Metal Recycling Market to Reach US$ 92.2 Billion by 2031, Growing at a CAGR of 6.8% Amid Green Steel, EV Demand, and Circular Economy Push | DataM Intelligence

Global Metal Recycling Market reached US$ 54.5 billion in 2022 and is expected to reach US$ 92.2 billion by 2031, growing with a CAGR of 6.8% during the forecast period 2024-2031., according to DataM Intelligence.

United States: Recent Industry Developments
In October 2025 , Nucor Corporation expanded its U.S. metal recycling capacity with a new electric arc furnace fed entirely by recycled metal in West Virginia. The company partnered with automotive OEMs to supply sustainable steel for EV frames, reducing carbon emissions by 70% compared to primary production.
✅ In September 2025, Sims Limited launched an advanced AI-sorted aluminum recycling line certified for high-purity aerospace-grade material, targeting Boeing suppliers via e-commerce platforms amid rising demand for circular economy inputs.
✅ In August 2025, Commercial Metals Company introduced a closed-loop copper recycling system compliant with EPA guidelines, distributed through industrial suppliers for electrical and construction applications.

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Japan: Recent Industry Developments
✅ In October 2025, DOWA Holdings adopted advanced hydrometallurgical tech in its Japanese facilities, improving rare earth and precious metal recovery by 18% for export-grade recycled electronics to Asia-Pacific markets.
✅ In September 2025, Mitsubishi Materials collaborated with local electronics manufacturers to develop closed-loop copper and aluminum recycling for EV batteries, focusing on resource efficiency under national circular economy policies.
✅ In August 2025, Japan's Ministry of Economy, Trade and Industry subsidized urban mining R&D for 8,000 tons of annual recycled metal output, supporting high-purity steel and non-ferrous alloys.

Asia-Pacific: Recent Industry Developments
✅ October 2025 - Tata Steel opened a new recycled-metal-based electric arc furnace plant in India, supplying B2B construction clients with green steel rebar for sustainable infrastructure projects.
✅ September 2025 - China's Baosteel imported record volumes of recycled aluminum material from the U.S., driven by strong automotive and packaging demand under national green manufacturing initiatives.
✅ In August 2025, Hindalco Industries launched a consumer electronics recycling program in Southeast Asia, integrating with urban collection networks for high-purity copper and aluminum recovery.

Market Trends & Drivers
The Global Metal Recycling Market is thriving due to surging demand for secondary metals amid raw material price volatility, expanding applications in automotive, construction, electronics, and packaging for circular economy compliance, and rising awareness around carbon footprint reduction and resource conservation. Key trends include innovation in processing (e.g., AI sorting, hydrometallurgy for critical metals), growth in high-purity recycled alloys (closed-loop for EVs and aerospace), and increasing adoption in green steel (EAF dominance, hydrogen-reduced DRI). The rise of urban mining, premiumization in emerging markets, and regulatory pushes for recycling mandates (EU Circular Economy Action Plan, U.S. critical minerals policy) are significantly accelerating market expansion amid shifting industry preferences for sustainable, cost-effective, and high-quality recycled metal solutions.

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Competitive Landscape
The market is moderately consolidated among Asia-Pacific, European, and North American producers, with intense competition in advanced sorting, high-purity recovery, and closed-loop systems.
» Nucor Corporation - Leads North America with vertically integrated electric arc furnace steel production.
» Sims Limited leads in metal sorting and processing, supplying high-purity recycled aluminum and copper globally.
» Tata Steel excels in green steel initiatives, focusing on recycled rebar for infrastructure in emerging markets.
» ArcelorMittal specializes in closed-loop recycling for automotive and packaging sectors.
» Hindalco Industries drives APAC growth with integrated aluminum recycling for electronics and packaging.
» DOWA Holdings innovates in precious and rare earth metal recovery from e-waste.
» Commercial Metals Company targets U.S. construction with recycled rebar and structural steel.
» Novelis strengthens presence with closed-loop aluminum sheet for beverage cans and automotive.
» Baosteel focuses on massive-scale steel recycling for Chinese infrastructure.
» Aurubis AG pioneers copper recycling for electronics and energy transition applications.

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Segmentation
☛ By Metal Type
The metal recycling market is segmented into Ferrous Metals and Non-Ferrous Metals. Ferrous Metals dominate global consumption due to massive steel recycling volumes in construction and automotive. Meanwhile, Non-Ferrous Metals are rapidly growing with rising demand for recycled aluminum, copper, and critical metals in EVs and electronics.
☛ By Source
Recycling sources include Automotive, Construction & Demolition, Electrical & Electronics, Industrial, and Others. Automotive recycling leads due to end-of-life vehicle recovery programs, while electronics recycling is expanding rapidly with urban mining initiatives.
☛ By End-User
Based on end-user, the market is bifurcated into Construction, Automotive, Electrical & Electronics, and Others. The Construction segment dominates, driven by rebar and structural steel demand. The Automotive channel is also growing, with rising recycled content in vehicle manufacturing.

Regional Analysis
» Asia-Pacific leads the global metal recycling market, holding over 45% share driven by massive steel production in China, India's infrastructure boom, and growing e-waste recycling in Southeast Asia. Regional expansions in non-ferrous recovery bolster supply for exports.
» North America exhibits robust demand fueled by recycled steel in construction and automotive. The U.S. is a key market for closed-loop aluminum and copper recycling.
» Europe shows steady growth supported by EU Circular Economy Action Plan and high recycling rates. Countries such as Germany, Italy, and France prioritize ferrous and non-ferrous recovery.
» iddle East & Africa show emerging potential driven by urban development. Meanwhile, South America is emerging with imports for automotive and electronics recycling.

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