Major trends in the global recycled metal market include innovative solutions for resource scarcity and carbon reduction. Key sectors driving growth are construction and electronics. Asia Pacific leads in market size, with Western Europe and Asia Pacific being the fastest-growing regions. Companies such as Sims Metal Management and Radius Recycling are leading players. Emphasizing advanced technology and partnerships can help capitalize on emerging opportunities in the recycled metal industry.
Recycled Metal Market
Dublin, Sept. 02, 2025 (GLOBE NEWSWIRE) — The “Recycled Metal Market Opportunities and Strategies to 2034” report has been added to ResearchAndMarkets.com’s offering.
This report describes and explains the recycled metal market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global recycled metal market reached a value of nearly $ 71.96 billion in 2024, having grown at a compound annual growth rate (CAGR) of 1.81% since 2019. The market is expected to grow from $71.96 billion in 2024 to $100.72 billion in 2029 at a rate of 6.95%. The market is then expected to grow at a CAGR of 7.39% from 2029 and reach $ 143.84 billion in 2034.
Growth in the historic period resulted from the strong economic growth in emerging markets, increasing automotive industry, increasing usage of steel in end-user industries and favorable government support. Factors that negatively affected growth in the historic period are stringent regulations.
Going forward, rising construction activities, increasing urbanization, increasing infrastructure development and growth in the aerospace sector will drive the growth. Factor that could hinder the growth of the recycled metal market in the future include skilled labor shortages.
The global recycled metal market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 21.75% of the total market in 2023. Sims Metal Management Limited. was the largest competitor with a 9.13% share of the market, followed by Radius Recycling, Inc. (formerly Schnitzer Steel Industries, Inc.). with 3.42%, Chiho Environmental Group. with 3.03%, Alter Trading Corporation. with 2.13%, European Metal Recycling Ltd. with 1.08%, Befesa SA. with 0.95%, Paprec Group. with 0.83%, Enviri Corporation (formerly Harsco Corporation). with 0.42%, OmniSource Corporation. with 0.42% and Stena Metall AB. with 0.35%.
Asia Pacific was the largest region in the recycled metal market, accounting for 56.10% or $40.37 billion of the total in 2024. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the recycled metal market will be Western Europe and Asia Pacific where growth will be at CAGRs of 8.54% and 7.23% respectively. These will be followed by South America and North America where the markets are expected to grow at CAGRs of 6.91% and 6.45% respectively.
Market-trend-based strategies for the recycled metal market include developing innovative solutions for resource scarcity and low-carbon metal demand, focus on cutting-edge steel recycling facilities to reduce carbon emissions, focus on enhancing the metal market with a focus on purity and sustainability and focusing on the new partnership to accelerate aluminum and copper recycling.
Player-adopted strategies in the recycled metal market include focus on mergers and acquisitions to expand its market presence, focus on product innovation and expanding its recycled metal offerings to enhance sustainability and focus on strategic partnerships to enhance its recycling capabilities and expand its market reach.
To take advantage of the opportunities, the analyst recommends the recycled metal companies to focus on investing in advanced recycling technologies to meet low-carbon metal demand, focus on investing in advanced steel recycling facilities, focus on advancing purity and sustainability through technology, focus on aluminum to capture high-growth opportunities, expand in emerging markets, continue to focus on developed markets, focus on expanding regional access through strategic partnerships, focus on value-based pricing to align with sustainability and cost advantages, focus on expanding digital presence and sustainability messaging, focus on partnerships and certifications to build credibility and focus on engaging sustainability-conscious consumers in electronics and consumer goods.
Major Market Trends