Recycled Copper Market Is Estimated To Witness High Growth Owing To Increasing Environmental Concerns
- Ronak Shah
- U.S.A
- January 14, 2025

The recycled copper market is estimated to be valued at US$ 45.65 Bn in 2024 and is expected to exhibit a CAGR of 10.4% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights.
The recycled copper market is driven by growing environmental concerns across the globe regarding usage of non-renewable resources for production of copper. Recycled copper helps in conserving energy and natural resources as compared to primary copper production which involves mining and other extraction activities. Recycling 1 ton of copper helps in conserving about 85% of energy required to produce the same amount of copper through mining and extraction process. Copper recycling also helps in reducing greenhouse gas emissions by around 60% as compared to primary copper production. Higher energy savings from copper recycling is another major factor augmenting the market growth over the forecast period.
Key Market Trends: Rise in copper scrap generation- Copper scrap generation has increased significantly over the years owing to growing construction, manufacturing, and electronics industries worldwide. Major sources of copper scrap include electric cables, roofing, plumbing, industrial machinery and waste from consumer goods manufacturing. Higher availability of copper scrap is fuelling the recycled copper market growth.
Increasing copper recycling rates – Stringent environmental regulations across different countries regarding e-waste recycling and circular economy is encouraging metal recycling industry players to improve copper recycling rates. Growing consumer awareness about environmental protection is also driving copper recycling. Major market players have undertaken initiatives to collect and recycle copper scrap in order to meet the rising product demand from end use industries. This is expected to contribute towards market expansion over the forecast period. Coverage of sample here.
Market Opportunities: By Source Type Insights – The recycled copper market generated revenue worth USD 45.65 Bn in 2024 and is anticipated to witness a CAGR of 10.4% during the forecast period from 2024 to 2031. One of the primary factors driving the growth is the growing demand for recycled copper from the building & construction industry. Recycled copper finds widespread applications in electrical wiring, plumbing, and roofing due to its excellent electrical and thermal conductivity properties. The rising construction of green buildings as well as infrastructure development projects across developed and developing economies is fueling the demand for recycled copper.
By Application Insights – Within the application segment, electrical & electronics held the largest share in 2019. Recycled copper is used in making various electronic components such as motors, pumps, wiring, circuit boards, connectors, and switches. With the burgeoning electronics industry and growing sales of consumer appliances and devices, the demand for recycled copper from this application segment is expected to surge in the coming years. Additionally, rapid urbanization and rising disposable incomes are encouraging home renovations and rewiring which is further propelling the product adoption in the electrical & electronics space.
Key Market Takeaways: Recycled Copper Market is anticipated to witness a CAGR of 10.4% during the forecast period 2024-2031, owing to the stringent government regulations regarding e-waste recycling and conservation of natural resources. On the basis of source type, scrap copper segment is expected to hold a dominant position, owing to the high volume of copper scrap generated from power generation, manufacturing, and construction industries.
By application, electrical & electronics segment is expected to dominate the market over the forecast period, driven by the rising adoption of copper in renewable energy infrastructure, electric vehicles, and consumer electronics. Regionally, North America is expected to hold a dominant position over the forecast period, due to significant investments in grid modernization, electric mobility, and renewable energy production in the region.
Competitor Insights: S A Recycling LLC, Recycling Group, Nucor Corporation, Commercial Metals Company, Aurubis AG, European Metal Recycling Limited, Schnitzer Steel Industries, Recent Developments in Recycled Copper Market.
Strong Economic Growth Boosts Copper Consumption: With the global economy showing robust growth in 2022 and 2023, copper demand has increased substantially across various industries. Construction activity is booming in many developed and developing nations. New infrastructure projects, commercial buildings, and housing development require large volumes of copper. The manufacturing sector is also witnessing an uptick globally. This has driven up copper consumption for machinery, equipment, vehicles, consumer electronics and more. As the economic expansion is projected to continue in 2024, copper demand looks set to keep rising which will further support recycled copper.
In the first half of 2023, recycled copper production grew by over 15% compared to the previous year. Several factors contributed to this increase, including supportive government policies around recycling and material reuse. In June 2023, the EU implemented new standards lowering the acceptable copper content in electronic waste destined for landfills. This pushed more end-of-life products into formal recycling systems. Full coverage of the report can be accessed here.