Scrap Metal Recycling Market Size to Hit USD 722.65 Billion by 2035
The scrap metal recycling market is growing due to increasing demand for sustainable materials, rising metal prices, and global efforts to reduce environmental impact.
SEATTLE (Scrap Monster): The global scrap metal recycling market size accounted for USD 436.11 billion in 2025 and is predicted to increase from USD 458.70 billion in 2026 to approximately USD 722.65 billion by 2035, expanding at a CAGR of 5.18% from 2026 to 2035. The scrap metal recycling market is growing due to increasing demand for sustainable materials, rising metal prices, and global efforts to reduce environmental impact.
Market Highlights
· Asia Pacific dominated the global scrap metal recycling market with a share of approximately 48% in 2025.
· North America is expected to grow at the fastest CAGR between 2026 and 2035.
· By metal type, the ferrous metals segment generated the biggest market share of approximately 75% in 2025.
· By metal type, the non-ferrous metals segment is expected to expand at the fastest CAGR of 4.6% between 2026 and 2035.
· By scrap source, the old scrap segment contributed the highest market share of approximately 60% in 2025 and is expected to sustain the position during the forecast period.
· By scrap source, the new scrap segment is expected to witness significant growth in the market over the forecast period.
· By end-use industry, the building and construction segment held a major market share of approximately 38% in 2025.
· By end-use industry, the automotive segment is expected to expand at the fastest CAGR of 4.7% from 2026 to 2035.
Scrap Metal Recycling Market Trends
· Environmental Sustainability: Growing focus on sustainability and the circular economy is increasing the use of recycled metals over virgin materials.
· Technological Advancements: Rapid adoption of AI, automation, and advanced sorting technologies is improving efficiency and metal recovery rates.
· Electric Arc Furnaces: Rising use of electric arc furnaces (EAFs) is boosting demand for scrap-based steel production.
· Growing Adoption in Various Sectors: Non-ferrous metal recycling (aluminum, copper) is expanding due to demand from EVs, electronics, and packaging industries.
· Government Regulations: Stricter environmental regulations and government incentives are encouraging recycling investments.
· Rising Industrial Demand: Increasing infrastructure and construction activities, especially in emerging economies, are driving scrap metal consumption.
Courtesy: www.precedenceresearch.com