The global copper and copper alloy scrap recycling market was worth US$ 42.4 billion (EUR 36.2 billion) in 2024. Market analysts say demand for the red metal is on the rise worldwide, cementing the key position of recyclers.
Copper is the third most-consumed metal in the world. The worldwide copper recycling market is projected to be nearly US$ 120 billion by 2034. This represents 10.2% compound annual growth.
Electronics and construction
The electrical and electronics industry uses nearly 60% of the world’s copper, according to the latest US Geological Survey. By end use, the electrical and electronics segment had a dominant market share of 34.2% in 2024.
Another crucial driver is the construction industry, particularly in the Asia Pacific and Middle East regions. Copper is powering the infrastructure necessary to keep pace with urbanisation.
Meanwhile, the European Environment Agency reports that around half of the copper used for construction in Europe is sourced from recycled materials.
Future markets
From the standpoint of the automotive, rail and aerospace industries, there is a shift towards using more advanced materials that are lightweight. The growing production of electric vehicles, which require approximately 83 kg of copper compared to 23 kg for internal combustion engine vehicles, is further driving copper demand.
Additionally, the adoption and utilisation of energy efficient devices like wind turbines, solar panels and smart grid systems highlights the need for copper.
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