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

Regional Analysis

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Dominating Region- Asia Pacific

Asia Pacific is expected to dominate the global recycled copper market in 2024 with an estimated market share of 48.7%. The regional market growth is driven by robust government recycling policies such as the National Development and Reform Commission (NDRC), rapid industrialization, and large-scale infrastructure projects. The region's surging copper demand can boost the adoption of recycled copper.

Fastest-Growing Region- North America

North America region exhibits the fastest growth with major industrial hubs in the U.S. and Canada. North America boasts a sizable presence across sectors such as construction, electronics, and power generation - key end users of recycled copper. Major companies in the region have also significantly invested in recycling facilities and operations over the years.

Recycled Copper Market Outlook for Key Countries

Advanced Recycling Technologies Drive Growth in the U.S. Recycled Copper Market

The U.S. market is dominated by large recyclers leveraging advanced sorting and processing technologies. The U.S. has a well-established recycling infrastructure, with recycled copper playing a crucial role in industries such as construction, automotive, and electronics. The emphasis on sustainability and circular economy practices drives the market growth. In 2022, the U.S. exported approximately 864,237 metric tons of copper scrap, reflecting a 2.5% increase from 2021.

China's Expanding Copper Recycling- Meeting Domestic Demand and Global Ambitions

China's market exhibits high potential due to the country's enormous postwar rebuilding programs and manufacturing sector. Chinese firms are also strengthening their global copper recycling footprint. As the world's largest consumer of copper, China has been intensifying its recycling efforts to meet domestic demand and reduce environmental impact. In November 2024, China's recycled copper volume is projected to rise from 2.5 million tons to 2.7 million tons, with expectations to reach 3.5 million tons by 2030.

Canada's Growing Recycled Copper Market Due to Sustainability and Policy-Driven Expansion

Canada's recycled copper market is experiencing significant growth, bolstered by governmental policies that promote recycling and environmental conservation. The country's robust mining sector ensures a steady supply of scrap copper for recycling, and Canadian manufacturers are increasingly incorporating recycled copper into their products to meet sustainability goals. For instance, in 2022, Canada exported US$ 892 million worth of scrap copper, making it the 11th largest exporter globally. The primary destinations for these exports were the U.S. (US$ 395 million), China (US$ 309 million), Germany (US$ 54.5 million), and India (US$ 24.5 million).

Japan's Leadership in Copper Recycling- Innovation and Resource Efficiency in a High-Tech Economy

Japanese companies have made significant investments in innovative copper scrap recycling methods to enhance resource security for their high-tech economy. Japan’s advanced technological sector, coupled with stringent environmental regulations, has fueled the market growth. The nation places a strong emphasis on efficient resource utilization and has developed highly sophisticated recycling systems. Key industries such as Mitsubishi Materials Corporation and Pan Pacific Copper Co., Ltd., including electronics and automotive, serve as major consumers of recycled copper, driving the demand in the region.