Recycled Metal Market Report 2025: Global Recycled Metal Market to Reach $99.13 Billion by 2029, Driven by Green Manufacturing & Sustainability\n\nThe global recycled metal market is set to grow from $75.47 billion in 2025 to $99.13 billion by 2029, at a 7.1% CAGR. Key growth drivers include increased construction activity, rising steel demand, and sustainability initiatives. Technological advancements in metal sorting, government regulations, and corporate sustainability commitments further fuel market expansion. The construction, automotive, and industrial machinery sectors are key consumers of recycled metals. Major players include ArcelorMittal, Nucor, Tata Steel, Sims Metal Management, and Aurubis AG. The report provides market trends, competitive analysis, and regional growth insights.\n\nThe increasing demand in the construction sector is anticipated to drive growth in the recycled metal market. This sector encompasses the manufacturing and commerce associated with building, maintaining, and repairing structures, as well as drilling and mineral exploration. Construction activities have been growing rapidly due to industrialization and urbanization, leading to a significant demand for recycled metals, which are both cost-effective and sustainable. For example, in November 2023, the Office for National Statistics, a UK-based government department, reported an increase of £18.16 billion ($19.96 million) in new construction activities in 2022. This included a 16.8% rise in private sector projects and a 13.1% increase in public sector projects. Therefore, the surge in construction activities is expected to propel the recycled metal market.\n\nThe expanding utilization of steel across various end-user industries is poised to propel the growth of the recycled metal market. Steel, a crucial iron alloy widely used in industries, benefits significantly from recycled metals, particularly scrap steel, fostering environmentally conscious and sustainable manufacturing practices. Notably, the American Iron and Steel Institute's annual statistical report in June 2023 revealed an 11 percent increase in finished steel imports in 2022, constituting 24% of apparent steel consumption, thereby bolstering the demand for recycled metals.\n\nStrategic partnerships and collaborations are significantly shaping the recycled metals market landscape. Major players within this sector are actively engaging in partnerships to leverage resources and expand their market reach. For instance, in July 2022, Novelis Inc. partnered with Sortera Alloys Inc., aiming to augment the proportion of recycled material in automotive alloys, reducing the carbon footprint. Similarly, Daimler India Commercial Vehicles Pvt. Ltd. collaborated with Cero - Mahindra MSTC Recycling Pvt. Ltd. (MMRPL) in February 2022, facilitating the replacement of outdated fleets with state-of-the-art BSVI BharatBenz vehicles, aligning with high safety, quality, and environmental standards.\n\nTechnological advancements remain a focal point for major companies operating in the recycled metal market. Innovations such as X-ray transmission (XRT) technology, adept at separating aluminum from heavy metals in a single process, are gaining prominence. For instance, Tomra's introduction of X-TRACT for aluminum recycling in May 2022 stands as a groundbreaking advancement. The upgraded X-TRACT boasts improved capabilities and machine intelligence, revolutionizing high-throughput sorting of complex mixed metal streams, producing high-purity aluminum segments essential for the industrial transition toward a low-carbon future. The X-TRACT's Dual Processing Technology enhances processing capacity per meter width and offers unparalleled innovations and high-speed sorting capabilities, catering to the evolving demands of the industry.\n\nThe increasing demand in the construction sector is anticipated to drive growth in the recycled metal market. This sector encompasses the manufacturing and commerce associated with building, maintaining, and repairing structures, as well as drilling and mineral exploration. Construction activities have been growing rapidly due to industrialization and urbanization, leading to a significant demand for recycled metals, which are both cost-effective and sustainable. For example, in November 2023, the Office for National Statistics, a UK-based government department, reported an increase of £18.16 billion ($19.96 million) in new construction activities in 2022. This included a 16.8% rise in private sector projects and a 13.1% increase in public sector projects. Therefore, the surge in construction activities is expected to propel the recycled metal market.\n\nThe expanding utilization of steel across various end-user industries is poised to propel the growth of the recycled metal market. Steel, a crucial iron alloy widely used in industries, benefits significantly from recycled metals, particularly scrap steel, fostering environmentally conscious and sustainable manufacturing practices. Notably, the American Iron and Steel Institute's annual statistical report in June 2023 revealed an 11 percent increase in finished steel imports in 2022, constituting 24% of apparent steel consumption, thereby bolstering the demand for recycled metals.\n\nStrategic partnerships and collaborations are significantly shaping the recycled metals market landscape. Major players within this sector are actively engaging in partnerships to leverage resources and expand their market reach. For instance, in July 2022, Novelis Inc. partnered with Sortera Alloys Inc., aiming to augment the proportion of recycled material in automotive alloys, reducing the carbon footprint. Similarly, Daimler India Commercial Vehicles Pvt. Ltd. collaborated with Cero - Mahindra MSTC Recycling Pvt. Ltd. (MMRPL) in February 2022, facilitating the replacement of outdated fleets with state-of-the-art BSVI BharatBenz vehicles, aligning with high safety, quality, and environmental standards.

Recycled Metal Market Report 2025: Global Recycled Metal

The global recycled metal market is expected to grow from $75.47 billion in 2025 to $99.13 billion by 2029, driven by green manufacturing and sustainability initiatives. Key sectors include construction, automotive, and industrial machinery, with major players such as ArcelorMittal, Nucor, Tata Steel, Sims Metal Management, and Aurubis AG. Technological advancements and strategic partnerships are fueling growth.