Recycled Copper Market

The Global Recycled Copper Market was estimated at USD 238.61 billion in 2022, and it is expected to reach a revised size of USD 330.83 billion by 2028, with a CAGR of 5.88% over the foreseen period of 2023 - 2028.

Copper recycling uses scrap copper gathered from various sources as a raw material. To create recycled copper, metallic copper scrap is sorted and put through multiple processing steps. Building materials, electronics, and electrical products scrap, as well as scrap from automotive and building materials, are the main sources of metallic copper scrap. The demand for recycled metals on the world market is expected to reach 825,50 million tons in 2020. Due to its affordability and energy efficiency during manufacture, recycled copper is growing in popularity. Companies in the recycled copper sector are primarily concerned with electrical and wire applications since recovered copper still has electrical conductivity. Many electrical systems have been shown to operate more efficiently when using recycled copper.

Additionally, copper recycling uses a lot less energy than producing copper from scratch. As a result, firms in the recycled copper market are looking into value recovery opportunities outside of the electronics industry in order to increase their revenue streams.

Market Drivers and Restraints:

Copper Global Recycle The market is growing as a result of a greater focus on secondary metal production due to environmental issues like energy use and trash management. Copper is used in a wide variety of high-tech items, electrical installations, motors, solar panels, and smart buildings, all of which are essential to modern living. Since copper is frequently recycled without losing its chemical and physical qualities, cabling and electrical infrastructure are two important revenue-generating industries for recycled copper. In the upcoming years, the construction sector is anticipated to grow as a result of the rapid urbanization and industrialization in the Asia Pacific and the Middle East. This will have a stronger effect on metal demand.

As a result of rigorous regulations and ongoing technological advancements, the rate of metal recycling is projected to increase, which will contribute to significant market growth over the course of the projection period. Many electrical systems have been shown to operate more efficiently when using recycled copper. The energy required for copper recycling is significantly lower than for producing new copper. As a result, firms in the recycled copper market are looking into value recovery opportunities outside of the electronics industry in order to increase their revenue streams. The design and performance of electric vehicles have improved because to technical advancements. The transportation sector of the Asia-Pacific recycled copper market is anticipated to grow as a result in the near future.

The extent of the market for recovered copper will be hampered for years to come by an ineffective recycling process. For instance, more than 40% of the overall production of ferrous metals is recycled. This is a result of a recycling process that is ineffective and machinery that is unable to extract scrap from the overall amount of waste produced.

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The report is segmented as follows:

The Solar Energy and Battery Storages Market is segmented by Application; the Market is segmented by Copper Scrap Grade; the Market is segmented by Installation:

By Application (Building and Construction, Transportation, Industrial Machinery and Equipment, Electricity and Electronics, and Others)

By Copper Scrap Grade (Bright Bare Copper, Number 1 Copper, Number 2 Copper and Number 1 Insulated Wire)

Geographical Segmentation:

The market for recycled copper has been segmented by continent, with North America, Europe, Asia-Pacific, Latin America, and Central and Africa making up the majority of the market. In 2020, Asia-Pacific will control the worldwide market. China has a significant role in the production of electronic goods. The electronics market in China has grown as a result of the rising demand for recycled copper on the global electronics market, which is being driven by rapid urbanization and better quality of life. China intends to invest a substantial amount—US$2.7 trillion—in transportation and infrastructure, which would afterward have a favourable effect on the demand for metals and is therefore likely to make a big contribution.

Europe holds a significant portion of the worldwide market for recycled copper when considering the size of the market for recycled metals on time. In 2020, Germany accounted for a sizable portion of the European market for recycled copper. Throughout the projected period, it is anticipated to be the European nation with the highest copper consumption.

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Impact of COVID-19 pandemic on the market:

During the COVID-19 pandemic, both the supply and demand for recycled copper have suffered significantly. The expansion of the market for recycled copper has also been hampered by the simultaneous slowdown in the world manufacturing sector. In order to evaluate the demand for and supply of copper in the upcoming months, US-based recycling organizations are hosting a number of online events. Companies in the recycled copper market are getting pace in their ideas to carry on functioning in a field that is slowly expanding thanks to virtual events. In order to sustain operations and boost worker morale in industrial facilities, recycling organizations are quite optimistic about the introduction of intermediate vaccinations or antidotes. However, it has been discovered that the automobile industry's demand for recycled copper is progressively declining. Therefore, recycling businesses maintain flexible and reliable supply chains to prevent supply shocks in crucial application industries like wiring and electronics.

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