Metal Recycling Market Size & Outlook, 2025-2033

Metal Recycling Market Overview

The global Metal Recycling Market size was valued at USD 915.44 Billion in 2024 and is projected to grow from USD 951.15 Billion in 2025 to reach USD 1291.73 Billion by 2033, growing at a CAGR of 3.9% during the forecast period (2025–2033). The growth of the market is attributed to steel Will Be the Driving Force behind Significant Growth in the Magnetite Segment.

Key Market Indicators

• Asia Pacific dominated the Metal Recycling Market industry and accounted for a 35% share in 2024.
• Based on metal type, ferrous metals dominate the segment due to their sheer volume and critical role across multiple industries. 
• Based on scrap type, In the metal recycling market, the old scrap segment leads as it represents the largest and most reliable source of recyclable material.
• Based on end-user, the automotive segment is the leading end user in the metal recycling market because vehicles generate a massive amount of recyclable material at the end of their lifecycle. 

Market Size & Forecast

• 2024 Market Size: USD 915.44 Billion
• 2033 Projected Market Size: USD 1291.73 Billion
• CAGR (2025–2033): 3.9%
• Asia-Pacific: Largest market in 2024
• North America: Fastest-growing region

Metal Recycling Market Trend

The recovery and processing of scrap metals at the end of a product's or structure's lifecycle to be used as a raw material in the production of new goods can be closely related to metal recycling. Recent years have seen a rise in demand for additional metal ores due to the rapid industrialization and urbanization that has taken place, particularly in developing economies. Because of this, manufacturers in the metals and minerals industry are having trouble keeping up with the rapidly growing demand for their products due to the diminishing availability of natural resources and the increasing regulations placed on mining activities. These manufacturers are placing a significant emphasis on adopting a variety of technologies that will enable them to recycle and reuse scrap metals, which is contributing to the expansion of the market. However, the growing environmental concerns and demand for energy conservation across the globe have led to an increase in the use of environmentally friendly materials, such as starch-based biomaterials and plant-based biomaterials, in the packaging industry and food beverage industry.

This has hampered the expansion of the global market for metal recycling. The most critical factor in the market's growth is the rising demand for metals, which, in conjunction with a growing emphasis on the preservation of natural resources and the reduction of emissions of greenhouse gases, is the primary factor. Recycling metal gives manufacturers the ability to acquire raw materials to produce finished goods without degrading the properties of the raw materials themselves. In addition to this, it is more cost-effective than the primary production of the metal. Additionally, the environmental imperative is also a significant factor in playing an essential role in driving the industry's growth.

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Metal Recycling Market Growth Factors

Steel Will Be the Driving Force behind Significant Growth in the Magnetite Segment

Steel continues to have an extremely high overall recycling rate all over the world; as a result, the ferrous segment is being driven by this. Steel's properties, which include its ability to withstand repeated melting, are primarily responsible for the high recycling rate achieved by the metal. In addition, scraps of steel can be repurposed into new steel products, which enables manufacturers to keep up with the rising demand for new steel and contributes to a reduction in the overall amount of carbon dioxide emissions produced. This provides the metal recycling industry in the regional markets with an additional impetus to grow.

The Quasi Segment is to Grow Fastest Due to Aluminium Use and Recycling

In the global metal recycling market, the quasi segment is anticipated to be the segment that will be the largest and the segment that will grow at the fastest rate during the forecast period. This expansion of the market is primarily attributable to the exceptional physical characteristics of aluminium, which make it possible for the material to be processed and recycled in any manner that may be desired. In the category of quasi metals, aluminium has the highest recycling rate out of all the other metals that are present.

Market Restraint

Concerns about the Diminishing Availability of Natural Resources Are Increasing

The environment on a global scale is suffering as a result of human activities. since improvements in people's financial situations have helped lift millions of people out of poverty. On the other hand, it has been made worse by rising population levels and human consumption of natural resources.

A rise in demand to satisfy the requirements of people worldwide has resulted in a transformation of land use and the generation of previously unimaginable levels of pollution, which harms biodiversity, forests, wetlands, water bodies, soils, and the quality of the air. Human activity is likely depleting more natural resources than the planet's capacity to replenish them. These factors are what are preventing the market from expanding even further.

Market Opportunity

Augmenting the Construction Phase Directly Results from An Increase in the Amount of Waste Generated by Buildings

The production of waste by human societies is not a recent phenomenon. "Ever since humans have inhabited the earth, they have generated, produced, manufactured, excreted, secreted, discarded, and otherwise disposed of various wastes in various ways." Since the beginning of civilization and the development of cities, human beings have occupied themselves with the task of coming up with solutions to the problems posed by the waste produced by their societies. The quantity of waste generated by human societies, particularly industrial societies. The ever-increasing number of people on Earth is undoubtedly a contributing factor. More people will result in more waste being produced. But ever since the industrial revolution and the rise of a consumer-based culture and economy around the world, the amount of waste produced has increased exponentially.

There was a significant reduction in the amount of waste produced, and every opportunity to repurpose available materials was investigated before anything was thrown away. Because of this, there will be lucrative opportunities available in the market.

Regional Insights

Asia-Pacific Metal Recycling Market Trend

The Asia-Pacific market will have the largest share of the global metal recycling market and is anticipated to be the region with the highest growth rate during the period covered by the forecast. Increasing demand for metals such as iron, steel, and aluminium due to rapid industrialization and urbanization in developing markets such as China, India, Indonesia, Vietnam, and Malaysia are the primary factor driving the market for metal recycling in Asia-Pacific. Other factors contributing to the growth of this market include government initiatives to recycle metals and environmental concerns. Additionally, China and India, two of the world's most populous and dynamic economies, both call this region of the world their home. They will continue to experience an increase in their population rate, which will result in Asia becoming the region with the highest number of births anywhere in the world.

North America Metal Recycling Market Trend

This rise in population across the regional market has further generated the requirement for an increase in the number of residential and commercial buildings across the market, consequently leading to a rise in the demand for metals used in constructing these buildings. Furthermore, in recent years, the need for ferrous and non-ferrous metals from end-use industries such as automotive, packaging, and food & beverage production has increased due to improvements in lifestyle and the expansion of industrialization. The region is the largest producer of most metal ores and manages to keep an adequate supply and demand of the raw materials. However, the growing demand for metal from various end-use industries and the depleting natural resources have compelled manufacturers and governmental organizations to adopt metal recycling. Consequently, it contributes to the expansion of the market.

Market Segmentation  

Metal Type Insight

Ferrous metals dominate the segment due to their sheer volume and critical role across multiple industries. Steel and iron are the most widely recycled metals globally, driven by strong demand from construction, automotive, shipbuilding, and heavy machinery sectors, which consistently generate large quantities of recyclable scrap. Their magnetic properties make collection and sorting highly efficient compared to non-ferrous metals thereby lowering operational costs for recyclers. Furthermore, steel is recyclable without quality degradation, which significantly reduces energy consumption and production costs versus using ore. These advantages, combined with supportive government regulations have ensured ferrous metals maintain the largest share of the global metal recycling market. 

Scrap Type Insight

In the metal recycling market, the old scrap segment leads as it represents the largest and most reliable source of recyclable material, driven by the steady flow of end-of-life products such as vehicles, construction debris, household appliances, and industrial equipment. Unlike new scrap, which is limited to production waste, old scrap is generated at scale across multiple industries and consumer cycles. Its dominance is further reinforced by the economic and environmental benefits it provides as recycling old scrap metals significantly reduces energy use and costs compared to primary production, with steel recycling saving up to 70% of energy and aluminum recycling saving more than 90%.  

China’s Ministry of Ecology and Environment introduced new rules under the standard GB/T 39733-2024 for recycling iron-steel materials. Under these rules, from August 1, 2025, multiple categories of ferrous scrap that meet the standard will be reclassified so that they are not considered “solid waste,” easing importation and regulatory burdens. 

Under the Union Budget 2025, India removed basic customs duty on non-ferrous metal scrap (e.g. copper, zinc, lead, battery scrap). This reduces cost barriers for recycling old scrap materials. Thus, governments and industries are adopting circular economy policies and stricter waste management frameworks, resulting in recovery of old scrap becoming central to meet sustainability goals. 

End User Insight

The automotive segment is the leading end user in the metal recycling market because vehicles generate a massive amount of recyclable material at the end of their lifecycle. Cars, trucks, and commercial vehicles are primarily made of steel, aluminum and copper, which together account for more than 70% of a vehicle’s weight. When these vehicles reach the end of their service life, they enter dismantling and scrapping channels, producing large volumes of old scrap. 

The automotive industry also has high recycling efficiency, with steel recovery rates often exceeding 90%, making it one of the most effective sectors for scrap recovery. Major automakers are increasingly using recycled metals in manufacturing to reduce costs, lower carbon emissions, and comply with government regulations. For instance, using recycled aluminum can cut energy use by up to 95% compared to primary production, making it an attractive option in electric vehicles (EVs), where weighing less is a priority.  

Additionally, government regulations such as End-of-Life Vehicle (ELV) policies in Europe, India (2025), and China are streamlining the collection and recycling of scrap metals from old cars, ensuring a steady supply of material. These factors together explain why the automotive segment remains the largest consumer and end user in the global metal recycling market. 

List of key players in Metal Recycling Market

1. ArcelorMittal S.A.
2. Nucor Corporation
3. Commercial Metals Company
4. Sims Metal Management Limited
5. Aurubis AG
6. Norsk Hydro ASA
7. Tata Steel Limited
8. Kimmel Scrap Iron & Metal Co., Inc
9. Radius Recycling
10. Dowa Holdings Co., Ltd.
11. OmniSource Corporation, Ltd.
12. PSC Metals Inc
13. AMG Resources Corporation
14. Alter Trading Inc

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Recent Development

• August 2025:-  Sims plans a redevelopment of its Pinkenba site (Australia) into a “world-class strategic logistics and metal recycling hub,” with improved transport via waterborne vessels and rail, reducing dependence on road transport.
• August 2025:-  Sims reports for the fiscal year ending June 30, 2025: revenue rose 4.1% year-on-year, but profits (EBITDA) fell by 10.5%, affected by the winding down of its former Sims Resource Renewal (SRR) business unit, asset impairments, and restructuring costs. Still, CEO emphasizes that long-term fundamentals are strong, especially the growth in EAF capacity and scrap demand.
• July 2025:-  In its Q2 2025 earnings, Nucor reports that its raw materials segment (which includes scrap processing operations) had increased earnings, partly due to its scrap processing business. Also, the cost per gross ton of scrap & scrap substitutes rose slightly versus the previous quarter.
• June 2025:-  ArcelorMittal postpones / drops its plans to convert its German plants at Bremen and Eisenhüttenstadt to Direct-Reduced Iron (DRI) + Electric Arc Furnace (EAF) steelmaking due to high energy costs, policy & market uncertainties. These conversions would have increased its recycled steel/EAF usage etc.
• June 2025:-  ArcelorMittal significantly expands scrap processing in Europe. In France, at Fos-sur-Mer, a new ladle furnace was launched (France 2030 program), which will increase scrap utilisation 5-fold and cut CO₂ emissions by 10% by 2025. Also at Dunkirk, processing capacity has doubled via warehouse expansion, new crane, logistics improvements. At other French EAF sites (Châteauneuf, Le Creusot) ArcelorMittal is already producing steel from 100% scrap.
• March 2025:-  Nucor expects lower profits in early 2025; among contributing factors is that its Direct-Reduced Iron (DRI) operations have been less profitable, and the raw materials / scrap-related margins are under pressure.
• March 2025:-  Hydro starts construction of a flagship aluminium recycling plant in Torija, Spain (north of Madrid). The investment is ~EUR 180 million. It’s intended to strengthen its recycling / circular economy position in Europe by keeping more post-consumer aluminium scrap in-use.