United States Recycled Metal Market Reached US$ 2.5 Billion with 8.1% CAGR | Ferrous Metals Hold Highest Share | Key Players: Nucor Corporation, ArcelorMittal

The Recycled Metal Market reached US$ 2.5 billion in 2023 and is expected to reach US$ 4.7 million by 2031, growing with a CAGR of 8.1% from 2024 to 2031.

Growth is supported by increasing demand across key applications such as construction, automotive, electronics & electricals, industrial machinery, and others, driven by sustainability initiatives, cost-efficiency advantages, and circular economy strategies. Recycled metals (both ferrous and non-ferrous) are increasingly employed to reduce reliance on primary metal extraction, cut production costs, and lower environmental impact, fostering broad adoption across sectors globally.

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Recycled Metal Market: Competitive Intelligence
ArcelorMittal, Nucor Corporation, Commercial Metals Company (CMC), Sims Limited, Aurubis AG, Novelis Inc., Tata Steel Recycling, EMR Metal Recycling, Schnitzer Steel Industries, and others.

The Recycled Metal Market is strongly driven by leading players such as ArcelorMittal, Nucor Corporation, Novelis Inc., Sims Limited, and Aurubis AG, who supply high-quality recycled ferrous and non-ferrous metals for construction, automotive, packaging, electronics, and industrial manufacturing. Their advanced recycling technologies enable efficient metal feedstock processing, lower carbon emissions, significant energy savings, and cost-effective raw material supply, supporting sustainability goals across end-use industries.
These companies' complementary strengths-large-scale steel recycling from ArcelorMittal and Nucor, aluminum recycling leadership from Novelis, global metal recovery and collection networks from Sims and EMR, and high-purity copper recycling from Aurubis-are accelerating market growth. Strategic focus areas include capacity expansions, digital material sorting, low-carbon metal production, and partnerships aligned with circular economy and ESG mandates, strengthening competitiveness in construction steel, lightweight automotive materials, and sustainable packaging applications.

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Recent Key Developments - United States
✅ March 2025: Toyota Tsusho America completed acquisition of Radius Recycling for approximately USD 1.34 billion to expand recycling capabilities and sustainable metal supply for the automotive sector, strengthening closed-loop material systems.
✅ July 2025: Nucor Corporation announced a new initiative in Texas to build a $400 million net-zero emissions recycled steel plant, aimed at serving automotive and infrastructure segments and expected to begin operations by 2026, creating significant employment.
✅ June 2025: Commercial Metals Company received federal incentives under the Green Manufacturing Act for sustainable recycling operations that now incorporate over 90% recycled metal content in rebar production, reflecting strong policy support for circular manufacturing.

Recent Key Developments - Japan
✅ June 2025: Schnitzer Steel Industries partnered with a Japanese automaker to co-develop recycled aluminum parts for electric vehicles, supporting lightweighting and resource-efficient manufacturing aligned with Japan's circular economy initiatives.
✅ May 2025: The Ministry of the Environment (Japan) introduced guidelines mandating minimum recycled content for public infrastructure projects, boosting demand for secondary metals in construction and engineering applications.
✅ June 2025 (Industry Forum): The 2025 SMM Global Secondary Metals Industry Summit Forum concluded in Bangkok with widespread participation from Japanese and global recyclers, focusing on innovations in metal recycling and circular supply chains.

M&A & Strategic Expansion
• Kuusakoski Group Oy expands non-ferrous sourcing
In June 2025, Kuusakoski Group strengthened its non-ferrous metal collection footprint in Eastern Europe through the acquisition of a regional metal recovery company, enhancing feedstock availability and processing throughput.
• Commercial Metals Company (CMC) strategic merger
In May 2025, CMC finalized a merger with a U.S. ferrous recycling company to secure a consistent recycled metal supply and boost recycling throughput for its Electric Arc Furnace (EAF) operations.
• Schnitzer Steel Industries facility acquisition (Japan)
In April 2025, Schnitzer Steel announced the acquisition of a metal processing facility in Japan, marking its entry into the Asian recycled metal market.

Product Launches & Material Innovations
• Novelis 100% recycled automotive aluminium coil
March 2025: Novelis unveiled the industry's first aluminium coil made entirely from end-of-life automotive material. This product meets surface quality and performance standards for automotive body applications, advancing circular metal use in vehicles.
• Blockchain traceability platform by Sims Metal Management
May 2025: Sims introduced a blockchain-based system to authenticate recycled content across supply chains, boosting transparency, regulatory compliance, and sustainability reporting.
• ArcelorMittal closed-loop recycling solution with AI technology
July 2025: ArcelorMittal rolled out a closed-loop recycling initiative in Europe that integrates AI-based material sorting to improve recovery efficiency by 18%.

R&D, Facility Expansion & Technological Advancements
• Novelis opens Ulsan Aluminum Recycling Center
April 2025: Novelis invested $65M in a new recycling center in Ulsan (a joint venture with Kobe Steel), featuring 100,000 t annual capacity for low-carbon aluminum sheet ingot production from recycled aluminum feedstock, strengthening circular supply chains.
• ArcelorMittal launches advanced low-carbon steel offerings 2025: ArcelorMittal expanded its XCarb® recycled & renewable steel product portfolio, including low-emission steel for circular construction and shipbuilding (via a strategic MoU with PONANT EXPLORATIONS GROUP). This demonstrates integration of recycled metal into higher-value, low-carbon applications.
• Novelis & DRT joint development for uni-alloy drink can ends August 2025: Novelis entered a technical collaboration with DRT to develop beverage can ends with up to 99% recycled aluminium, enhancing sustainability and recyclability throughout the metal packaging cycle.

Segment Covered in the Recycled Metal Market
By Type
The market is segmented into Ferrous Metal (65%) and Non-Ferrous Metal (35%), with ferrous metals dominating due to high recycling volumes of steel and iron from construction, infrastructure, and automotive end-of-life materials. Ferrous metals benefit from established collection systems, cost efficiency, and strong demand from electric arc furnace (EAF) steel production. Non-ferrous metals, including aluminum, copper, lead, and zinc, are witnessing faster growth driven by lightweighting trends, electric vehicles, renewable energy systems, and electronics manufacturing. Increasing focus on high-value metal recovery and energy savings supports growth across both segments.
By Application
Applications include Construction 35%, Automotive 25%, Electronics & Electricals 15%, Industrial Machinery 15%, and Others 10%, with construction dominating due to extensive use of recycled steel and aluminum in buildings, infrastructure, and urban development projects. Automotive applications are expanding rapidly as OEMs increase recycled metal content to meet emission regulations and sustainability targets. Electronics & electricals benefit from rising recovery of copper and aluminum from e-waste. Industrial machinery relies on recycled metals for cost-effective manufacturing, while other applications include packaging, consumer goods, and shipbuilding. Circular economy initiatives and green manufacturing policies drive adoption across applications.

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By Region
North America - 30% Share
North America leads with a 30% market share, supported by advanced recycling infrastructure, high availability of recovered metal feedstock, and strong demand from the construction and automotive industries. The U.S. dominates the region with widespread adoption of electric arc furnace (EAF) steelmaking and aluminum recycling. Ferrous metals account for the largest share, while non-ferrous recycling is growing in automotive and electronics applications. Stringent environmental regulations and corporate decarbonization goals continue to support steady market growth.

Europe - 25% Share
Europe holds 25% share, driven by strict environmental regulations, high recycling rates, and strong circular economy policies across Germany, the U.K., France, and Italy. Construction and automotive sectors dominate demand, with increasing use of recycled aluminum and steel in lightweight vehicles and green buildings. Advanced sorting technologies and low-carbon metal initiatives support growth. EU sustainability mandates accelerate adoption of recycled metals across industries.

Asia Pacific - 30% Share
Asia Pacific accounts for 30% share, supported by rapid industrialization, urbanization, and high metal consumption in China, India, Japan, and Southeast Asia. Construction and industrial machinery are major application areas. Automotive and electronics recycling are expanding rapidly due to EV growth and rising e-waste volumes. Government investments in recycling infrastructure and increasing awareness of resource efficiency drive strong market expansion.

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