As per our research report, the Global Recycled Copper Market size is estimated to be growing at a CAGR of 6% from 2023 to 2030.
The pandemic hurt the recycled copper market. Transportation restrictions across national boundaries resulted in supply chain disruptions, which caused delays in the production, processing, and distribution of recycled copper to designated industries. Furthermore, the closure of electronics, automotive, and other industries using recycled copper, led to a further decline in the market growth of recycled copper. Additionally, there were difficulties in sourcing copper scraps, as there were labor shortages and transportation restrictions during the pandemic.
However, a gradual revival was witnessed as people increasingly demanded electronics such as smartphones and laptops for remote work and study, however, there was a limited amount of products that were made from recycled copper. In addition, the healthcare industry increased its demand for medical devices and equipment, that contained recycled copper, however, the availability of such products was to a limited extent.
Post-pandemic, there was an increase in demand for sustainable technologies, which increased the usage of recycled copper in industries such as construction, electric vehicles, green technology-based smartphones, and others. In addition, there is a growing trend of using recycled scraps such as copper in renewable technologies, which helps in increasing efficiency and reducing replacement costs gradually. Furthermore, the increased use of robots for the collection, separation, and processing of copper scraps is widely used in recycling companies in the market. This helps in reducing labor costs and minimizing errors in recycling.
The restraints to this market include fluctuations in virgin copper prices, the presence of substitute materials, and stringent government regulations for dealing with copper scrap.
Based on market segmentation by source, the industrial segment holds the largest share of about 32% in the market. The growth is attributed to an increase in industrial activities such as the processing and manufacturing of machines, and increased use of construction equipment, and electronics that release the majority of copper waste. Furthermore, the consumer segment is the fastest-growing during the forecast period. The growth is attributed to increased usage of consumer electronics such as smartphones, laptops, tablets, washing machines, and other electrical appliances that are frequently replaced with new ones, generating huge amounts of copper waste that can be used as an intermediate product in other industries.
Based on market segmentation by copper scrap grade, bright bare copper holds the highest share of about 25% in the market. The growth is attributed to the increased availability of wires, cables, and extension waste. Moreover, this type of copper scrap is of high quality and is primarily used in premium products. Furthermore, the number-1 insulated wire is the fastest-growing during the forecast period. This scrap of copper is of high quality and di obtained by removing the plastic and rubber insulation of wires, cables, extension cords, and others.
Based on market segmentation by application, electricity & and electronics occupied the highest share of about 37% in the market. The growth is attributed to increasing demand for energy-efficient and eco-friendly technologies such as electric motors, energy-efficient wiring and cabling, switches, and others. Furthermore, the automotive segment is the fastest-growing during the forecast period. The growth is attributed to increasing demand for energy-efficient and cost-effective materials in electrical components of cars such as electric batteries, infotainment systems, wiring, engines, and others.
Based on market segmentation by type of scarp, copper tubes hold the highest share of about 30% in the market. The growth is attributed to increased waste generation from electrical appliances such as air conditioning units, HVAC systems, plumbing systems, and others. Furthermore, copper wire is the fastest-growing during the forecast period. The growth is attributed to the easy availability of copper wire and cable waste generated mainly from electronics.
Based on market segmentation by region, North America holds the highest share of about 47% in the market. The growth is attributed to the rich presence of automotive and electronics companies using recycled copper for their products, thereby contributing to environmental awareness and reduction in carbon footprint. Furthermore, Asia-Pacific witnessed faster growth during the forecast period. The growth is attributed to the high prevalence of waste management practices, particularly focusing on e-waste, and rising infrastructure projects that increasingly demand recycled copper for various building components in the region.
Companies playing a leading role in the Global Recycled Copper market profiled in this report are SA Recycling, Pacific Metal, Aaron Metals, Jain Metal Group, Aurubis, Glencore, Boliden, Cohen Recycling, Rubicon, and Umicore NV.
Automotive
Industrial
Consumer
Bright Bare Copper
Number 1 Copper
Number 2 Copper
Number 1 Insulated Wire
Electricity & Electronics
Building & Construction
Transportation
Automotive
Industrial Machinery & Equipment
Others
Copper Wire
Bar Bright Copper
Copper Tubing
Copper Alloys
North America
Europe
Asia-Pacific
South America
Middle-East & Africa
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