Copper Scrap Market Size Worth USD 149.33 Billion by 2034 | CAGR: 8.9%

The global copper scrap market size is expected to reach USD 149.33 billion by 2034, according to a new study by Polaris Market Research. The report “Copper Scrap Market Size, Share, Trends, Industry Analysis Report By Feed Material (Old Scrap, New Scrap), By Scrap Grade, By Application, By End Use, By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The copper scrap market involves the collection, processing, and recycling of used copper from a variety of sources. These sources include discarded electrical wires, old pipes, and electronic components. Instead of ending up in landfills, this material is processed to recover pure copper, which is then used as a valuable raw material for new products. This process creates a sustainable loop, reducing the need for primary copper mining and helping to conserve natural resources.

The global push for sustainability and circular economy practices is making recycled copper a preferred choice for many industries, including renewable energy. At the same time, the increasing cost and volatility of newly mined copper make scrap a more affordable option. This makes the recycling process a crucial part of the global copper supply chain. The market's dynamics are influenced by global economic health, industrial production, and government regulations that promote recycling and the use of recycled materials.

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Copper Scrap Market Report Highlights

• By feed material, the old scrap segment held the largest share of the market in 2024. This is due to the huge, consistent supply of discarded copper from end-of-life products such as old buildings, appliances, and cars. A well-established collection and processing infrastructure further strengthens its dominant position in the market.
• By scrap grade, the #2 copper scrap segment held the largest share of the market in 2024. This is because it includes a broad range of widely available materials. Even though it requires more processing to remove impurities, its sheer volume from common sources makes it a major and reliable resource for the recycling industry.
• By application, the wire rod mills segment held the largest share of the market in 2024. The high demand for electrical wiring and cables in various sectors, from construction to electronics, drives the need for large volumes of processed scrap to produce the necessary wire rods.
• By end use, the electrical & electronics segment held the largest share of the market in 2024. The widespread use of copper in everything from power cables and transformers to circuit boards and consumer devices, along with the high turnover of electronic products, creates a constant demand for recycled copper.
• By region, Asia Pacific held the largest share of the copper scrap market in 2024. This is because of massive urbanization and rapid industrialization, which has led to a huge demand for copper from the region's booming manufacturing and construction industries. The North American market for copper scrap is a major player, driven by strong industrial activity and a well-developed recycling infrastructure. The region has a consistent supply of old scrap from construction and demolition, as well as new scrap from manufacturing.
• A few key players in the copper scrap market include Aurubis AG, Sims Limited, Glencore PLC, Commercial Metals Company, OmniSource, LLC, Ames Copper Group, Jain Metal Group, European Metal Recycling, Kuusakoski Recycling, and KGHM METRACO S.A.

Polaris Market Research has segmented the copper scrap market report based on feed material, scrap grade, application, end use, and region:

By Feed Material Outlook (Revenue – USD Billion, 2020–2034)

• Old Scrap
• New Scrap

By Scrap Grade Outlook (Revenue – USD Billion, 2020–2034)

• Bare Bright
• #1 Copper Scrap
• #2 Copper Scrap
• Other Grades

By Application Outlook (Revenue – USD Billion, 2020–2034)

• Wire Rod Mills
• Brass Mills
• Ingot Makers
• Foundries
• Other Industries

By End Use Outlook (Revenue – USD Billion, 2020–2034)

• Building & Construction
• Electrical & Electronics
• Industrial Machinery & Equipment
• Transportation Equipment
• Consumer & General Products

By Regional Outlook (Revenue – USD Billion, 2020–2034)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America