Scrap Metal Recycling Market Size, Growth Drivers & Forecast 2032
- Pallavi Garudkar
- 9 hours ago
- 3 min read
The global scrap metal recycling market size was valued at USD 420.83 billion in 2024. The market is projected to grow from USD 435.48 billion in 2025 to USD 568.76 billion by 2032 at a CAGR of 3.9% during the forecast period. Scrap metal recycling plays a crucial role in promoting global sustainability and resource efficiency. This process encompasses the collection, sorting, processing, and transformation of discarded metals into valuable raw materials for manufacturing new products. Key drivers of the market include environmental advantages, energy conservation, and economic incentives. The industry’s value is further amplified by the ability of metals to be recycled multiple times without losing their properties, establishing them as a highly sustainable resource for production.
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Segmentation Analysis:
By Type Analysis
Which type dominated the scrap metal recycling market?
The ferrous segment dominated, accounting for 79% of the market share in 2024.
Why is the ferrous segment leading?
Because iron and steel are widely used in automotive, construction, and manufacturing, making ferrous scrap highly available and essential for cost-effective steel production.
How does ferrous scrap recycling support sustainability?
It reduces dependence on virgin ore, lowers emissions, and keeps materials in a circular resource loop.
By Application Analysis
Which application segment leads the market?
Building & construction is the dominant application.
Why is construction leading in scrap metal recycling?
Construction materials such as steel, aluminum, and copper re-enter the scrap cycle after use, contributing major volumes for recycling.
What is its expected market share in 2025?
The segment is forecast to hold 39% of the market share in 2025.
Growth Drivers
Environmental Sustainability
Recycling metals significantly reduces energy consumption and carbon emissions. Metals such as steel, copper, and aluminum can be recycled repeatedly without losing their intrinsic properties, making them ideal for sustainability initiatives.
Infrastructure & Construction Growth
Increasing global infrastructure development is creating strong demand for recycled ferrous and non-ferrous metals.
Automotive & Manufacturing Demand
The automotive sector is a major consumer of recycled steel and aluminum. Manufacturing of appliances, machinery, and equipment further boosts demand.
Government Support & Circular Economy Policies
Regulations promoting recycling, waste reduction, and resource efficiency are supporting overall market expansion.
List of Top Scrap Metal Recycling Companies:
ArcelorMittal (Luxembourg)
Aurubis AG (Germany)
Kuusakoski Group Oy (Finland)
Nucor Corporation (U.S.)
AIM Recycling (Canada)
Sims Limited (U.S.)
OmniSource, LLC (U.S.)
Metallon Recycling Pte Ltd (Singapore)
SA Recycling LLC (U.S.)
TKC Metal Recycling Inc. (Canada)
Key Industry Development:
April 2024 – Brown Gibbons Lang & Co. (BGL) unveiled the sale of Toledo Shredding LLC, a subsidiary of ProTrade Group based in Fairlawn, Ohio, to OmniSource LLC. OmniSource LLC is the scrap processing division of Steel Dynamics Inc., located in Fort Wayne, Indiana. ProTrade Group is a fully integrated scrap metal company specializing in ferrous and nonferrous metals.
November 2023 – Sims Ltd., a global scrap metal and electronics recycling company, announced that it is undergoing a strategic review that could lead to the potential sale of its scrap yards network in the U.K. The primary goal of this process is to explore different options to improve the performance of the U.K. Metal business and maximize returns for its shareholders.
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