Recycled Copper Market Poised for Strong Growth, Hitting US$ 43.0 Bn by 2031 - Reports by Transparency Market Research

The global recycled copper market was valued at US$ 27.0 Bn in 2022 and is poised to witness significant growth, projected to reach US$ 43.0 Bn by 2031. This expansion represents a CAGR of 5.3% from 2023 to 2031, fueled by increasing demand for sustainable materials and rising awareness of environmental impacts from traditional mining activities. Recycled copper, sourced from discarded electrical components, plumbing, and industrial waste, offers a sustainable and energy-efficient alternative to virgin copper mining.

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Market Drivers & Trends

The key driver behind the growth of the recycled copper market is the growing global emphasis on environmental sustainability. Industries and governments worldwide are actively advocating for circular economy practices, which emphasize resource efficiency and waste reduction. Using recycled copper not only reduces the need for mining, but also cuts down on greenhouse gas emissions, water usage, and energy consumption.
Furthermore, copper's finite availability and its widespread use across various high-growth sectors such as construction, electronics, automotive, and renewable energy are making recycled copper a vital raw material. With resource depletion becoming a concern, the recycling of copper is emerging as an indispensable strategy.

Latest Market Trends

• Increased Focus on E-Waste Recycling: The rapid expansion of the electronics market has created an explosion of e-waste. Extracting copper from discarded electronics is becoming a preferred method for manufacturers seeking to align with sustainability goals.
• Advanced Recovery Technologies: Companies are investing in state-of-the-art separation and purification technologies to increase copper yield and purity from thereby enhancing the economic viability of recycling.
• Corporate Sustainability Mandates: Manufacturers are increasingly integrating recycled copper into their supply chains to meet ESG (Environmental, Social, and Governance) benchmarks and appeal to eco-conscious consumers.

Key Players and Industry Leaders

The recycled copper market comprises a mix of global conglomerates and regional players:
• Glencore
• Aurubis AG
• Commercial Metals Company
• Schnitzer Steel Industries, Inc
• Umicore N.V
• Kuusakoski Group Oy
• Sims Metal Management Ltd
• OmniSource, LLC
• Elgin Recycling
• Pacific Metal Pty Ltd
• Aaron Metals
• Universal Recycling
• Wilton Recycling
• SA Recycling LLC
• European Recycled Metal
• LKM Recycling
• Others
These players are actively expanding their geographical presence, strengthening recycling infrastructure, and launching innovative product lines using recycled copper.

Recent Developments

• Glencore, a Switzerland-based commodities giant, announced renewed focus on electronics recycling, recovering 27,000 metric tons of copper in 2021. The company plans to scale up these efforts significantly in line with its climate goals.
• Several firms have entered into long-term contracts with electronics manufacturers and infrastructure developers to ensure consistent demand and supply of recycled copper.
• Government regulations around the world-especially in Europe and Asia-have tightened controls on e-waste disposal, further pushing businesses toward recycling.

Market Opportunities

The future presents immense opportunities for recycled copper, particularly in:
• Renewable energy projects, such as solar and wind power, which require substantial copper components.
• The electric vehicle (EV) industry, which uses more than three times the copper of conventional vehicles.
• Smart electronics and IoT devices, where miniaturization and sustainable sourcing are critical.
• Emerging economies that are rapidly urbanizing and industrializing are expected to be major consumers of recycled copper in the coming years.

Future Outlook

The outlook for the recycled copper market is robust and optimistic. Increasing government mandates, technological advancements in recycling, and growing industrial demand for sustainable inputs are set to position recycled copper as a key element of the global materials supply chain. The integration of AI and recycling will further enhance process efficiency and profitability.
By 2031, it is anticipated that a significant portion of global copper demand will be met through secondary (recycled) sources, reducing dependency on traditional mining.

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