Recycled Copper Market: Current Analysis and Forecast (2021-2027)

Recycled Copper Market: Current Analysis and Forecast (2021-2027)

Global recycled copper market expected 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. 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.

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.

Some of the major players operating in the market are 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&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst copper scrap grade, bare bright copper segment holds the major share”

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

“Amongst application, electrical and electronics segment holds the major share”

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.

“Asia Pacific represents one of the extensive market shares of global recycled copper Market”

For a better understanding of the market dynamics of the global recycled copper market, a detailed analysis was conducted for different regions including Asia Pacific, North America, Europe, and Rest of the 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.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.