Global Copper Scrap Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Copper Scrap Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

As with many metals, copper is 100 percent recyclable, and for the most part retains its wide variety of beneficial properties when it is reused. Copper scrap material — also known as secondary copper — can be divided into two main categories: new scrap and old scrap.

New scrap is copper metal discarded in fabrication and manufacturing processes, and is typically considered higher-grade material than old scrap. Old scrap refers to copper wire, copper tubing, roofing copper or copper pipe from post-consumer products that can be converted to refined metal and alloys.

During the recycling process, these secondary copper materials are smelted in furnaces and then further processed and refined. Electrical applications require high-grade copper, and while newly mined copper is often preferred for this purpose, premium-quality new scrap material can be used as well. Recycled copper for use in non-electrical applications, such as plumbing tubes or roofing sheets, is often old scrap.

Market Overview:

The latest research study on the global Copper Scrap market finds that the global Copper Scrap market reached a value of USD 58868.7 million in 2022. It’s expected that the market will achieve USD 106240.0 million by 2028, exhibiting a CAGR of 10.34% during the forecast period.

Assessment of the Overall Impact of COVID-19 on the Industry

The COVID-19 epidemic spread to more than 210 countries and regions around the world in three months, affecting nearly 7 billion people. The coronavirus epidemic has impacted all aspects of human health, economic growth, social development, national security, and international relations. It is a comprehensive challenge. The epidemic has drastically reversed expectations of moderate growth in the world economy in early 2020. After the outbreak, the employment situation in various countries has become more severe. Global investors panic, triggering turmoil in the financial and capital markets. The epidemic has caused huge losses to related industries and international trade. From the perspective of the general background, exports, consumption, and investment are driving the economy. After the outbreak of the epidemic, consumption, exports, and investment have all been affected to some extent. Therefore, the global economic downturn is inevitable.

More than one million lives have been lost to COVID-19 since the start of 2020 and the toll continues to rise. Many more have suffered a serious illness. Close to 90 million people are expected to fall into extreme deprivation this year. Compared with the IMF report released in June, the global economic contraction in 2020 will not be as severe as previously predicted. This revision reflects a better-than-expected economic recovery in the second quarter. Global growth is projected at 5.2 percent in 2021, a little lower than in the June 2020 WEO Update, reflecting the more moderate downturn projected for 2020 and consistent with expectations of persistent social distancing. This is the worst global recession in decades, despite the huge efforts of governments with the support of fiscal and monetary policies to deal with the economic downturn. But from a long-term perspective, it is expected that the severe recession caused by the pandemic will cause a prolonged economic depression by reducing investment. Should COVID-19 outbreaks persist, should restrictions on movement be extended or reintroduced, or should disruptions to economic activity be prolonged, the recession could be deeper. Businesses might find it hard to service debt, heightened risk aversion could lead to climbing borrowing costs, and bankruptcies and defaults could result in financial crises in many countries. Under such unfavorable circumstances, there will still be a possibility of a global decline in 2021.

Market Drivers

With the rapid development of the electronics market, the demand for mechanized electrical products has increased. In the manufacturing industry, copper is widely used in machinery and is also transformed into final products and semi-finished products, such as pipes and tubes. Because it is an effective conductor of heat and electricity, copper is also used in the installation, energy and telecommunications sectors, as well as in the transportation equipment industry. This factor drives market development.
The importance of e-waste recycling is increasing, and more and more countries are beginning to pay attention to the pollution of electronic products and the economic benefits of recycling. This stage is also popularizing the awareness of electronic recycling, and copper scrap is an important part of electronic waste. With the increase in awareness, it also has a driving force for the market.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

Aurubis, European Metal Recycling (EMR) ,Chiho Environmental Group, TSR and Reukema are the five key players in the global Copper Scrap market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Copper Scrap market in the past 5 years.

Aurubis is a leading worldwide provider of non-ferrous metals. They process complex metal concentrates and diverse recycling raw materials. Aurubis is the global leader for copper recycling.

European Metal Recycling is a global scrap metal company, founded in 1994 by Phillip Sheppard. They recycle 10 million tonnes of waste annually, made up of everything from drinks cans to oil platforms, which are re-used, recycled and recovered into more than 200 grades of new, sustainable raw materials.

Segmentation Overview:

Among different product types, Copper Alloys segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Construction segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Copper Scrap market covered in Chapter 3:

Kuusakoski Oy
Chiho Environmental Group
Schnitzer Steel Industries
TSR
Reukema
Sidmetal SA
Aurubis
CMC Recycling
Jain Metal Group
Steelbro
RIMECO
European Metal Recycling (EMR)

In Chapter 4 and Chapter 14.2, on the basis of types, the Copper Scrap market from 2018 to 2029 is primarily split into:

Copper
Copper Alloys

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Copper Scrap market from 2018 to 2029 covers:

Motors
Computers
Construction
Industrial Machinery
Home Appliances
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)