growth and investment.

How Are Technological Advancements Enhancing Copper Scrap Recycling?

Advancements in recycling technology have significantly improved the efficiency, purity, and cost-effectiveness of copper scrap processing. Innovations in sorting technologies, such as laser-induced breakdown spectroscopy (LIBS) and X-ray fluorescence (XRF), have enabled precise separation of different copper grades, ensuring higher purity levels in recycled copper. Additionally, hydrometallurgical and bioleaching techniques are gaining traction as eco-friendly alternatives to traditional smelting, reducing energy consumption and minimizing toxic emissions. The integration of artificial intelligence (AI) and machine learning in scrap sorting facilities has further optimized the recovery process, identifying and classifying copper scrap with greater accuracy. The development of automated shredding, granulation, and electrochemical refining technologies has also enhanced the quality of secondary copper production, making it nearly identical to virgin copper. Furthermore, innovations in closed-loop recycling systems, where manufacturers design products for easy disassembly and recovery, are helping to maximize copper reuse in industries such as electronics and automotive. As technological advancements continue to improve recycling efficiency, copper scrap is becoming an increasingly viable and sustainable alternative to mined copper.

Which Industries Are Driving the Demand for Copper Scrap?

The demand for copper scrap is being propelled by multiple industries, with the electrical and electronics sector leading the charge. Copper is a critical component in power transmission lines, circuit boards, motors, and renewable energy systems, making recycled copper an attractive alternative for manufacturers looking to reduce costs and improve sustainability. The automotive industry, particularly with the rise of electric vehicles (EVs), has also emerged as a significant consumer of copper scrap. EVs require up to four times more copper than conventional vehicles, and the use of recycled copper in batteries, wiring harnesses, and charging infrastructure is rapidly increasing. The construction sector remains a major driver, utilizing recycled copper for plumbing, roofing, and HVAC systems due to its durability and resistance to corrosion. Additionally, the renewable energy industry is fueling demand for copper scrap, as wind turbines, solar panels, and energy storage systems rely heavily on copper for efficient energy transfer. The shipbuilding, aerospace, and industrial machinery sectors are also integrating recycled copper into their supply chains, recognizing its cost benefits and sustainability advantages. With rising investments in green infrastructure and electrification projects worldwide, copper scrap continues to gain importance as a key raw material.

What Factors Are Driving the Growth of the Copper Scrap Market?

The growth in the copper scrap market is driven by several factors, including the increasing adoption of sustainable manufacturing practices, government regulations promoting metal recycling, and advancements in copper recovery technologies. The rising costs and limited availability of mined copper have encouraged industries to turn to recycled copper as a more cost-effective and environmentally friendly option. Additionally, stringent environmental policies, such as the European Union’s Circular Economy Action Plan and China’s tightened regulations on metal waste imports, have spurred the development of domestic recycling infrastructure in multiple regions. The growing demand for electric vehicles, renewable energy systems, and 5G telecommunications infrastructure has further amplified the need for high-quality recycled copper. Furthermore, the expansion of urbanization and construction activities in developing economies is driving copper scrap collection and reprocessing efforts. The increasing collaboration between scrap collectors, smelters, and end-user industries is also streamlining the supply chain, ensuring higher efficiency in copper recycling. With sustainability becoming a central focus for governments and businesses alike, the copper scrap market is poised for sustained growth, reinforcing its role as a critical component of the global copper supply chain.

SCOPE OF STUDY:

The report analyzes the Copper Scrap market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Feed Material Type (Old Scrap Feed Material, New Scrap Feed Material); Grade Type (Bare Bright Grade, #1 Copper Scrap Grade, #2 Copper Scrap Grade, Other Grades); Application (Brass Mills Application, Wire Rod Mills Application, Ingots Makers Application, Other Applications); End-Use (Electrical and Electronics End-Use, Building and Construction End-Use, Industrial Machinery and Equipment End-Use, Transportation Equipment End-Use, Consumer and General Products End-Use)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 32 Featured) -

• Aurubis AG
• European Metal Recycling Ltd.
• Glencore International AG
• Jansen Recycling Group BV
• Kuusakoski Oy
• Sims Limited
• AMES Copper Group, LLC.
• Enerpat America
• Global Metals & Iron Inc.
• Jain Resource Recycling Pvt Ltd.
• KGHM Metraco S.A.
• Metal Care Alloys Limited
• Perniagaan Logam Panchavarnam Sdn Bhd

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

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We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

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APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

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