Scrap Metal Recycling Market Size and trends
The global scrap metal recycling market is estimated to be valued at USD 63.66 Bn in 2025 and is expected to reach USD 93.90 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 5.7% from 2025 to 2032.
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There is an increasing demand for scrap metals like iron, copper, aluminum, and others from end-use industries like construction, automotive, shipbuilding, aerospace, etc. Rapid industrialization and urbanization in developing regions are driving more construction activities which require scrap metals as raw materials. Also, stringent government regulations regarding proper disposal of waste and promotion of recycling is promoting the collection and processing of scrap metals. Many developed countries such China and Japan have policies to mandate the minimum use of recycled content in products.
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