Recycled Metal Market In 2029
Recycled Market Growth
Recycled Market Forecast
Recycled Metal Market Growth
The Business Research Company’s Recycled Metal Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, January 6, 2026 /EINPresswire.com/ -- Recycled Metal Market to Surpass $101 billion in 2029. In comparison, the Metal Products market, which is considered as its parent market, is expected to be approximately $3,309 billion by 2029, with Recycled Metal to represent around 3% of the parent market. Within the broader Metal And Mineral industry, which is expected to be $9,511 billion by 2029, the Recycled Metal market is estimated to account for nearly 1% of the total market value.
Which Will Be the Biggest Region in the Recycled Metal Market in 2029
Asia Pacific will be the largest region in the recycled metal market in 2029, valued at $57,247 million. The market is expected to grow from $40,377 million in 2024 at a compound annual growth rate (CAGR) of 7%. The strong growth can be attributed to the increasing industrialization and a rise in construction activities.
Which Will Be The Largest Country In The Global Recycled Metal Market In 2029?
China will be the largest country in the recycled metal market in 2029, valued at $38,518 million. The market is expected to grow from $26,546 million in 2024 at a compound annual growth rate (CAGR) of 8%. The strong growth can be attributed to the increasing urbanization and growth of the automotive industry.
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What will be Largest Segment in the Recycled Metal Market in 2029?
The recycled metal market is segmented by product into steel, aluminium, copper and other products. The steel market will be the largest segment of the recycled metal market segmented by product, accounting for 52% or $52,233 million of the total in 2029. The steel market will be supported by stringent environmental regulations, technological advancements in recycling processes and the growing demand for eco-friendly materials in construction, automotive and manufacturing sectors.
The recycled metal market is segmented by metal into ferrous and non-ferrous. The ferrous market will be the largest segment of the recycled metal market segmented by metal, accounting for 69% or $69,194 million of the total in 2029. The ferrous market will be supported by increasing sustainability initiatives, advancements in recycling technology and government regulations.
The recycled metal market is segmented by end-user into construction, transport and automotive, industrial machinery, electronics and consumer goods, aerospace and defence, packaging and other end-users. The construction market will be the largest segment of the recycled metal market segmented by end-user, accounting for 40% or $40,565 million of the total in 2029. The construction market will be supported by rising government regulations, infrastructure development projects and technological advancements in metal recycling.
What is the expected CAGR for the Recycled Metal Market leading up to 2029?
The expected CAGR for the recycled metal market leading up to 2029 is 7%.
What Will Be The Growth Driving Factors In The Global Recycled Metal Market In The Forecast Period?
The rapid growth of the global recycled metal market leading up to 2029 will be driven by the following key factors that are expected to reshape industrial raw material sourcing, manufacturing processes, and sustainability practices worldwide.
Rising Construction Activities – The rising construction activities will become a key driver of growth in the recycled metal market by 2029. The construction sector comprises manufacturing and commerce concerned with creating, maintaining and fixing structures and drilling and mineral exploration. Construction activities have been on the rise due to rapid industrialization and urbanization. These construction activities create a huge demand for recycled metals, as they are economical and sustainable. As a result, the rising construction activities is anticipated to contributing to a 3.8% annual growth in the market.
Increasing Urbanization – The increasing urbanization will emerge as a major factor driving the expansion of the market by 2029. As cities expand, the demand for metals in building materials, transportation systems and utilities increases, creating opportunities for the use of recycled metals as a cost-effective and sustainable alternative to virgin resources. Urbanization leads to greater waste generation, including construction debris, obsolete vehicles and electronic waste, all of which contribute to the availability of scrap metal for recycling. Consequently, the increasing urbanization is projected to contributing to a 1.5% annual growth in the market.
Increasing Infrastructure Development - The increasing infrastructure development will serve as a key growth catalyst for the market by 2029, Large-scale projects such as roads, bridges, railways and commercial buildings require vast amounts of steel, aluminium and copper, which can be efficiently sourced from recycled metals. Governments and private investors are increasingly prioritizing eco-friendly construction practices, leading to higher adoption of recycled metals to reduce carbon emissions and lower costs. Therefore, this increasing infrastructure development is projected to supporting to a 0.6% annual growth in the market.
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What Are The Key Growth Opportunities In The Recycled Metal Market in 2029?
The most significant growth opportunities are anticipated in the ferrous metal recycling market, the recycled steel market, and the recycled metal for construction market. Collectively, these segments are projected to contribute over $45 billion in market value by 2029, driven by rising global demand for secondary raw materials, stricter sustainability regulations, and rapid adoption of circular economy practices across industrial supply chains. This growth is further supported by technological advancements in automated sorting, shredding, and metal recovery systems that enhance processing efficiency and material purity. Expanding construction activity, increased steel consumption, and the growing push to reduce carbon emissions in heavy industries are accelerating the shift toward recycled metals, fuelling transformative expansion across the broader recycled metal ecosystem.
The ferrous metal recycling market is projected to grow $18,371 million, the recycled steel market by $14,861 million, and the recycled metal for construction market by $11,710 million over the next five years from 2024 to 2029.
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