The Global Recycled Metal Market was valued at USD 128.1 billion in 2024 and is estimated to grow at a CAGR of 5.4% to reach USD 217.1 billion by 2034.
The market focuses on collecting, processing, and repurposing used metals into new raw materials, reducing the need for mining virgin ores. Metals recovered from end-of-life products such as vehicles, buildings, electronics, and packaging play a crucial role in environmental sustainability, energy conservation, and greenhouse gas reduction. Aluminium, steel, copper, and zinc can be recycled repeatedly without losing quality, making them key contributors to a circular economy. Technological advancements, including AI-driven sorting, robotics, sensor-based separation, and low-emission furnaces, have significantly enhanced recovery efficiency. Digital tracking and blockchain applications are increasingly being adopted to ensure transparency, traceability, and authenticity of recycled metals, enabling manufacturers and consumers to verify supply chain integrity and sustainable sourcing practices.
The mechanical processing segment generated USD 76.9 billion in 2024, as it efficiently shreds, cuts, and prepares scrap metals for reuse. Thermal processing follows, excelling in recovering metals from complex or contaminated scrap by melting and separating them at high temperatures to achieve high-purity outputs suitable for industrial use.
The construction and infrastructure segment held a 26.5% share in 2024, driven by high demand for steel and aluminium in building and civil engineering projects. The automotive and transportation sector is experiencing rapid growth due to the adoption of electric and lightweight vehicles. Industrial machinery, electronics, electrical equipment, packaging, and energy utilities also rely heavily on recycled metals for cost-effective and sustainable production, ranging from circuits and wiring to renewable energy systems.
U.S. Recycled Metal Market reached USD 26.6 billion in 2024, driven by increasing demand from the automotive and construction sectors. In North America, the growth is fueled by the shift toward electric vehicles, energy-efficient infrastructure, and sustainable manufacturing practices. Canada is investing in recovery from industrial and obsolete scrap to support circular economy initiatives.
Key companies operating in the Global Recycled Metal Market include: Metaloop GmbH, Redwood Materials Inc., Kuusakoski Group, Steel Dynamics Inc., Radius Recycling Inc., Sims Metal Management Limited, Lohum Cleantech Pvt Ltd, Ace Green Recycling Inc., Nucor Corporation, European Metal Recycling Limited, Asahi Holdings Inc., Befesa S.A., Batx Energies Private Limited, GFG Alliance, Hensel Recycling GmbH, Novelis Inc., ScrapBees GmbH, Sortera Technologies Inc., Triple M Metal LP. Companies in the recycled metal market are employing several strategies to strengthen their position, including expanding processing capacities, investing in advanced sorting and smelting technologies, and integrating automation to improve efficiency. They are also forming strategic partnerships and joint ventures to enhance supply chain capabilities and secure raw material sources. Many players are focusing on digitalization, blockchain-based traceability, and sustainability certifications to appeal to environmentally conscious customers.
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The market focuses on collecting, processing, and repurposing used metals into new raw materials, reducing the need for mining virgin ores. Metals recovered from end-of-life products such as vehicles, buildings, electronics, and packaging play a crucial role in environmental sustainability, energy conservation, and greenhouse gas reduction. Aluminium, steel, copper, and zinc can be recycled repeatedly without losing quality, making them key contributors to a circular economy. Technological advancements, including AI-driven sorting, robotics, sensor-based separation, and low-emission furnaces, have significantly enhanced recovery efficiency. Digital tracking and blockchain applications are increasingly being adopted to ensure transparency, traceability, and authenticity of recycled metals, enabling manufacturers and consumers to verify supply chain integrity and sustainable sourcing practices.
The mechanical processing segment generated USD 76.9 billion in 2024, as it efficiently shreds, cuts, and prepares scrap metals for reuse. Thermal processing follows, excelling in recovering metals from complex or contaminated scrap by melting and separating them at high temperatures to achieve high-purity outputs suitable for industrial use.
The construction and infrastructure segment held a 26.5% share in 2024, driven by high demand for steel and aluminium in building and civil engineering projects. The automotive and transportation sector is experiencing rapid growth due to the adoption of electric and lightweight vehicles. Industrial machinery, electronics, electrical equipment, packaging, and energy utilities also rely heavily on recycled metals for cost-effective and sustainable production, ranging from circuits and wiring to renewable energy systems.
U.S. Recycled Metal Market reached USD 26.6 billion in 2024, driven by increasing demand from the automotive and construction sectors. In North America, the growth is fueled by the shift toward electric vehicles, energy-efficient infrastructure, and sustainable manufacturing practices. Canada is investing in recovery from industrial and obsolete scrap to support circular economy initiatives.
Key companies operating in the Global Recycled Metal Market include: Metaloop GmbH, Redwood Materials Inc., Kuusakoski Group, Steel Dynamics Inc., Radius Recycling Inc., Sims Metal Management Limited, Lohum Cleantech Pvt Ltd, Ace Green Recycling Inc., Nucor Corporation, European Metal Recycling Limited, Asahi Holdings Inc., Befesa S.A., Batx Energies Private Limited, GFG Alliance, Hensel Recycling GmbH, Novelis Inc., ScrapBees GmbH, Sortera Technologies Inc., Triple M Metal LP. Companies in the recycled metal market are employing several strategies to strengthen their position, including expanding processing capacities, investing in advanced sorting and smelting technologies, and integrating automation to improve efficiency. They are also forming strategic partnerships and joint ventures to enhance supply chain capabilities and secure raw material sources. Many players are focusing on digitalization, blockchain-based traceability, and sustainability certifications to appeal to environmentally conscious customers.
Comprehensive Market Analysis and Forecast
- Industry trends, key growth drivers, challenges, future opportunities, and regulatory landscape
- Competitive landscape with Porter’s Five Forces and PESTEL analysis
- Market size, segmentation, and regional forecasts
- In-depth company profiles, business strategies, financial insights, and SWOT analysis
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Table of Contents
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Industry Insights
Chapter 4 Competitive Landscape, 2024
Chapter 5 Market Estimates and Forecast, by Metal Type, 2021-2034 (USD Billion) (Kilo Tons)
Chapter 6 Market Estimates and Forecast, by Scrap Source, 2021-2034 (USD Billion) (Kilo Tons)
Chapter 7 Market Estimates and Forecast, by Processing Method, 2021-2034 (USD Billion) (Kilo Tons)
Chapter 8 Market Estimates and Forecast, by End Use Industry, 2021-2034 (USD Billion) (Kilo Tons)
Chapter 9 Market Estimates and Forecast, by Region, 2021-2034 (USD Billion) (Kilo Tons)
Chapter 10 Company Profiles
Companies Mentioned
The companies featured in this Recycled Metal market report include:- Ace Green Recycling Inc.
- Asahi Holdings Inc.
- Batx Energies Private Limited
- Befesa S.A.an Metal Recycling Limited
- GFG Alliance
- Hensel Recycling GmbH
- Kuusakoski Group
- Lohum Cleantech Pvt Ltd
- Metaloop GmbH
- Nucor Corporation
- Novelis Inc
- Redwood Materials Inc.
- ScrapBees GmbH
- Radius Recycling Inc.
- Sims Metal Management Limited
- Sortera Technologies Inc
- Steel Dynamics Inc.
- Triple M Metal LP
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | November 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 128.1 Billion |
| Forecasted Market Value ( USD | $ 217.1 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 19 |
