World Recycled Copper Market to Grow Significantly Till 2029

The recycled copper market may be directly impacted by price changes of virgin copper.

SEATTLE (Scrap Monster): The latest research report published by Market Data Forecast suggests robust CAGR growth rate of 7.10% to global recycled copper market over the period from 2024 to 2029. The market, valued at $252.64 billion last year, is estimated to reach $355.95 billion by the end of the forecast period.

The growing awareness about the use of recycled copper and related alloys to rectify the disparity between the world's supply and demand for copper has been a major driving force behind the expansion of recycled copper market. The use of recycled copper ensures lower energy use and reduced carbon emissions, thus contributing to sustainability and significant environmental benefits.

The recycled copper market may be directly impacted by price changes of virgin copper. The market may also face challenges from emerging biocompatible materials and other substitutes. The strict government rules too may hinder the stability and growth of recycled copper market.

By region, Asia Pacific dominated the world recycled copper market in 2023. Also, Europe emerged as the market with second highest share of global market. However, North America is predicted to witness fastest CAGR growth during the forecast period.

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