Metal Recycling Market Growth: US$54.5 Bn in 2022 To US$92.2 Bn By 2031 | CAGR 6.8% Forecast

The Global Metal Recycling Market is projected to grow from US$ 54.5 Billion in 2022 to US$ 92.2 Billion by 2031, driven by a 6.8% CAGR during 2024–2031.

AUSTIN, TX, UNITED STATES, June 26, 2025 /EINPresswire.com/ -- The Global Metal Recycling Market Size was valued at US$ 54.5 Billion in 2022 and is projected to grow steadily, reaching approximately US$ 92.2 Billion by 2031, with an expected compound The market is expected to expand at a steady annual growth rate of 6.8% between 2024 and 2031.

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Market Latest Developments

In June 2023, South Africa’s metal recycling industry association warned that the government's ban on metal scrap exports introduced to combat copper theft has inadvertently led to the rise of illegal cartels, posing a serious threat to the country's metal recycling sector.

In July 2023, the GSMA, the global association representing telecom operators, unveiled its initiative to expand mobile phone take-back programs by 2030. Under this plan, metals and other valuable components from collected devices will be recycled and reused, promoting sustainability across the telecom industry.

In February 2023, India introduced a significant tax revision by lowering the Goods and Services Tax (GST) on recycled steel scrap from 18% to 5%. This move is expected to offer significant relief to domestic recycling firms and stimulate growth in the Indian steel recycling market.

Regional Outlook

North America

North America, particularly the United States, is anticipated to maintain a leading position in the global metal recycling industry. Infrastructure modernization, rising automotive recycling rates, and strong public awareness campaigns have contributed to high metal recovery rates. Recent tax incentives for green industries and federal infrastructure bills are also encouraging companies to adopt recycled materials across construction and manufacturing sectors.

Europe

Europe continues to lead the world in sustainability practices. Countries like Germany, the Netherlands, and Sweden have invested in smart sorting and waste management systems that allow for greater volumes of recycled metal. The European Union’s Green Deal and the Circular Economy Action Plan are expected to further support the growth of this market in the region.

Asia-Pacific

Asia-Pacific is the fastest-growing region, led by China, India, Japan, and South Korea. The rising activity in the construction and automotive sectors is driving a strong increase in the demand for recycled or secondary metals.Japan, in particular, has developed sophisticated e-waste recycling systems, while China is rapidly upgrading its domestic recycling capabilities following import bans on foreign scrap materials.

Key Players in the Market

Some of the major companies actively shaping the future of metal recycling include:

Gerdau S/A

Nucor

Commercial Metals Company

Steel Dynamics

Schnitzer Steel Industries, Inc.

River Metals Recycling

ArcelorMittal

Aurubis AG

Dowa Holdings Co. Ltd

Novelis Inc

Market Segmentation:

By Metal: Ferrous Metals, Non-Ferrous Metals

By Scrap: Old Scrap, New Scrap

By Mode of Recycling: Shearing, Shredding, Baling, Torching, Crushing

By End User: Automotive, Aerospace, Electrical and Electronic Equipment, Shipbuilding, Construction and Construction, Industrial Machinery and Products, Packaging Industry, Others

By Region: North America, South America, Europe, Asia Pacific, Middle East, and Africa

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Latest News from the USA

In 2025, the U.S. has seen a surge in investments aimed at modernizing scrap processing facilities. Major recycling hubs in Ohio, Texas, and Pennsylvania are undergoing major technology upgrades to handle increased volumes of electronic and industrial waste.

A significant development came when a leading American steel producer announced plans to build a $1.2 billion metal recycling and steel production plant in the Midwest. This facility is expected to produce low-emission steel for use in the automotive and construction industries, aligning with federal decarbonization targets.

Additionally, legislation at the state level is pushing for minimum recycled content in construction projects. California and New York have already passed such laws, and several other states are expected to follow suit in 2025.

On the tech side, U.S.-based startups are developing AI-driven robotic arms that can sort metals faster and more accurately than traditional systems. These innovations are being tested in pilot plants across the country and are expected to become mainstream by late 2025.

Latest News from Japan

Japan continues to lead Asia in terms of recycling innovation. In early 2025, a prominent Japanese electronics manufacturer unveiled a program to collect and recycle rare earth metals from discarded consumer electronics. These metals are then reused in the production of new devices, creating a closed-loop system that significantly reduces environmental impact.

A key development in Japan's recycling sector is the launch of a state-of-the-art urban mining facility in Osaka, designed to recover high-purity copper and aluminum from mixed waste materials. This facility uses a unique electrochemical process developed in collaboration with university researchers, reducing reliance on imports and enhancing domestic resource security.

Furthermore, Japanese automakers are launching joint ventures with recycling firms to recover and reuse aluminum and steel from end-of-life vehicles. This effort is not only environmentally friendly but also helps reduce the costs associated with importing raw materials in a time of global supply chain disruptions.

In addition, Japan's Ministry of the Environment announced new national targets in 2025 that aim for a 70% metal recycling rate by 2030, spurring more investments in collection infrastructure and public awareness campaigns.

Conclusion

The Metal Recycling Market is gaining strong traction, fueled by growing focus on sustainability, evolving regulations, and ongoing technological advancements.From upgraded recycling plants in the U.S. to cutting-edge urban mining in Japan, the global effort to reduce waste and increase material recovery is creating vast economic opportunities.

As governments tighten environmental regulations and industries prioritize circular production models, the metal recycling sector is set to play a critical role in shaping the future of materials and manufacturing. By 2025, recycled metals will not only be seen as a cost-saving alternative but as a strategic resource for resilient and responsible growth.

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