Tucked away from the headlines, the global scrap industry is quietly powering a multi-trillion-dollar circular economy, with the market projected to hit $652.8 billion by 2030 as nations race to secure these essential secondary resources.
Key Takeaways
- Global scrap metal recycling market size reached USD 456.2 billion in 2022 and is projected to grow to USD 652.8 billion by 2030 at a CAGR of 4.6%
- U.S. ferrous scrap exports totaled 17.2 million metric tons in 2023, valued at $6.8 billion, marking a 12% increase from 2022
- European scrap steel market valued at €45 billion in 2023, with Germany leading at 22% share
- U.S. generated 140 million metric tons of ferrous scrap in 2022 from obsolete and prompt sources
- Global steel scrap generation estimated at 720 million tons annually as of 2023
- EU-27 produced 55 million tons of steel scrap in 2023, with construction contributing 32%
- World steel scrap recycling rate 85% for prompt scrap in 2023
- U.S. recycled 69 million tons of steel scrap in 2023, saving 1.5 tons of iron ore per ton
- EU steel scrap recycling utilization rate 40.5% of total steel production in 2023
- U.S. scrap industry recycled materials worth $32 billion in steel alone 2023
- Scrap recycling supports 140,000 jobs in U.S. with $12.5 billion wages in 2022
- Global scrap trade contributes $200 billion to world economy annually
- Recycling 1 ton of steel scrap conserves 1.1 tons of iron ore, 630 kg coal, 55 kg limestone globally
- U.S. steel recycling saved 200 million tons CO2 emissions in 2023 vs. virgin production
- Global scrap-based steel production cuts energy use by 74% compared to blast furnace
The scrap recycling industry is experiencing massive global growth driven by economic and environmental benefits.
Economic Impact
- U.S. scrap industry recycled materials worth $32 billion in steel alone 2023
- Scrap recycling supports 140,000 jobs in U.S. with $12.5 billion wages in 2022
- Global scrap trade contributes $200 billion to world economy annually
- EU scrap recycling saves €2.5 billion in raw material costs yearly
- India’s scrap sector employs 1.5 million people informally, $10 billion turnover
- U.S. exports of scrap metals generated $18 billion trade surplus in 2023
- China’s scrap recycling industry GDP contribution $50 billion in 2023
- Brazil scrap industry adds R$20 billion to economy, 50,000 direct jobs
- Japan scrap recycling saves ¥1 trillion in imports annually
- Turkey’s scrap processing industry $10 billion revenue, 100,000 jobs
- Global scrap recycling reduces import dependency by 20% for steelmaking nations
- U.S. Midwest scrap yards contribute $5 billion locally in taxes and wages
- South Korea scrap sector $15 billion market, 30,000 employed
- Africa scrap trade $5 billion annually, supporting 500,000 jobs
- Mexico scrap recycling $4 billion industry, 40,000 jobs
- UK scrap exports support 20,000 jobs, £3 billion value
- Australia scrap industry $6 billion GDP contribution
- Vietnam scrap processing $2.5 billion, growing 15% YoY
- Canada scrap recycling $10 billion economic activity, 25,000 jobs
- Russia scrap market $8 billion, despite sanctions impact
- Global stainless scrap trade $20 billion annually
- Indonesia scrap industry employs 200,000, $3 billion turnover
- U.S. nonferrous scrap recycling $40 billion revenue
Economic Impact Interpretation
From the colossal $32 billion in U.S. steel scrap to the $10 billion scrap empires in Turkey and India, the world is secretly running on a multi-billion dollar economy built from what it almost threw away, proving that one nation's junk is quite literally another's job-creating, trade-surplus-generating treasure.
Environmental Benefits
- Recycling 1 ton of steel scrap conserves 1.1 tons of iron ore, 630 kg coal, 55 kg limestone globally
- U.S. steel recycling saved 200 million tons CO2 emissions in 2023 vs. virgin production
- Global scrap-based steel production cuts energy use by 74% compared to blast furnace
- EU scrap recycling avoids 300 million tons GHG emissions yearly
- Aluminum scrap recycling saves 95% energy, 14 tons CO2 per ton avoided
- India steel scrap use reduces water consumption by 40% per ton produced
- Copper scrap recycling conserves 85-95% less energy than primary smelting
- China’s increased scrap use in EAFs cut 150 million tons CO2 in 2023
- Global battery scrap recycling recovers 95% materials, avoiding 50 million tons mining waste
- Brazil aluminum recycling diverts 90% cans from landfills, saving 1 million tons waste
- Japan’s urban mining from scrap recovers 10 million tons resources yearly
- U.S. paper recycling saves 17 trees, 7000 gallons water per ton
- Turkey steel scrap use reduces SOx emissions by 80% vs. ore-based
- Global e-waste recycling prevents 1.5 million tons hazardous waste leakage yearly
- South Korea scrap recycling cuts landfill use by 70%
- EU plastic scrap recycling saves 700 million tons oil equivalent energy
- U.S. tire recycling avoids 55 million tons landfill space over decade
- Glass scrap recycling infinitely recyclable, saves 30% energy per ton
- Mexico scrap steel production emits 50% less CO2 than BF-BOF
- UK metal recycling conserves 1.5 million tons CO2 annually
- Australia aluminum scrap use saves 4 tons bauxite per ton recycled
- Vietnam scrap recycling reduces air pollution by 60% in processing zones
- Canada copper recycling avoids 2.2 tons waste rock per ton
- Global textile scrap reuse cuts water use by 20 billion cubic meters yearly
- Russia steel scrap EAFs emit 0.4 tons CO2 per ton vs. 2 tons BF
Environmental Benefits Interpretation
When you consider that the scrap industry is quietly running the world's most effective environmental rescue mission by turning yesterday's trash into tomorrow's treasure, the statistics—from saving enough energy to power nations to preventing enough emissions to clear the skies—speak a compelling truth: recycling isn't just green; it's genius.
Market Size and Growth
- Global scrap metal recycling market size reached USD 456.2 billion in 2022 and is projected to grow to USD 652.8 billion by 2030 at a CAGR of 4.6%
- U.S. ferrous scrap exports totaled 17.2 million metric tons in 2023, valued at $6.8 billion, marking a 12% increase from 2022
- European scrap steel market valued at €45 billion in 2023, with Germany leading at 22% share
- India’s scrap metal imports surged to 12.5 million tonnes in FY2023, up 15% YoY, driven by infrastructure boom
- Global copper scrap market size was $28.4 billion in 2023, expected to reach $41.2 billion by 2032 at 4.2% CAGR
- China consumed 220 million metric tons of steel scrap in 2023, accounting for 47% of global total
- U.S. scrap metal recycling industry generated $117 billion in revenue in 2022
- Middle East scrap steel market projected to grow from $5.2 billion in 2023 to $8.1 billion by 2030 at 6.5% CAGR
- Brazil’s ferrous scrap consumption hit 15.8 million tons in 2023, up 8% from prior year
- Aluminum scrap market globally valued at $35.6 billion in 2023, with automotive sector contributing 28%
- Turkey imported 18.4 million metric tons of scrap in 2023, valued at $7.9 billion
- Global e-scrap (WEEE) market size estimated at $50 billion in 2023, growing at 7.1% CAGR to 2030
- Japan’s steel scrap usage reached 33 million tons in FY2023, 85% of steel production input
- Southeast Asia scrap metal market to expand from $12.3 billion in 2023 to $19.8 billion by 2029
- U.S. non-ferrous scrap exports were 1.4 million tons in 2023, worth $4.2 billion
- Russia’s scrap exports dropped to 4.1 million tons in 2023 due to sanctions, down 25%
- Global lead-acid battery scrap recycling market at $22 billion in 2023
- South Korea steel scrap imports totaled 8.2 million tons in 2023, up 10%
- Africa’s scrap metal market valued at $3.8 billion in 2023, led by South Africa at 35% share
- Global stainless steel scrap market size $15.7 billion in 2023, CAGR 5.2% to 2030
- Mexico ferrous scrap consumption 12.1 million tons in 2023, 60% from domestic sources
- Global plastic scrap recycling market $42.5 billion in 2023, projected $68 billion by 2030
- UK scrap metal exports reached 6.5 million tons in 2023, valued at £2.1 billion
- Australia’s scrap steel market $4.2 billion in 2023, with exports to Asia at 70%
- Global nickel scrap market valued at $8.9 billion in 2023, driven by EV batteries
- Vietnam scrap imports hit 7.8 million tons in 2023, up 18% YoY
- Canada scrap exports 8.9 million tons in 2023, $3.5 billion value
- Global tire scrap recycling market $9.1 billion in 2023, CAGR 6.8%
- Indonesia steel scrap consumption 9.4 million tons in 2023, 45% imported
- U.S. internal scrap consumption for steel was 68 million tons in 2023
Market Size and Growth Interpretation
The world is frantically and profitably digging through its own pockets, with the $456 billion global scrap market growing nearly 5% annually as nations trade yesterday's cars and skyscrapers to build tomorrow's.
Recycling Rates and Volumes
- World steel scrap recycling rate 85% for prompt scrap in 2023
- U.S. recycled 69 million tons of steel scrap in 2023, saving 1.5 tons of iron ore per ton
- EU steel scrap recycling utilization rate 40.5% of total steel production in 2023
- Global aluminum recycling rate 75% for beverage cans, 22% overall in 2023
- India’s steel scrap recycling rate improved to 35% in FY2023 from 30%
- U.S. copper scrap recycled 2.1 million tons in 2022, 45% recovery rate
- China recycled 225 million tons of steel scrap in 2023, 51% of production
- Global lead recycling rate from batteries 99% in formal sector, 2023 data
- Brazil recycled 98% of aluminum cans in 2023, highest globally
- Japan’s steel scrap recycling rate 99.5% in electric arc furnaces
- U.S. paper recycling rate 66% in 2023, 37 million tons recovered
- Turkey steel scrap recycling volume 25 million tons processed in 2023
- Global e-waste formal recycling rate only 22.3% of 62 million tons in 2022
- South Korea recycled 95% of steel scrap used in production, 2023
- EU plastic scrap recycling rate 38% in 2023, 29 million tons
- U.S. tire recycling rate 79% in 2023, 310 million tires
- Global glass recycling rate averages 31%, 12 million tons recycled yearly
- Mexico recycled 4.5 million tons of steel scrap in 2023, 45% rate
- UK metal recycling rate 76% for steel products
- Australia aluminum recycling rate 72% from buildings, 2023
- Vietnam steel scrap recycling 6.5 million tons in 2023, rate 40%
- Canada recycled 2.8 million tons copper scrap, 50% recovery
- Global textile scrap recycling rate 13%, 7 million tons processed
- Russia steel scrap recycling 14 million tons, 70% rate, 2023
Recycling Rates and Volumes Interpretation
While we've turned metals like lead and steel into a nearly perfect circle of life with near-total recycling rates, our overall material habits remain a linear tragedy, as evidenced by the paltry recycling of e-waste, textiles, and plastics where we still can't seem to close the loop.
Scrap Generation and Supply
- U.S. generated 140 million metric tons of ferrous scrap in 2022 from obsolete and prompt sources
- Global steel scrap generation estimated at 720 million tons annually as of 2023
- EU-27 produced 55 million tons of steel scrap in 2023, with construction contributing 32%
- India generates 25 million tons of scrap per year, 50% informal sector
- Automotive sector worldwide generates 14 million tons of metal scrap annually from end-of-life vehicles
- U.S. prompt industrial scrap for steelmaking was 32 million tons in 2022
- China’s domestic scrap generation reached 190 million tons in 2023, up 5%
- Global obsolete scrap from appliances and consumer goods totals 120 million tons yearly
- Brazil generates 18 million tons of ferrous scrap annually, 40% from demolition
- Japan produces 28 million tons of scrap per year, 70% from manufacturing
- U.S. copper scrap generation from wire and cable was 1.8 million tons in 2022
- Turkey’s scrap supply chain handles 20 million tons annually, mostly imports but 5 million domestic
- Global e-waste generation hit 62 million tons in 2022, containing $91 billion in metals
- South Korea generates 12 million tons of steel scrap yearly from urban mining
- Africa produces 10 million tons of scrap annually, largely uncollected informal
- U.S. aluminum scrap from cans totaled 3.2 million tons in 2023
- Russia generates 15 million tons of ferrous scrap per year, 60% obsolete
- Global paper scrap generation 400 million tons annually
- Mexico’s scrap from manufacturing 8 million tons yearly
- UK generates 10 million tons of metal scrap per year from construction
- Australia produces 4.5 million tons of steel scrap annually, 55% exported
- Vietnam generates 6 million tons of scrap yearly, rising with urbanization
- Canada’s industrial scrap output 9 million tons per year for steel
- Global rubber scrap from tires 1.5 billion units equivalent to 17 million tons yearly
- Indonesia generates 7 million tons of ferrous scrap annually
- U.S. steel mill home scrap was 28 million tons in 2023
Scrap Generation and Supply Interpretation
While humanity diligently mines its own backyards, annually churning out a mountain of metal scrap so vast it would make even King Midas question his life choices, the true alchemy lies not in hoarding this treasure but in efficiently weaving it back into the very bones of our civilization.
Sources & References
- Reference 1GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 2TRADEtrade.govVisit source
- Reference 3EUROFEReurofer.euVisit source
- Reference 4STEELsteel.gov.inVisit source
- Reference 5FORTUNEBUSINESSINSIGHTSfortunebusinessinsights.comVisit source
- Reference 6WORLDSTEELworldsteel.orgVisit source
- Reference 7ISRIisri.orgVisit source
- Reference 8MORDORINTELLIGENCEmordorintelligence.comVisit source
- Reference 9SINDRIVASsindrivas.org.brVisit source
- Reference 10MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 11TCDDtcdd.gov.trVisit source
- Reference 12STATISTAstatista.comVisit source
- Reference 13JISPAjispa.or.jpVisit source
- Reference 14RESEARCHANDMARKETSresearchandmarkets.comVisit source
- Reference 15USGSusgs.govVisit source
- Reference 16RUSPROFILErusprofile.ruVisit source
- Reference 17ALLIEDMARKETRESEARCHalliedmarketresearch.comVisit source
- Reference 18KOSAkosa.or.krVisit source
- Reference 19AFRICANSTEELPRODafricansteelprod.comVisit source
- Reference 20BUSINESSRESEARCHINSIGHTSbusinessresearchinsights.comVisit source
- Reference 21CANACEROcanacero.org.mxVisit source
- Reference 22PRECEDENCERESEARCHprecedenceresearch.comVisit source
- Reference 23GOVgov.ukVisit source
- Reference 24AUSIMMausimm.comVisit source
- Reference 25TRANSPARENCYMARKETRESEARCHtransparencymarketresearch.comVisit source
- Reference 26VSAvsa.com.vnVisit source
- Reference 27NATURAL-RESOURCESnatural-resources.canada.caVisit source
- Reference 28FACTMRfactmr.comVisit source
- Reference 29INDO-STEELindo-steel.orgVisit source
- Reference 30AISIaisi.orgVisit source
- Reference 31EUROSTATeurostat.ec.europa.euVisit source
- Reference 32CPCBcpcb.nic.inVisit source
- Reference 33ACEAacea.autoVisit source
- Reference 34CHINASTAchinasta.orgVisit source
- Reference 35BIRbir.orgVisit source
- Reference 36RECICLAGEMreciclagem.com.brVisit source
- Reference 37JFE-STEELjfe-steel.co.jpVisit source
- Reference 38COPPERcopper.orgVisit source
- Reference 39TUDERtuder.org.trVisit source
- Reference 40ITUitu.intVisit source
- Reference 41POSCOposco.comVisit source
- Reference 42UNEPunep.orgVisit source
- Reference 43ALUMINUMaluminum.orgVisit source
- Reference 44RUSMETALLrusmetall.ruVisit source
- Reference 45RESOURCE-RECYCLINGresource-recycling.comVisit source
- Reference 46SEMARNATsemarnat.gob.mxVisit source
- Reference 47STEELsteel.org.auVisit source
- Reference 48MONREmonre.gov.vnVisit source
- Reference 49RECYCLINGTODAYrecyclingtoday.comVisit source
- Reference 50TYREREANDRUBBERRECYCLINGtyrereandrubberrecycling.comVisit source
- Reference 51BAPPENASbappenas.go.idVisit source
- Reference 52STEELsteel.orgVisit source
- Reference 53INTERNATIONAL-ALUMINIUMinternational-aluminium.orgVisit source
- Reference 54MINERALRESOURCESmineralresources.mp.gov.inVisit source
- Reference 55COPPERALLIANCEcopperalliance.usVisit source
- Reference 56CHINASTEELchinasteel.org.cnVisit source
- Reference 57ILZSGilzsg.orgVisit source
- Reference 58ABRALATASabralatas.org.brVisit source
- Reference 59JSWAjswa.jpVisit source
- Reference 60AFANDPAafandpa.orgVisit source
- Reference 61DCUDdcud.org.trVisit source
- Reference 62EWASTEMONITORewastemonitor.infoVisit source
- Reference 63KOSEPAkosepa.or.krVisit source
- Reference 64ECec.europa.euVisit source
- Reference 65USTIRESustires.orgVisit source
- Reference 66GPIgpi.orgVisit source
- Reference 67ANPRanpr.org.mxVisit source
- Reference 68RECYCLENOWrecyclenow.comVisit source
- Reference 69ALUMINIUMaluminium.org.auVisit source
- Reference 70VASvas.org.vnVisit source
- Reference 71RECYCLINGCOUNCILrecyclingcouncil.caVisit source
- Reference 72WRIGwrig.orgVisit source
- Reference 73ICRAicra.inVisit source
- Reference 74STATSstats.gov.cnVisit source
- Reference 75FENATSCRAPfenatscrap.com.brVisit source
- Reference 76METImeti.go.jpVisit source
- Reference 77HUBEXPORThubexport.org.trVisit source
- Reference 78KOSTATkostat.go.krVisit source
- Reference 79AFDBafdb.orgVisit source
- Reference 80INEGIinegi.org.mxVisit source
- Reference 81BMFbmf.org.ukVisit source
- Reference 82AIIAaiia.com.auVisit source
- Reference 83GSOgso.gov.vnVisit source
- Reference 84CARMEUSEcarmeuse.comVisit source
- Reference 85GKSgks.ruVisit source
- Reference 86NICKELINSTITUTEnickelinstitute.orgVisit source
- Reference 87BPSbps.go.idVisit source
- Reference 88CEEWceew.inVisit source
- Reference 89COPPERALLIANCEcopperalliance.euVisit source
- Reference 90CMAcma.org.cnVisit source
- Reference 91BASFbasf.comVisit source
- Reference 92ENVenv.go.jpVisit source
- Reference 93EPAepa.govVisit source
- Reference 94CEVREcevre.gov.trVisit source
- Reference 95UNITARunitar.orgVisit source
- Reference 96ENGeng.me.go.krVisit source
- Reference 97PLASTICSRECYCLINGplasticsrecycling.orgVisit source
- Reference 98RMArma.orgVisit source
- Reference 99GOBgob.mxVisit source
- Reference 100GAga.com.auVisit source
- Reference 101ELLENMACARTHURFOUNDATIONellenmacarthurfoundation.orgVisit source
- Reference 102MINPROMTORGminpromtorg.gov.ruVisit source