Copper Scrap Market Size, Share, and Growth Analysis, By Grade (Bare Bright Copper, Grade #1 Copper), By Application (Brass Mills, Wire Rod Mills), By End User, By Region - Industry Forecast 2025-2032

Global Copper Scrap Market size was valued at USD 61.2 billion in 2023 and is poised to grow from USD 66.03 billion in 2024 to USD 121.32 billion by 2032, growing at a CAGR of 7.9% during the forecast period (2025-2032).

The global copper scrap market is poised for significant growth, driven by a surge in demand across various sectors, heightened environmental awareness, and a booming electric vehicle industry. Key industries such as construction, automotive, and electronics are increasingly relying on recycled copper, which matches the quality of virgin copper while minimizing environmental impact and cost. China led copper scrap imports in 2022 with a valuation of USD 9.38 billion, underscoring the global reliance on this material. Sustainability-focused initiatives and stringent recycling regulations are incentivizing the industry, though challenges like copper price volatility and competition from alternative materials persist. Investments in advanced recycling technologies, as evidenced by companies like Aurubis and Veolia, are critical to maximizing market potential and enhancing recycling efficiency.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Copper Scrap market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Copper Scrap Market Segments Analysis

Global Copper Scrap Market is segmented by Grade, Application, End User and region. Based on Grade, the market is segmented into Bare Bright Copper, Grade #1 Copper, Grade #2 Copper and Light Copper. Based on Application, the market is segmented into Brass Mills, Wire Rod Mills, Ingot Makers and Others. Based on End User, the market is segmented into Electrical and Electronics, Building and Construction, Transportation, Industrial Machinery and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Copper Scrap Market

The increasing demand for copper across various industries has driven fluctuations in pricing and availability, prompting companies to seek more cost-effective sources of copper. As a result, copper scrap has emerged as a stable and economical alternative to virgin copper. This shift not only helps reduce dependence on unpredictable global markets but also creates numerous opportunities for businesses in the copper scrap sector. By opting for recycled copper materials, companies can achieve a more sustainable supply chain while managing costs effectively, thereby contributing to the growth of the global copper scrap market.

Restraints in the Global Copper Scrap Market

One of the significant challenges facing the global copper scrap market is the extreme volatility in pricing, primarily driven by fluctuating global economic conditions, the availability of raw materials, and variations in copper demand. This unpredictability hampers market stability, making it increasingly difficult for recyclers and manufacturers to strategize and commit to long-term investments. As a result, the uncertainty surrounding copper scrap prices acts as a considerable restraint, hindering not just immediate transactions but also impacting the overall growth potential of the market as stakeholders grapple with the risks associated with fluctuating costs.

Market Trends of the Global Copper Scrap Market

The global copper scrap market is poised for significant growth, driven by the adoption of advanced recycling technologies. Companies specializing in copper scrap are increasingly utilizing hydrometallurgical and electrochemical processes to enhance copper recovery rates while minimizing environmental impact. This shift not only boosts operational efficiency but also aligns with global sustainability goals, attracting investment and fostering innovation within the sector. As regulations tighten and demand for recycled materials rises, firms that embrace these technologies will likely gain a competitive edge, positioning themselves favorably in a market that increasingly values environmental responsibility alongside economic viability.