Recycled Copper Market

Market Definition

The market involves the activity of collecting, processing, and reselling copper from scrap materials such as industrial waste, electronics, and wiring. It plays a vital role in the circular economy by reducing reliance on primary mining, conserving energy, and minimizing environmental impact.

Recycled copper retains its quality and conductivity, making it essential in industries like construction, electronics, and manufacturing. Market dynamics are influenced by global demand, material availability, recycling advancements, and sustainability regulations.

Recycled Copper Market Overview

The global recycled copper market size was valued at USD 41.09 billion in 2023 and is projected to grow from USD 44.71 billion in 2024 to USD 85.46 billion by 2031, exhibiting a CAGR of 9.70% during the forecast period. 

This is attributed to the increasing demand for sustainable materials, stricter environmental regulations, and the rising adoption of circular economy practices. Industries such as construction, electronics, and automotive are major consumers of recycled copper, due to its cost-effectiveness and lower environmental impact compared to primary copper production.  

Major companies operating in the recycled copper industry are Glencore, Aurubis AG, Radius Recycling, Inc., Umicore, Kuusakoski Oy, Sims Limited, OmniSource, LLC, CMC, Elgin Recycling, SA Recycling LLC, European Metal Recycling Ltd, Boliden Group, AMES Copper Group, LLC., Ferrous Processing & Trading., and Nucor Corporation.

The transition to renewable energy and expanding power infrastructure further fuel the market. Challenges like fluctuating raw material prices and the need for advanced recycling technologies persist; however, the market is poised for significant growth, supported by government policies and technological advancements.

• In January 2025,Kutch Copper, a subsidiary of Adani Enterprises, joined the International Copper Association (ICA) to support sustainable copper production. Developing a major copper smelter in Gujarat, India, the company focuses on recycling and circular economy initiatives. This partnership aligns with global efforts to promote responsible and eco-friendly copper production.

Key Highlights

1. The recycled copper industry size was valued at USD 41.09 billion in 2023.
2. The market is projected to grow at a CAGR of 9.70% from 2024 to 2031.
3. Asia Pacific held a market share of 45.34% in 2023, with a valuation of USD 18.63 billion.
4. The new scrap (manufacturing waste) segment garnered USD 27.90 billion in revenue in 2023.
5. The construction segment is expected to reach USD 29.85 billion by 2031.
6. The market in Asia Pacific is anticipated to grow at a CAGR of 10.83% during the forecast period.

Market Driver

“Regulatory Policies and Sustainability Initiatives Promoting Copper Recycling”

Environmental regulations and sustainability goals are key drivers of the recycled copper market, as governments and industries prioritize reducing mining-related environmental damage, conserving resources, and cutting carbon emissions.

Strict policies, such as the EU Green Deal and China’s Green Manufacturing initiatives, promote circular economy practices by encouraging metal recycling over raw material extraction.  

• For instance, in July 2023, the EU Waste Electrical and Electronic Equipment (WEEE) Directive aimed to reduce e-waste by promoting the collection, recycling, and recovery of electronic products. It sets targets for manufacturers and retailers to manage waste responsibly, ensuring that valuable materials like copper are recycled instead of discarded. The directive supports the circular economy, minimizes environmental impact, and helps achieve the EU’s sustainability goals.  

Global climate commitments, including net-zero targets, push industries to adopt sustainable materials like recycled copper, which requires significantly less energy than primary production.

Regulations on hazardous waste disposal and electronic waste management further drive copper recycling, ensuring compliance with environmental standards while supporting resource efficiency and long-term sustainability.  

Market Challenge

“Quality and Purity Issues”

One of the primary challenges in the global recycled copper market is ensuring quality and purity. Recycled copper often contains contaminants, such as alloys, coatings, and non-metallic impurities, which complicate the refining process and increase costs.

Producing high-purity copper suitable for applications in industries such as electronics and electrical wiring necessitates the use of advanced processing technologies, which are both capital-intensive and energy-demanding.

Without effective sorting and refining, recycled copper may fail to meet industry standards, thereby reducing its usability and market value. Overcoming this challenge requires substantial investment in modern recycling infrastructure, enhanced separation technologies, and stricter material quality regulations.  

Addressing quality and purity challenges in recycled copper requires investment in advanced recycling technologies, such as automated sorting and electrochemical purification, to remove impurities efficiently.

Improved collection and segregation processes can minimize contamination, while strict regulations and industry standards ensure compliance with purity requirements. Collaboration between governments, industries, and research institutions can further drive innovation, enhancing refining efficiency and reducing costs.

Market Trend

“Growth in Renewable Energy and Electric Vehicles (EVs)”

One of the most significant trends in the recycled copper market is the increasing demand from the renewable energy and electric vehicle (EV) sectors. The use of solar panels, wind turbines, and EVs-all of which require large amounts of copper—is expanding rapidly, as governments and industries push for carbon neutrality.

• In October 2023, the European Union (EU) updated the Renewable Energy Directive (RED) to accelerate the transition to clean energy and achieve its climate neutrality goals by 2050. The directive sets binding renewable energy targets, requiring 42.5% of the EU’s total energy consumption to come from renewable sources by 2030, with an additional 2.5% voluntary target. It also strengthens sustainability criteria for bioenergy, wind, and solar power, promoting the use of recycled materials, including copper, in renewable energy infrastructure.

Recycled copper provides a cost-effective and sustainable alternative to mined copper, reducing environmental impact while meeting the rising demand for energy-efficient solutions. This trend is further reinforced by government policies and incentives promoting clean energy and sustainable manufacturing practices.  

Recycled Copper Market Report Snapshot

Segmentation	Details
By End-use Industry	Electrical & Electronics, Construction, Automotive & Transportation, Industrial Machinery, Others (Aerospace, Defense, Telecom)
By Source	Old Scrap (End-of-Life Products), New Scrap (Manufacturing Waste)
By Region	North America: U.S., Canada, Mexico
	Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe
	Asia Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia Pacific
	Middle East & Africa: Turkey, UAE, Saudi Arabia, South Africa, Rest of Middle East & Africa
	South America: Brazil, Argentina, Rest of South America

Market Segmentation

• By End-use Industry (Electrical & Electronics, Construction, Automotive & Transportation, Industrial Machinery, Others (Aerospace, Defense, Telecom)): The construction segment earned USD 14.66 billion in 2023, driven by urbanization, infrastructure growth, and sustainability initiatives. Widely used in wiring, plumbing, and roofing, recycled copper supports cost savings and eco-friendly building practices.
• By Source (Old Scrap (End-of-Life Products), New Scrap (Manufacturing Waste)): The new scrap (manufacturing waste) segment held 67.91% share of the market in 2023. This dominance is attributed to high recovery rates, consistent quality, and lower processing costs compared to old scrap from end-of-life products.

Recycled Copper Market Regional Analysis

Based on region, the market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Asia Pacific accounted for a significant recycled copper market share of around 45.34% in 2023, valued at USD 18.63 billion. This growth is driven by rapid industrialization, urbanization, and strong demand from key sectors, including construction, electronics, and automotive, particularly in China, India, Japan, and South Korea.

Government initiatives promoting sustainable manufacturing and circular economy practices, such as China’s Green Manufacturing Plan and India’s metal recycling policies, further support market expansion.  

• On February 6, 2025, the Bureau of International Recycling (BIR) reported that India's non-ferrous sector is benefiting from economic growth and rising copper & aluminum scrap prices.BIR board member Anirudha Agrawal highlighted strong domestic copper demand, driven by higher Comex prices and reduced EU scrap exports.  

Advancements in e-waste recycling infrastructure and investment in modern processing technologies strengthen the region’s position as a leader in the market. These factors position Asia Pacific as a key driver of the global market, ensuring sustained growth in the coming years. The region is set to play a crucial role in shaping the future of copper recycling, due to the increasing focus on sustainability and resource efficiency.

The recycled copper industry in Europe is poised to grow at a CAGR of 9.49% through the projection period driven by strict environmental regulations, rising demand for sustainable materials, and advancements in recycling technologies. Government initiatives, such as the EU Green Deal and Circular Economy Action Plan, further promote copper recycling, ensuring long-term market growth.  

• In September 2024, Aurubis AG, a leading global provider of non-ferrous metals and one of the Europe’s largest copper recyclers, announced that it had extensively certified its smelter network with the Copper Mark, the leading internationally recognized assurance framework for a sustainable and responsible supply chain in copper production. This certification underscores Aurubis' commitment to sustainable metal production and responsible sourcing practices.

This development reinforces Europe's position as a leader in sustainable copper recycling and ethical sourcing. Similar certifications are expected to drive further investment in green metal production as industries prioritize environmental responsibility.

Regulatory Framework Also Plays a Significant Role in Shaping the Market

• The European Commission leads the EU Green Deal, a strategy for a sustainable economy, emphasizing a circular economy to reduce waste and optimize resource use. The Circular Economy Action Plan (CEAP), adopted in March 2020, targets resource-intensive sectors, enforcing sustainability measures across the entire product lifecycle, from production to waste management.
• In China, the Ministry of Industry and Information Technology and the National Development and Reform Commission issued guidelines to advance China's green manufacturing transition. The policy aims for 40% of manufacturing output to come from green factories by 2030, promoting low-carbon processes, industrial recycling, and reduced coal dependency.
• The U.S. Environmental Protection Agency (EPA) enforces the Resource Conservation and Recovery Act (RCRA), which grants the EPA authority over hazardous waste management from its creation to disposal. This encompasses the generation, transportation, treatment, storage, and disposal of such waste. The RCRA framework ensures the safe handling of solid and hazardous waste, promoting source reduction and beneficial reuse.  
• The Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal is an international treaty designed to reduce the movement of hazardous waste between nations, particularly from developed to less developed countries. It aims to protect human health and the environment by minimizing hazardous waste generation and ensuring its environmentally sound management.

Competitive Landscape

Companies must invest in advanced recycling technologies, efficient supply chain management, and sustainability initiative to achieve a competitive advantage in the continuously evolving recycled copper market.

Adopting high-purity refining techniques, complying with global environmental regulations, and forming strategic partnerships can enhance market positioning. Leveraging circular economy practices and embracing digital innovations, such as AI-driven sorting and block chain for traceability, can drive efficiency and long-term growth.  

• In October 2024,Nexans announced a strategic investment exceeding USD 94.3 million to enhance its copper production and recycling capacity at its Lens plant in France. This initiative aims to increase wire rod production by over 50% and boost copper scrap recycling capacity to manage up to 80,000 metric tons annually. The Lens facility, being the sole copper rod foundry in France, plays a pivotal role in this expansion. This move aligns with Nexans' commitment to advancing the circular economy within the European copper industry.

List of Key Companies in Recycled Copper Market:

• Glencore
• Aurubis AG
• Radius Recycling, Inc.
• Umicore
• Kuusakoski Oy
• Sims Limited
• OmniSource, LLC
• CMC
• Elgin Recycling
• SA Recycling LLC
• European Metal Recycling Ltd
• Boliden Group
• AMES Copper Group, LLC.
• Ferrous Processing & Trading.
• Nucor Corporation

Recent Developments

• In January 2025, Super Copper Corp. and MetaFLO Technologies Inc. announced a joint venture to develop biopolymer solutions for the copper mining industry. This collaboration aims to enhance copper extraction efficiency, produce higher-value copper compounds, and improve tailings remediation. The partnership will leverage MetaFLO's proprietary biopolymer technologies to introduce innovative, environmentally friendly methods to the mining sector.
• In January 2025, Lundin Mining Corporation and BHP Investments Canada Inc. completed the joint acquisition of Filo Corp. Concurrently, they formed a 50/50 joint venture named Vicuña Corp., encompassing both the Filo del Sol and Josemaria projects. This strategic alliance aims to develop an emerging copper district with the potential to support a globally significant mining complex.
• In January 2025, Super Copper Corp. and MetaFLO Technologies announced a joint venture to develop biopolymer solutions for the copper mining industry. This collaboration aims to enhance copper extraction efficiency, produce higher-value copper compounds, and improve tailings remediation. The partnership seeks to introduce innovative, environmentally friendly methods to the mining sector by leveraging MetaFLO's proprietary biopolymer technologies.
• In December 2024, Cyclic Materials announced a multi-year agreement to supply recycled copper to Glencore. Cyclic Materials will process copper from electronic scrap, which Glencore will refine at its Horne Smelter and Canadian Copper Refinery. This partnership supports sustainable copper recycling and the growing demand for circular materials in the energy transition.
• In June 2023, Anglo American and Jiangxi Copper Company signed a Memorandum of Understanding (MoU) to enhance responsible practices in copper mining, processing, and marketing. This collaboration aims to strengthen sustainable supply chain management, ensuring ethical resource utilization and adherence to environmental and social governance (ESG) standards.