Global recycled copper market is expected to foresee significant growth. Asia Pacific to lead the growth!

Global recycled copper marketexpected to grow at a CAGR of around 4% during the forecast period (2021-2027). As copper is among the most valuable metals available when it comes to scrap collection and recycling. With an infinite recyclable life, copper is used and reused in motors, computers, construction, industrial machinery and more. However, the prices of the copper depend largely on the grade of scrap copper. As different recycling centers and scrap dealerships tend to have their own prices based on their own classifications for their best prices. Moreover, the demand for copper has increased in several industries over the years with a major part of the demand coming from industries like building construction, power generation, and transmission, electronic product manufacturing, and the production of industrial machinery and vehicles. Hence, escalating the market size of recycled copper across various region.

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Recycled copper is gaining popularity, owing to its cost efficiency since the production process consumes much less energy. Wiring and electrical applications are the key focus point for companies in the recycled copper market since recycled copper retains its electrical conductivity. The rising awareness about the advantages posed by recycled copper has fueled the adoption rate of recycled copper in various industries.

The key factors expected to be driving the market during the forecast period is that the use of recycled copper diminishes the requirement of a new landfill for the copper to be disposed of, which has proven to be a lot more beneficial for large industries and has proved to be an efficient way to reduce operational costs.

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The coronavirus pandemic declared as public health emergency worldwide by World Health Organization (WHO). Government across nations implemented lockdown and ban on travelling, shutdown of manufacturing industries, commercial activities this had severely disrupted the supply chain. The corresponding downturn in the global manufacturing sector has further affected the growth of the recycled copper market. The shortage in manufacturing of new electric appliance and electronic goods due to shutdown of work and low workforce capacity had also impacted the market.

In addition, the building and construction activities across the region were put on halt during the surge in the number of Coronavirus cases has also impacted the market size of recycled copper market. Moreover, with the help of virtual events, companies in the recycled copper market are gaining ideas of buoyancy to continue business in a slow growing market. However, in the long run the market is expected to have significant growth rate owing to the surging automobile industry coupled with growing electronic good manufacturers in China is propelling the market size recycled copper.

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Based on copper scrap grade, the recycled copper market is segmented into bare bright copper, # 1 copper, # 2 copper, # 1 insulated wire and others. The bare bright copper segment catered significant demand in recycled copper market. Bare bright copper is by far the first among the types a scrap dealer would like to find owing to its bright & shiny color texture. Moreover, it is valued at high price and considered as most valuable product in the scarp.

Based on application, the recycled copper market is segmented into building & construction, transportation, industrial machinery & equipment, electrical and electronics and others. The electrical and electronics segment holds the considerable market share in recycled copper market. As recycled copper is employed in a wide range of applications in power generation, distribution, and transmission industry, due to its high electric and thermal resistance.

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For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, Spain, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Asia Pacific holds the extensive market share owing to the surging electronic manufacturers in China coupled with increasing demand for recycled copper in construction and power generation, distribution & transmission industries is anticipated to positively impact the market in the region.

Some of the major players operating in the Aurubis AG, Commercial Metals Company, Schnitzer Steel Industries, Inc., Umicore N.V., Kuusakoski Group Oy, Sims Metal Management Ltd., OmniSource, LLC, Elgin Recycling, Pacific Metal Pty Ltd, Universal Recycling. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

Global Recycled copper Market Segmentation

Market Insight, by Copper Scrap Grade

• Bare Bright Copper
• # 1 Copper
• # 2 Copper
• # 1 Insulated Wire
• Others

Market Insight, by Application

• Building & Construction
• Transportation
• Industrial Machinery & Equipment
• Electrical & Electronics
• Others

Market Insight, by Region

• North America Recycled Copper Market
  • United States
  • Canada
  • Rest of North America
• Europe Recycled Copper Market
  • Germany
  • United Kingdom
  • Spain
  • Italy
  • France
  • Rest of Europe
• Asia-Pacific Recycled Copper Market
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World Recycled Copper Market

Top Company Profiles

• Aurubis AG
  • Commercial Metals Company
  • Schnitzer Steel Industries, Inc.
  • Umicore N.V.
  • Kuusakoski Group Oy
  • Sims Metal Management Ltd.
  • OmniSource, LLC
  • Elgin Recycling
  • Pacific Metal Pty Ltd
  • Universal Recyclingz