RECYCLED COPPER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Takeaways from Analyst

This market growth is driven by rising copper scrap availability due to growth in end-use industries and increasing environmental concerns regarding sustainable raw material procurement. Copper scrap has also gained significance as its recycling process significantly reduces mining of virgin ore. However, fluctuating copper prices and oversupply in the market remains a long-term challenge.

Asia Pacific currently dominates recycled copper consumption due to high industrial activity and presence of mature recycling infrastructure. Meanwhile, North America is likely to emerge as the fastest growing regional market, due to growing importance of sustainable development and recycling initiatives being taken by U.S. and Canada and other developing nations in the region.

In terms of application, construction segment is expected to continue leading copper consumption from recycling amid increase in infrastructure development and construction activities globally. Transportation will also showcase noteworthy demand due to increased vehicle production. Other key application areas include industrial machinery and equipment manufacturing.