Recycled Metal Market Size, Share, and Trends 2025 to 2034

Revenue, 2024

USD 2.81 Bn

Forecast Year, 2034

USD 5.03 Bn

CAGR, 2025 - 2034

6%

Report Coverage

Global

What is the Recycled Metal Market Size?

The global recycled metal market size is valued at USD 2.98 billion in 2025 and is predicted to increase from USD 3.16 billion in 2026 to approximately USD 5.03 billion by 2034, expanding at a CAGR of 6% from 2025 to 2034.

Recycled Metal Market Key Takeaways

• Asia Pacific led the global market with the highest market share of 67% in 2024.
• By metal type, the ferrous segment has held the largest market share in 2024.
• By end user, the transport & automotive segment captured the biggest revenue share in 2024.

The Green Gleam: The Role of AI in Improvement

AI is now entering the recycled metal market and greatly enhancing accuracy, speed, and sustainability. AI-based vision systems and robotic arms separate metals for high purity and hence recover them to the maximum. Advanced sensor fusion techniques aid in alloy classification, thus resulting in high-quality output. AI also aids market intelligence with real-time price prediction, demand forecast, and supply chain optimization. AI-based quality inspection periodically ensures material quality standards; moreover, it enables predictive maintenance, reducing downtime while improving equipment efficiency. AI-based optimization techniques reduce power consumption and emission levels in industrial processes like smelting.

Market Outlook

• Industry Growth Overview:
  The recycled metal market is growing, increasing due to environmental mandates, cost benefits, and growing demand from major sectors such as construction and automotive. Strict government regulations and an increasing global focus on sustainability are driving the adoption of recycled metals
• Global Expansion:
  The recycled metal market is experiencing global expansion due to rising environmental challenges, the circular economy, and the increasing costs of primary metal extraction. The Asia Pacific region is the primary area for global expansion in the recycled metal organizations, presently dominating the market and projected to have massive growth potential.
• Major investors:
  Major investors in the recycling metal market include organizations in the recycled metal industry, including Global Scrap Processors, AIF Capital, Umicore, Dowa Holdings, and Sims Metal Management.

Recycled Metal Market Growth Factors

• Development of construction and infrastructure projects keeps the demand for recycled metals, being the cheaper and sustainable raw material.
• With a rise in automotive, electronic, and industrial applications, the demand is supporting the market's growth reduction in the extraction of the primary metal.
• Greater environmental consciousness and proper regulations concerning mining operations are pushing more into alternative, recycled products.
• Growing capital infusion in recycling technologies improves efficiencies in recovery and quality of recycled products, resulting in wider dispersion.
• Increased urbanization and industrialization trends are creating larger volumes of scrap in developing countries, which is stimulating the entire recycling ecosystem.

Market Scope

Metal Type Insights

The ferrous segment dominated the global recycled market in 2024, in terms of revenue and is estimated to sustain its dominance during the forecast period. The ferrous metal includes iron, steel, stainless steel, and titanium. These metals are extensively used in the construction, electronics, and industrial machineries production. The increased volume usage of such electronics and industrial machineries and construction across the globe have resulted in the increased consumption of ferrous metals that made this a leading segment in the market.

The non-ferrous segment is estimated to be the fastest-growing segment during the forecast period. This is attributable to the rising usage of aluminium in various end use industries such as building & construction, industrial machineries, aerospace, and automotive. The aluminium is a durable and light-weight metal and hence its consumption is growing all over the globe.

End User Insights

The transport & automotive segment dominated the global recycled market in 2024, in terms of revenue and is estimated to sustain its dominance during the forecast period. The extensive usage of recycled metals in the transport and automotive sector across the globe has had increased the consumption of the recycled metal in this end use application, making it the most dominant segment.

The construction segment is estimated to be the most opportunistic segment during the forecast period owing to the rising investments in the developing nations like China, India, and Brazil for infrastructural development. The rapid urbanization and rapid industrialization is boosting the consumption of recycled metal in the construction industry, thereby fueling the market growth.

Regional Insights

Asia Pacific Recycled Metal Market Size and Growth 2025 to 2034

The Asia Pacific recycled metal market size is exhibited at USD 2.98 billion in 2025 and is predicted to be worth around USD 3.37 billion by 2034, at a CAGR of 6.03% from 2025 to 2034.

Asia Pacific dominated the global recycled metal market with a share of over 67% in 2024, in terms of revenue and is estimated to sustain its dominance during the forecast period. Asia Pacific is the highest consumer of the recycled metal. The development of improved waste management system and recycling technologies coupled with increased awareness regarding the deteriorating environmental concerns is fostering the growth of the market in this region. Moreover, Rising urbanization and rapid industrialization is augmenting the demand for the recycled metal in the region. According to the Indian Brand Equity Foundation, India requires an investment of more than US$ 750 billion by 2022 in the development of infrastructure in order to achieve sustainable development. China is planning to invest more than US$2.5 trillion in transport and construction sector that is expected to boost the demand for the recycled metal significantly. These rising investments by the developing economies in the growth of the infrastructure is boosting the market growth.

North America is expected to be the most opportunistic market. This is attributable to the highest production of steel in US, increased environment consciousness, and rising demand for the aluminium from the automotive sector for manufacturing of electric vehicle. The automotive sector is expected to drive the demand for the non-ferrous metals in the upcoming years that may propel the growth of the recycled metal market in the region. Further, rising government initiatives to reduce carbon footprint is encouraging the different industries to adopt recycled metal, thereby fostering market growth in the region.

U.S. Metal Recycling: A Modern Marvel of Mature Infrastructure and Strict Regulation

In the U.S., modern recycling infrastructure, strict environmental regulations such as the Resource Conservation and Recovery Act (RCRA), and government initiatives. The U.S. has a mature and widespread network of scrap metal suppliers, processing services including advanced shredders and sorting technologies, and assortment systems which effectively gather and process large volumes of both ferrous and non-ferrous scrap metal.

• In July 2025, Toyota Tsusho America, Inc., a subsidiary of Toyota Tsusho Corporation, completed the acquisition of Radius Recycling, Inc., a leading North American recycling company with a network of over 100 locations.

Europe: Strong Government Regulations

Europe is significantly growing in the recycled metal market due to strong environmental regulations, the push for a circular economy, and industry-driven sustainability initiatives. The European Union's Green Deal and Circular Economy Action Plan goal to double the use of recycled materials, which drives industries to increase their reliance on secondary materials.

UK: Increasing Demand for Recycling Metal

In the UK, steel producers, such as Tata Steel and British Steel, are converting their conventional furnaces to EAFs, which use scrap metal as a significant raw material. This creates a high domestic demand for recycled metals.

South America: A Rising Demand from Automotive and Construction Industries

South America is significantly growing in the recycled metal market as rising demand from major sectors such as construction and automotive, combined with government initiatives driving sustainable development and the circular economy. Countries such as Brazil and Chile are also leading copper recycling processes due to their large mining resources, with the region beginning to diversify into other non-ferrous metals, which contributes to the growth of the market.

A Can-Do Attitude: Brazil's Path to a 97.3% Recycling Rate

In Brazil, growing industrialization, urbanization, increasing consumer spending, and strong demand from major sectors such as packaging and construction are expected. Brazil is becoming the new worldwide benchmark for aluminium can recycling. Abratalas' Executive Chairman, Catilo Candido, explains the approaches that have led to this outstanding success. In 2024, Brazil reached a 97.3% recycling rate, keeping an average above 95% over the last 15 years.

Recycled Metal Market - Value Chain Analysis

• Raw Material Sourcing:
  Recycled metal raw material sourcing predominantly contributes to gathering industrial, consumer, and demolition scrap, as well as e-waste, through direct relationships with scrap dealers or online marketplaces.
  • Key Players:Aurubis AG
    
    
• Distribution and Sales:
  Recycled metals are significantly distributed and wholesaled through a multi-tiered supply chain involving local scrap yards, large processing facilities, and major manufacturers in industries like construction, automotive, and packaging.
  • Key Players: Sims Limited
    
    
• Product Lifecycle Management:
  This process contributes advanced sorting, purification, and remanufacturing techniques that give discarded metals a second life.
  • Key Players: REMONDIS SE & Co. KG, and Tata Steel

Top Vendors in the Recycled Metal Market & Their Offerings

Segments Covered in the Report

By Metal Type

• Ferrous
• Non-Ferrous

By End User

• Construction
• Transport & Automotive
• Industrial Machinery
• Electronics
• Defense
• Packaging
• Military
• Consumer Goods
• Others

By Region

• North America
• Latin America
• Europe
• Asia-pacific
• Middle and East Africa