Copper Scrap Market Size To Reach $78.90 Billion By 2033

Copper Scrap Market Growth & Trends

The global copper scrap market size is expected to reach USD 78.90 billion by 2033, registering a CAGR of 9.3% from 2026 to 2033, according to a new report by Grand View Research, Inc. Increasing use of renewable energy sources for electricity generation has resulted in technological developments in the wind generation sector. This factor, coupled with rising awareness and emphasis on clean energy and sustainability, is expected to drive the demand for copper in wind energy production. This is set to become the biggest driver for the market over the forecast period.

Further, rising investments in EV manufacturing facilities across the world are expected to positively influence copper usage, consequently benefiting the market growth over the forecast period. For instance, in March 2022, Suzuki Motor Corporation decided to invest USD 1,320.2 million in its manufacturing plant in Gujarat, India. It is also planned to produce 125,000 EVs by 2025. In addition, over past two years, companies such as Daimler, Stellantis, and General Motors invested USD 47.0, 35.0, and 23.0 billion for their EV production facilities, respectively.

Stringent environmental regulations were introduced to mitigate environmental adversities. As a result, scrap dealers are required to obtain a certificate of conformity that indicates scrap yards and businesses comply with waste regulations. Further, Standard Rules SR2015No3 describes metal recycling and waste electrical and electronic equipment authorized treatment facility (ATF) excluding ozone-depleting substances. A license is required for all metal trading and is issued by the local authority. These regulations influence demand for copper scrap and impact market growth.

The European Union has set an ambitious target to become climate-neutral by 2050. Owing to this, the region is witnessing a significant boost in the production of EVs. For instance, in July 2022, Volvo announced an investment of EUR 1.20 billion (USD 1.22 billion) to set up a new manufacturing plant in Slovakia, and the plant is expected to begin production by 2026. Similarly, the rising focus of European countries on sustainable and clean energy generation is propelling the demand for renewable energy like wind and hydro, which is positively impacting copper.

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Copper Scrap Market Report Highlights

• Based on feed material, the old scrap segment is expected to witness the fastest growth during the forecast period, driven by increasing recovery of copper from end-of-life products such as electrical wiring, electronic equipment, construction materials, and automotive components.

• Based on grade, the #2 copper segment accounted for the largest revenue share in 2025, primarily due to its wide availability and extensive use in recycling operations.

• Based on application, the brass mills segment accounted for the largest revenue share in 2025, primarily due to the extensive use of recycled copper in the production of brass alloys used across plumbing fixtures, industrial components, electrical fittings, and decorative applications.

• Asia Pacific dominates the market with the largest revenue share of 62.1% in 2025 due to rapid industrialization, expanding manufacturing activities, and high copper consumption in countries such as China, India, Japan, and South Korea.

Copper Scrap Market Segmentation

Grand View Research has segmented the global copper scrap market based on feed material, grade, application, and region:

Feed Material Outlook (Revenue, USD Million; Volume, Kilotons, 2021 - 2033)

• Old Scrap

• New Scrap

Copper Scrap Grade Outlook (Revenue, USD Million; Volume, Kilotons, 2021 - 2033)

• Bare Bright

• #1 Copper Scrap

• #2 Copper Scrap

• Other Grades

Copper Scrap Application Outlook (Revenue, USD Million; Volume, Kilotons, 2021 - 2033)

• Wire Rod Mills

• Brass Mills

• Ingots Makers

• Other Applications

Copper Scrap Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • Italy

  • Belgium

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

• Latin America

  • Brazil

• Middle East and Africa

  • South Africa

List Of Key Players Copper Scrap Market

• Aurubis AG

• Commercial Metals Company

• David J. Joseph Company

• European Metal Recycling Ltd.

• Glencore plc

• HKS Metals

• Kuusakoski Group

• OmniSource Corporation

• Schnitzer Steel Industries, Inc.

• Sims Limited