Product Code: CMI7528
The global scrap metal recycling market is estimated to be valued at USD 60.22 Bn in 2024 and is expected to reach USD 87.45 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 60.22 Bn |
Historical Data for: |
2019 To 2023 |
Forecast Period: |
2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: |
5.50% |
2031 Value Projection: |
US$ 87.45 Bn |
Figure. Scrap Metal Recycling Market Share (%), By Region 2024

Scrap metal recycling refers to reprocessing of scrap metals into new products to prevent waste and reduce the consumption of fresh raw materials.
Market Dynamics:
The global scrap metal recycling market is driven by the rising demand from construction and automotive industries. Rapid infrastructure growth and remodeling activities have increased the consumption of iron, steel, and aluminum globally which is predominantly met through recycling. Further, significant rise in automobile manufacturing and fleet has led to higher metal scrap generation. Meanwhile, stringent government regulations regarding waste management and sustainability goals to reduce carbon footprint are also pushing scrap metal recycling uptake across industries. However, presence of impurities, high processing costs, and inconsistent scrap supply remain key challenges. On the positive side, advancing sorting and purification technologies are helping recyclers to improve operational efficiencies.
Key Features of the Study:
This report provides in-depth analysis of the global scrap metal recycling market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global scrap metal recycling market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Sims Metal Management, Nucor Corporation, Commercial Metals Company (CMC), Schnitzer Steel Industries, Inc., Steel Dynamics, Inc., European Metal Recycling Ltd., OmniSource Corporation, David J. Joseph Company (DJJ), Republic Services, Inc., Waste Management, Inc., Ferrous Processing & Trading, TMS International Corporation, KWS Environmental, and SA Recycling, LLC
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global scrap metal recycling market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global scrap metal recycling market
Market Segmentation
- Metal Type Insights (Revenue, USD Bn, 2019 - 2031)
- Ferrous Metals
- Non-Ferrous Metals
- Source Insights (Revenue, USD Bn, 2019 - 2031)
- Industrial Scrap
- Post-Consumer Scrap
- Application Insights (Revenue, USD Bn, 2019 - 2031)
- Building & Construction
- Automotive
- Equipment Manufacturing
- Packaging
- Consumer Appliances
- Others
- Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Sims Metal Management
- Nucor Corporation
- Commercial Metals Company (CMC)
- Schnitzer Steel Industries, Inc.
- Steel Dynamics, Inc.
- European Metal Recycling Ltd.
- OmniSource Corporation
- David J. Joseph Company (DJJ)
- Republic Services, Inc.
- Waste Management, Inc.
- Ferrous Processing & Trading
- TMS International Corporation
- KWS Environmental
- SA Recycling, LLC
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Global Scrap Metal Recycling Market, By Metal Type
- Global Scrap Metal Recycling Market, By Source
- Global Scrap Metal Recycling Market, By Application
- Global Scrap Metal Recycling Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend
4. Global Scrap Metal Recycling Market, By Metal Type, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Ferrous Metals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Non-Ferrous Metals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
5. Global Scrap Metal Recycling Market, By Source, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Industrial Scrap
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Post-Consumer Scrap
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
6. Global Scrap Metal Recycling Market, By Application, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Building & Construction
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Automotive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Equipment Manufacturing
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Packaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Consumer Appliances
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
7. Global Scrap Metal Recycling Market, By Region, 2019 - 2031, Value (USD Bn)
- Introduction
- Market Share (%) Analysis, 2024, 2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2020 - 2031, Value (USD Bn)
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, By Metal Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- Latin America
- Introduction
- Market Size and Forecast, By Metal Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Metal Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Metal Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Metal Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Metal Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Source, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country/Region, 2019 - 2031, Value (USD Bn)
- South Africa
- North Africa
- Central Africa
8. Competitive Landscape
- Sims Metal Management
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Nucor Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Commercial Metals Company (CMC)
- Schnitzer Steel Industries, Inc.
- Steel Dynamics, Inc.
- European Metal Recycling Ltd.
- OmniSource Corporation
- David J. Joseph Company (DJJ)
- Republic Services, Inc.
- Waste Management, Inc.
- Ferrous Processing & Trading
- TMS International Corporation
- KWS Environmental
- SA Recycling, LLC
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. References and Research Methodology
- References
- Research Methodology
- About us