The Copper Scrap Market is experiencing substantial growth, with the global market expected to reach USD 84900 Million by 2030, showing a CAGR of 4.3% from 2024 to 2030. This growth is primarily driven by the increasing demand for affordable and sustainable raw materials across various industries such as electronics, manufacturing, and construction.
The utilization of recycled copper waste is gaining momentum due to its lower environmental impact and energy consumption compared to mining fresh copper. Additionally, government regulations promoting recycling and the circular economy are further fueling the expansion of the copper scrap market.
One of the key factors influencing market growth is the widespread use of copper in the transportation industry, especially in electric vehicles (EVs) where copper is utilized in electrical components, wiring, motors, and batteries. The construction sector also significantly contributes to the demand for copper due to its properties like strength, electrical conductivity, and corrosion resistance.
The Asia-Pacific region currently holds a dominant share in the global copper scrap market, driven by countries like China, India, Japan, and South Korea, which are experiencing rapid industrialization and urbanization. Key players in the market include Jansen Recycling Group, Aurubis, Commercial Metals, and Sims Metal Management, among others.
Overall, the increasing demand for copper across various industries and the focus on sustainability are propelling the growth of the copper scrap market, making it an attractive investment opportunity for stakeholders in the industry.
