Copper scrap market seen reaching $67.6 billion by 2033

Persistence Market Research projects the global copper scrap market will rise from $42.4 billion in 2026 to $67.6 billion by 2033, driven by sustainability goals, industrial demand and broader use of recycled metals. Asia Pacific is expected to lead the market in 2026, helped by China, India’s EV expansion, Japan’s recycling sector and ASEAN manufacturing.

Why it matters: - Copper scrap is becoming a key feedstock for industries trying to cut costs, reduce energy use and lower emissions. - The market’s growth reflects a broader shift toward circular economy supply chains in metals, manufacturing, construction and transportation. - Demand for recycled copper is rising as companies and governments push for lower-carbon industrial production.

What happened: - Persistence Market Research projects the global copper scrap market will grow from US$ 42.4 billion in 2026 to US$ 67.6 billion by 2033. - The forecast implies a 6.9% compound annual growth rate from 2026 to 2033. - Asia Pacific is expected to hold a 38% share of the market in 2026. - The regional lead is tied to China, India’s electric vehicle growth, Japan’s recycling activity and ASEAN manufacturing.

The details: - Copper scrap is used to help manufacturers reduce production costs while limiting environmental impact. - Recycling copper uses significantly less energy than extracting primary copper. - Electrical and electronics makers, construction companies, transportation firms and industrial producers are increasing recycled copper use to meet environmental standards and support margins. - Urbanization and infrastructure buildout are increasing demand for copper in wiring, plumbing, telecommunications and construction. - Renewable energy systems such as solar farms, wind installations, power grids and energy storage require large volumes of copper components. - Electric vehicles use far more copper than conventional vehicles because of batteries, motors, charging infrastructure and electrical systems. - Technological improvements in sorting, automated processing and refining are raising recovery rates and improving copper purity from complex waste streams. - Copper’s ability to be recycled repeatedly without losing physical properties supports its role in circular economy strategies. - Industrial machinery, heavy equipment and consumer goods manufacturing continue to generate demand for recycled copper because of its cost and supply advantages.

Between the lines: - The forecast suggests recycled copper is moving from a secondary material to a strategic input for industrial supply chains. - Growth is being driven by both demand for copper-intensive technologies and pressure to source materials more sustainably. - Asia Pacific’s expected lead points to the region’s role as both a major consumer and processor of metals.

What's next: - Copper scrap suppliers are likely to benefit from rising demand tied to EV production, renewable energy buildouts and infrastructure spending. - Recycling operators may keep investing in sorting and refining technology to capture higher-value material. - The market outlook remains tied to government recycling rules, industrial expansion and continued adoption of sustainability targets.

The bottom line: - Copper scrap is positioned for steady growth through 2033 as industries seek cheaper, cleaner and more resilient metal supply chains.