Global Copper Scrap Market Size To Exceed USD 129.17 Billion by 2033 | CAGR of 6.74%
Category: Chemicals & MaterialsGlobal Copper Scrap Market Size To Exceed USD 129.17 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Copper Scrap Market Size Expected to Grow from USD 67.27 Billion in 2023 to USD 129.17 Billion by 2033, at a CAGR of 6.74% during the forecast period 2023-2033.
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Browse key industry insights spread across 189 pages with 120 Market data tables and figures & charts from the report on the "Global Copper Scrap Market Size, Share, and COVID-19 Impact Analysis, By Feed Material (Old Scrap, New Scrap), By Grade (Bare Bright, #1 Copper, #2 Copper Scrap), By Application (Wire Rod Mills, Brass Mills, Ingots Makers, Other), By End-use (Building & Construction, Electrical & Electronics, Industrial Machinery & Equipment, Transportation Equipment, Consumer & General Products), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/copper-scrap-market
Copper's exceptional conductivity and resistance to corrosion make it indispensable in a wide range of industries. Reprocessing scrap copper into new products is a more energy-efficient and environmentally beneficial option than traditional mining and refining. Copper scrap, derived from copper-based products such as plumbing and old electrical wiring, is one of the most valuable recyclable commodities. The market for copper scrap is expected to develop as a consequence of the increasing demand for copper across a number of industries, including electronics, renewable energy, construction, and transportation. The electrical and electronics industry is the largest global user of copper scrap. The expanding use of electric vehicles and the recently discovered use of copper scrap in the healthcare sector are likely to facilitate future prospects, as will the global market for electric vehicles, the growing demand for automobiles, strict government regulations, and energy-saving initiatives. However, However, iron ore is particularly unpredictable due to the growing demand for it from different industries. Consequently, a number of issues, such as shifting import and customs taxes and shifting raw material costs, may hinder the expansion of the global copper scrap market.
- The old scrap segment is expected to hold the largest share of the global copper scrap market during the anticipation timeframe.
Based on the feed material, the global copper scrap market is categorized into old scrap and new scrap. Among these, the old scrap segment is expected to hold the largest share of the global copper scrap market during the anticipation timeframe. The term "dirty scrap" refers to the significant quantity of insulation, sheathing, and covering that must be torn off. This dirty scrap must be cleaned further before it can be considered clean scrap. It is now separated, baled, and kept for further use or sale. The most common sources of old scrap are C&D, ELVs, WEE, IEW, and INEW.
- The #2 copper scrap segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the grade, the global copper scrap market is categorized into bare bright, #1 Copper, #2 copper scrap. Among these, the #2 copper scrap segment is expected to grow at the fastest CAGR during the anticipation timeframe. #2 copper scrap includes at least 94–96% copper and is used to make wire, fittings, pipes, and tubes. For wires to be considered this type of trash, they must be bare, meaning they are not insulated, and have a diameter of less than 1/16 inch. However, wires with very small diameters could have a reduced scrap value.
- The brass mills segment is predicted to dominate the global copper scrap market during the anticipation timeframe.
Based on the application, the global copper scrap market is categorized into wire rod mills, brass mills, ingots makers, and others. Among these, the brass mills segment is predicted to dominate the global Copper Scrap market during the anticipation timeframe. Brass mills melt and use scrap copper and alloy to make tubes, sheets, strips, bars, rods, extrusions, forgings, and mechanical wires. More than half of the copper input used in these mills is copper scrap. Hot rolling, cold rolling, drawing, and extrusion are fabrication processes used to create the finished products from melted and cast feedstock.
- The electrical & electronics segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the end-use, the global copper scrap market is categorized into building & construction, electrical & electronics, industrial machinery & equipment, transportation equipment, consumer and general products. Among these, the electrical & electronics segment is expected to grow at the fastest CAGR during the anticipation timeframe. Due to growing global demand for electronic goods and increased awareness of energy conservation, copper scrap consumption is increasing across a variety of end-use industries, especially in the electrical and electronics sectors. Additionally, it is projected that rising investments in the production of electric vehicles will result in a greater demand for copper scrap from the automotive and transportation industries.
Asia-Pacific is projected to hold the largest share of the global copper scrap market over the anticipation timeframe.
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Asia-Pacific is projected to hold the largest share of the global copper scrap market over the anticipation timeframe. Developments in copper scrap have raised demand for copper and copper-derived products, especially scrap copper. There is a sizable consumer market for electrical and electronic equipment in Asia-Pacific. The demand for copper and copper scrap is rising in the region as a result of the growing use of mobile devices, consumer electronics, and appliances. The automotive, electrical, and electronics industries have robust industrial roots in Asia-Pacific.
North America is expected to grow at the fastest CAGR growth of the global copper scrap market during the forecast period. Recycling copper waste is crucial in North America to satisfy the growing demand for copper in the restoration of aging infrastructure. Recycled copper scraps are widely used in electric vehicles and construction. The demand for copper scrap in the area is also being driven by the goal of developing a green economy.
Major vendors in the global Copper Scrap market are Aurubis, Commercial Metals, Sims Limited, HKS Metals, Jansen Recycling Group, Kuusakoski, Enerpat Group, European Metal Recycling, Olin Brass, OmniSource Corporation, Trademark Metals Recycling LLC, Mallin Companies, David J. Joseph, Mid-West Recycling, American Metal Recycling and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In June 2023, Colt Recycling LLC, a UK-based e-waste recycler with facilities in North Carolina, USA, and New Hampshire, UK, was acquired by Elemental Holding Group, a mining and e-waste recycling company based in Luxembourg, for an undisclosed amount. This will help expand the former's geographic reach.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global copper scrap market based on the below-mentioned segments:
Global Copper Scrap Market, By Feed Material
- Old Scrap
- New Scrap
Global Copper Scrap Market, By Grade
- Bare Bright
- #1 Copper
- #2 Copper Scrap
Global Copper Scrap Market, By Application
- Wire Rod Mills
- Brass Mills
- Ingots Makers
- Other
Global Copper Scrap Market, By End-use
- Building & Construction
- Electrical & Electronics
- Industrial Machinery & Equipment
- Transportation Equipment
- Consumer & General Products
Global Copper Scrap Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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