Increased demand for copper in a variety of industries, including transportation, construction, and irrigation, as well as electrical, industrial machinery, other technology is driving the global copper scrap market.
It’s being expected that by 2030, the Copper Scrap market cap will hit USD 900.6 million at a CAGR growth of about 4.2 %.
COVID-19 Impact and Market Status
When analysing these unanticipated demand patterns, companies that are expanding rapidly capability to meet COVID-induced need must take prudence. Post-pandemic changes of social, institutional, economic, and political situations, as well as projected environmental regulatory improvements, will alter the Copper Recycling Market economy from 2022 to 2029. The copper scrap economy witnessed varied results for various applications and geographies during COVID 19. The report investigates the pandemic's segment-specific consequences and gives various development scenarios for the Copper Scrap Industry until 2029.
Rather than increasing product characteristics, the Copper Scrap Market has seen a major increase in customising goods to fit a specific use. Businesses could embrace digitally linked skills by focusing on organisational effectiveness, varied supply, and cost control to produce potential in the Copper Scrap Business over the forecast period.
With such a clear update of a product range and a clear long-term plan with theory building, copper scrap market participants can handle this ambiguity whilst catering to a market's brief needs. Investing in technology, discovering creative applications, and developing clever business models are successful strategies in the emerging Copper Scrap Industry. The study covers in-depth profiles of the top companies with in Copper Scrap Sales value chain, but also their short, middle, and hard plans.
Copper Alloys Segment Experienced More Growth
Global Copper Scrap Market is classified into copper and copper alloys on the basis of type. Among these, the copper alloys segment experienced more growth in global copper scrap market owing to factors like increased copper alloys products manufacturing leading to increased scrap.
Electrical And Electronics Segment Experienced More Demand
Global Copper Scrap Market is classified into transportation, construction and plumbing, electrical and electronics, industrial machinery and equipment on the basis of industry. Among these, electrical and electronics segment experienced more demand for copper. As copper is malleable ductile and a good conductor of electricity it is in more demand in the electrical industry.
Europe is A Significant Region for C&A and M&A Activities Associated with Copper Scrap
The Copper Waste All of these regions' existing markets are being constrained by near-saturated consumption in Europe and a considerably slower rate of increase in China that after several years of remarkable expansion. But at the other hand, the speedy recovery from poor countries following COVID's effects is expected to enhance demand in copper scrap. The study examines Copper Scrap Valuations, production, demand, the regional trade analysis to forecast worldwide Copper Scrap Market sales in 2022. The Copper Scrap Market research covers customer base, penetration, and price volatility for different kinds, applications, and geographies from 2022 to 2029.
The copper scrap is sustainable, can be melted down and converted into a new product. Also, copper scrap made products are less expensive than copper materials processed and manufactured from new materials. The copper has sustainable life span and thus the copper scrap leaves no garbage waste making it environment friendly. Owing to these benefits, the copper scrap is in more demand fostering remarkable progress in global copper scrap market.
The global copper scrap market is expected to reach 8.1 billion US dollars by 2029 with an annualized growth rate of 3.8 % through the forecast span 2022-2029.
Copper recycling, which is a crucial component of the linear economy, will aid the establishment of a low-cost worldwide trade in the next decades. Copper scrap is a scrap which has been re-purposed. Copper scrap can be recycled and reprocessed into new products, or it can be melted down to make copper wire and some other metal alloys. When a substance degrades to the point of being "scrap," its value drops as can no longer be used at the same elevated amounts.
Increasing copper recycling of final goods and process waste provides a long alternative for reducing global dependency on primary ore in the face of rising copper end-use demand. Copper is used in a range of applications & sectors due to its beneficial features, which are mostly related to electrical properties, but somehow it is also one of the few materials that can be recycled multiple times without losing effectiveness. According to scientific literature, copper scrap accounts for just 12.5 percent of the entire environmental impact created by the primary copper production process. During the smelting & processing processes, scrap consumes less fuel and generates less greenhouse gases.
Some of the major companies in global copper scarp market are Kuusakoski, Jansen Recycling Group, HKS Metals, European Metal Recycling (EMR), Enerpat, Commercial Metals (CMC), Aurubis, Trademark Metals Recycling, Reukema, OmniSource Corporation, and Olin Brass among others. Copper scrap market participants are adapting their marketing strategies to match the new standard by emphasizing on digitization and adopting emerging technologies such as autonomous machine learning and ai. Over the forecast period, top Copper Scrap Industry companies will continue to merge to get new technology, expand their portfolios, and maximise their skills.
Innovation for Copper Scrap Market
- Nucor Corporation, a leading manufacturer of steel and copper related products, announced the acquisition of Grossman Iron & Steel Company in September 2021, to enhace the efficiency and production capacity for metal products and bring the desired results.
- In recent years several countries are initiating copper recycling to improve availability from end-of-life substances to prome waste recycling and manage production costs. In this regard, the developing world countries such as India is well ahead in the game and the government is undertaking stern steps to encourage copper production from scrap. According to NITI Aayog, India is one of the primary importers of copper to substantiate copper dependent industrial needs. Therefore, to reverse it, and align with Copper Industry Convention: Vision 2030 & 2047, copper production from scrap is expected to claim much resource and attention thus paving new growth windows for the global copper scrap market.
Copper Scrap Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 8.1 billion.|
|Growth Rate||CAGR of 3.8% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Kuusakoski, Jansen Recycling Group, HKS Metals, European Metal Recycling (EMR), Enerpat, Commercial Metals (CMC), Aurubis, Trademark Metals Recycling, Reukema, OmniSource Corporation & among others.|
Key Segments of the Global Copper Scrap Market
Type Overview, 2019-2029 (USD Billion)
- Copper alloys
Application Overview, 2019-2029 (USD Billion)
- Electrical and Electronics
- Industrial Machinery and Equipment
Regional Overview, 2019 -2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa