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Recycled Copper Market Research Report - Segmentation By Application (Building and Construction, Transportation, Industrial Machinery and Equipment, Electricity and Electronics, and Others), By Copper Scrap Grade (Bright Bare Copper, Number 1 Copper, Number 2 Copper and Number 1 Insulated Wire) and Region - Industry Forecast 2024 to 2029

Published: March, 2023
ID: 10341
Pages: 175
Formats: report pdf report excel report power bi report ppt

Recycled Copper Market Size (2024-2029):

The Global Recycled Copper Market was estimated at USD 252.64 billion in 2023, and it is expected to reach a revised size of USD 355.95 billion by 2029, with a CAGR of 7.10% over the foreseen period of 2024 - 2029.

Copper scrap collected from various sources is used as a raw material in copper recycling. Metallic copper scrap is separated and processed several times to produce recycled copper. Metallic copper scrap is mainly obtained from scrap of automotive components, building materials, and electronic and electrical products. The global market demand for recycled metals is approximately 825.50 million tons in 2020. Recycled copper is gaining popularity due to its cost-effectiveness, as the production process uses much less energy. Electrical and wiring applications are central concerns for companies in the recycled copper market, as recycled copper retains electrical conductivity. Recycled copper has been found to help increase the energy efficiency of many electrical systems. Also, the copper recycling process consumes much less energy than primary copper production. Therefore, outside of electronics, manufacturers in the recycled copper market are exploring value recovery opportunities in the industrial machinery and equipment sector to expand their revenue streams.

 

recycled-copper-market

Market Drivers:

Global Recycle Copper Market growth is driven by an increasing emphasis on secondary metal production due to environmental concerns such as energy consumption and waste disposal. Copper is ubiquitous in the equipment that modern life increasingly depends on, including high-tech products, electrical installations, motors, solar systems, and smart buildings. Cabling and electrical infrastructure are key revenue-generating sectors for recycled copper, as copper is widely recycled without losing its chemical and physical properties. The high rate of urbanization and industrialization in the Asia Pacific and the Middle East is expected to boost the construction industry, which will have a greater impact on metal demand in the coming years. Constant technological updates and increased focus on metal recycling due to strict legislation are likely to improve the metal recycling rate, helping to achieve big gains for the entire market over the course of the forecast period. Recycled copper has been found to help increase the energy efficiency of many electrical systems. The copper recycling process uses much less energy than primary copper production. Therefore, outside of electronics, manufacturers in the recycled copper market are exploring value recovery opportunities in the industrial machinery and equipment sector to expand their revenue streams. Technical advances in design with better performance have led to greater acceptance of electric vehicles. This is expected to boost the transportation segment of the Asia-Pacific recycled copper market in the near future.

Market Restraints:

An inefficient recycling process is a major factor hampering the overall size of the recycled copper market for years to come. For example, the recycling of ferrous metals constitutes more than 40% of its total production. This is attributed to an inefficient recycling process and machines that are unable to obtain scrap from the total waste generated.

Market Recent Developments:

  • A drop of more than 60% in exports of copper and copper products in March 2019, mainly due to the closure of Sterlite's Tuticorin plant, has forced EEPC India to urge the government to adopt a copper scrap policy to prevent the importation of substandard and dangerous quality materials.
  • Chinese copper scrap imports are expected to fall about 50% this year, said an official from the CMRA recycling division of the China Non-Ferrous Metals Industry Association.

RECYCLED COPPER MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 – 2029

Base Year

2023

Forecast Period

2024 - 2029

CAGR

7.10%

Segments Covered

By Application, Copper Scrap Grade, and Region.

 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

Aurubis AG, Commercial Metals Company, Schnitzer Steel Industries, Inc., Umicore N.V., Kuusakoski Group Oy, Sims Metal Management Ltd., OmniSource, LLC, Elgin Recycling, Pacific Metal Pty Ltd, Aaron Metals, Universal Recycling, Wilton Recycling, SA Recycling LLC, European Recycled Metal and LKM Recycling and Others.

Recycled Copper Market

Market Segmentation:

Recycled Copper Market - By Application:

  • Building and Construction
  • Transportation
  • Industrial Machinery and Equipment  
  • Electricity and Electronics

The building and construction segment had a significant share of the global market in 2019. Recycled copper is used in a wide range of applications in the power generation, distribution, and transmission industry, due to its high electrical and thermal resistance.

Recycled Copper Market - By Copper:

  • Scarp Grade
  • Bright Bare Copper
  • Number 1 Copper
  • Number 2 Copper
  • Number 1 Insulated Wire

Bright and bare copper is one of the important qualities of copper scrap.

Market Regional Analysis:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

In terms of region, the global recycled copper market has been divided into North America, Europe, Asia-Pacific, Latin America and Central and Africa. Asia-Pacific dominated the global market in 2020. China is a key country in the manufacture of electronic products. The increasing demand for recycled copper in the global electronics market due to rapid urbanization and improved lifestyle has increased the electronics market in China. China plans to make significant investments worth USD 2.7 trillion in the transport and infrastructure sector, which in turn will have a subsequent positive impact on the demand for metals and is therefore likely to contribute significantly. At the total size of the market for recycled metals on time, Europe has a vital share of the global recycled copper market. Germany accounted for a significant part of the recycled copper market in Europe in 2020. It is expected to be the largest copper-consuming country in Europe during the forecast period.

Impact of Covid-19 on the Recycled Copper Market:

The supply and demand for recycled copper have suffered severely during the COVID-19 pandemic. The corresponding slowdown in the global manufacturing sector has further affected the growth of the recycled copper market. As such, US-based recycling organizations are holding a series of online events to assess copper demand and supply in the coming months. With the help of virtual events, companies in the recycled copper market are gaining momentum in their ideas to continue operating in a slow-growing market. Recycling organizations have high hopes for the introduction of intermediate vaccines or antidotes to maintain business continuity and restore worker confidence in manufacturing plants. However, the demand for recycled copper has been found to be gradually collapsing in the automotive sector. As such, recycling companies maintain flexible and stable chains to avoid supply shocks in critical application industries such as electronics and wiring.

Market Key Players:

Prominent players operating in the global Recycled Copper Market include

  1. Aurubis AG
  2. Commercial Metals Company
  3. Schnitzer Steel Industries, Inc
  4. Umicore N.V
  5. Kuusakoski Group Oy
  6. Sims Metal Management Ltd
  7. OmniSource, LLC
  8. Elgin Recycling
  9. Pacific Metal Pty Ltd
  10. Aaron Metals
  11. Universal Recycling
  12. Wilton Recycling
  13. SA Recycling LLC
  14. European Recycled Metal
  15. LKM Recycling

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