United States Metal Recycling Market 2031 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

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.

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Key Development:

United States: Recent Industry Developments

✅ In February 2026, Cyclic Materials announced an $82 million investment to build a rare earth recycling plant in South Carolina, a major facility aimed at processing and expanding annual capacity for critical magnetic materials from end‐of‐life sources and supporting domestic secondary supply chains.

✅ In January 2026, the U.S. Department of Energy awarded Blue Whale Materials a $55 million grant to expand its lithium‐ion battery recycling facility in Oklahoma, accelerating advanced metal recovery processes and scaling up domestic recycling infrastructure for battery metals.

✅ In January 2026, the U.S. Department of Energy awarded AMERMIN an $11.5 million grant to scale tungsten carbide recycling processing, boosting technology capabilities to recover and reuse hard metal components from industrial materials.

✅ In November 2025, Century Recycling announced plans to build a $50 million aluminum recycling plant in Mission, Texas, marking a significant expansion project in metal scr@p processing that will create jobs and improve regional circular economy infrastructure.

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Japan: Recent Industry Developments

✅ In February 2026, Japanese recycling news reported funding and expansion for an emerging aluminium recycling startup, indicating increased capital backing to scale demonstration‐level recycling operations in non‐ferrous metals.

✅ In January 2026, Shimizu Steel obtained scr@p yard ordinance approval in Chiba Prefecture, enabling improved quality control and environmental systems for iron and steel scr@p collection and processing.

✅ In early February 2026, non‐ferrous metal scr@p recycling efforts in Japan expanded as aluminium recycling initiatives progressed toward larger‐scale demonstrations, reinforcing momentum in metal scr@p reprocessing across the country.

✅ In late January 2026, Ni‐based stainless steel scr@p markets showed strengthening supply dynamics, reflecting active trading and recovery of high‐grade alloy scr@p that supports secondary metal availability for Japanese steel and recycling firms.

Key Players:

=> Gerdau S/A, Nucor, Commercial Metals Company, Steel Dynamics, Schnitzer Steel Industries, Inc., River Metals Recycling, ArcelorMittal, Aurubis AG, Dowa Holdings Co. Ltd and Novelis Inc.

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Key Segments:

By Metal

Ferrous Metals dominate with 60% share, driven by high demand for steel recycling in construction, automotive, and heavy industries. Non-Ferrous Metals account for 40%, fueled by aluminum, copper, and other metals used in electrical equipment, aerospace, and packaging applications.

By Scr@p

Old Scr@p holds 55% share, reflecting recycling from end-of-life vehicles, decommissioned machinery, and demolition waste. New Scr@p represents 45%, generated during manufacturing processes, industrial production, and fabrication of metal products.

By Mode of Recycling

Shearing accounts for 20%, primarily used in cutting sheet metals and plates for reuse. Shredding leads with 30%, driven by large-scale recycling operations for ferrous and non-ferrous metals. Baling holds 15%, supported by efficient storage and transportation of scr@p metals. Torching represents 10%, used in dismantling and recovery of metals from heavy equipment. Crushing makes up 25%, applied in automotive, construction, and industrial machinery scr@p processing.

By End User

Automotive dominates with 25% share, driven by recycling of end-of-life vehicles and production of lightweight components. Aerospace accounts for 10%, reflecting the high value of aluminum and specialty metal recovery. Electrical and Electronic Equipment holds 15%, fueled by e-waste recycling and recovery of copper, aluminum, and precious metals. Shipbuilding represents 10%, supported by decommissioning and recycling of vessels. Construction and Infrastructure accounts for 20%, driven by steel and metal reuse in buildings and industrial projects. Industrial Machinery and Products hold 10%, while Packaging Industry makes up 5%. Others represent 5%, including mining equipment and specialty applications.

By Region

North America - 30% Share
North America leads with 30%, supported by established recycling infrastructure, stringent environmental regulations, and large-scale industrial and automotive metal reuse in the U.S. and Canada.

Europe - 25% Share
Europe holds 25%, driven by recycling mandates, circular economy policies, and strong automotive and industrial base in Germany, U.K., France, Italy, and neighboring countries.

Asia Pacific - 35% Share
Asia Pacific accounts for 35%, fueled by rapid industrialization, construction growth, automotive production, and strong demand for recycled metals in China, India, Japan, South Korea, and Southeast Asia.

South America - 5% Share
South America represents 5%, driven by infrastructure development, automotive scr@p recycling, and industrial growth in Brazil, Mexico, and Argentina.

Middle East & Africa - 5% Share
The Middle East & Africa hold 5%, supported by metal recycling in construction, mining, and oil & gas industries across GCC countries, South Africa, and neighboring regions.

FAQ

What is the current size of the Metal Recycling Market?

A: In 2022, the Metal Recycling Market was valued at US$ 54.5 billion , reflecting its strong industry presence.

Q2: How large is the Metal Recycling Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Metal Recycling Market will grow to around US$ 92.2 billion, demonstrating significant expansion.

Q3: What is the growth rate of the Metal Recycling Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2024 to 2031.

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