The global scrap metal recycling market is gaining ground, with new data pointing to sustained industrial demand and strong infrastructure-driven growth.
According to Stratview Research, the market was worth EUR 389 billion in 2024 and is projected to climb to EUR 539 billion by 2032. This represents a compound annual growth rate of 4.1%.
Scrap metal recycling plays a central role in supplying secondary raw materials to manufacturing industries. As a result, urbanisation and infrastructure expansion continue to drive demand for cost-effective and lower-carbon materials. At the same time, stricter sustainability targets are pushing industries to increase recycled content in production.
Ferrous demand accelerates
The analysts believe ferrous metals will record the fastest growth, largely due to their widespread use in construction, automotive production and heavy machinery.
Moreover, the shift towards electric arc furnace (EAF) steelmaking is reinforcing this trend. EAF technology relies heavily on recycled steel feedstock, while also reducing energy consumption compared to primary production routes. Consequently, rising investments in infrastructure are further strengthening demand for shred steel across global markets.
Meanwhile, the building and construction sector remains the largest consumer of recycled metals. Rapid urban development not only increases demand for steel and aluminium but also generates significant volumes of scrap material. Recyclers benefit from both supply and demand dynamics within the same value chain.
Asia-Pacific leads growth
Regionally, Asia-Pacific continues to dominate the shred metal recycling market. The region combines strong industrial output with large-scale infrastructure projects, creating a steady flow of both scrap generation and consumption.
Expanding urban populations and manufacturing activity are supporting long-term market growth. Governments across the region are also tightening environmental regulations, which further encourages recycling and resource efficiency.
At the same time, technological advances in sorting and processing are improving recovery rates and boosting economic viability. These developments are helping recyclers extract more value from complex waste streams, while also supporting circular economy goals.
Key players included in the report:
- ArcelorMittal
- Sims
- OmniSource
- Metallon Recycling
- Aurubis
- Kuusakoski Group Oy
- Nucor
- AIM Recycling
- SA Recycling
- TKC Metal Recycling
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