U.S. Copper Scrap Market Size, Share & Trends Analysis Report By Application (Wire Rod Mills, Bar Mills, Ingot Makers, Foundries & Other Industries), By Region (Northeast, Midwest, West, South), And Segment Forecasts, 2022 - 2030
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U.S. Copper Scrap Market Growth & Trends
The U.S. copper scrap market size is expected to reach USD 900.6 million by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.2% from 2022 to 2030. Demand for recycled copper in foundries and ingot-making applications is projected to boost the market growth.
Copper scrap finds applications in foundries such as casting plants, bronze products, and gunmetal products. Copper casting parts made from copper alloys and bronze are used in construction, electrical, mining, oil & gas, general, and industrial applications. This segment is projected to grow on account of favorable properties of copper such as corrosion resistance, weathering resistance, low maintenance, recyclability, superior strength, magnetic permeability, electrical conductivity, and ease of fabrication.
With electrification increasing at a rapid pace in the automobile industry, the demand for metals necessary for the transition from ICE vehicles to electric vehicles is projected to rise over the coming years. The share of EVs sales as a proportion of total vehicles has been growing. For instance, EVs sales reached 3.6% of total EV sales, in Q2 2021, as reported by Alternative Fuels Data Center.
The irregular supply of copper scrap is one of the major challenges in the industry and thus restrains the growth of the market. Loss of copper scrap occurs as most of the scrap ends up in landfill sites. The availability of scrap is also adversely impacted by the long-life cycle of copper products. It is tied up for 10 to 20 years in the transportation sector, more than 30 years in construction and infrastructure, and between 10 to 30 years in the industrial machinery & equipment sector, before it becomes available for recycling.
Technology upgrades and investments are required to improve the recycling rate around the world. This involves more machinery & equipment for scrap processing and separation, trucks and vehicles to transport scrap, technological upgrades to handle diverse, complex, and rapidly changing material compositions, and product miniaturization. Thus, these considerable hurdles restrain the growth of the copper market, as copper scrap is not available regularly for optimized production.
Private investments in the scrap sector are growing. For instance, in the U.S. Aurubis AG has targeted investment for three actions: expanding its recycling capacity including e-waste or electronic scrap, upgrading technology to convert complex materials into high-grade scrap, and developing closed loops for customers, which can end the cycle of metal waste. Similar investments have been witnessed to be on the rise in other regions such as Europe and China.
U.S. Copper Scrap Market Report Highlights
U.S. Copper Scrap Market Growth & Trends
The U.S. copper scrap market size is expected to reach USD 900.6 million by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.2% from 2022 to 2030. Demand for recycled copper in foundries and ingot-making applications is projected to boost the market growth.
Copper scrap finds applications in foundries such as casting plants, bronze products, and gunmetal products. Copper casting parts made from copper alloys and bronze are used in construction, electrical, mining, oil & gas, general, and industrial applications. This segment is projected to grow on account of favorable properties of copper such as corrosion resistance, weathering resistance, low maintenance, recyclability, superior strength, magnetic permeability, electrical conductivity, and ease of fabrication.
With electrification increasing at a rapid pace in the automobile industry, the demand for metals necessary for the transition from ICE vehicles to electric vehicles is projected to rise over the coming years. The share of EVs sales as a proportion of total vehicles has been growing. For instance, EVs sales reached 3.6% of total EV sales, in Q2 2021, as reported by Alternative Fuels Data Center.
The irregular supply of copper scrap is one of the major challenges in the industry and thus restrains the growth of the market. Loss of copper scrap occurs as most of the scrap ends up in landfill sites. The availability of scrap is also adversely impacted by the long-life cycle of copper products. It is tied up for 10 to 20 years in the transportation sector, more than 30 years in construction and infrastructure, and between 10 to 30 years in the industrial machinery & equipment sector, before it becomes available for recycling.
Technology upgrades and investments are required to improve the recycling rate around the world. This involves more machinery & equipment for scrap processing and separation, trucks and vehicles to transport scrap, technological upgrades to handle diverse, complex, and rapidly changing material compositions, and product miniaturization. Thus, these considerable hurdles restrain the growth of the copper market, as copper scrap is not available regularly for optimized production.
Private investments in the scrap sector are growing. For instance, in the U.S. Aurubis AG has targeted investment for three actions: expanding its recycling capacity including e-waste or electronic scrap, upgrading technology to convert complex materials into high-grade scrap, and developing closed loops for customers, which can end the cycle of metal waste. Similar investments have been witnessed to be on the rise in other regions such as Europe and China.
U.S. Copper Scrap Market Report Highlights
- In terms of application, the brass mills segment is projected to remain the fastest-growing segment with a CAGR of 4.9% from 2022 to 2030. Brass mills melt and produce alloy materials to further manufacture tubes, sheets, strips, bars, rods, extrusions, forgings, and mechanical wires
- The West U.S. is projected to grow at a lucrative growth rate over the forecast period. The investments in copper recycling facilities by foreign and local players are projected to benefit the market growth
- The rising demand for electric vehicles (EVs) is projected to push the demand for copper and thus copper scrap. EVs required 3 to 4 times more copper compared to internal combustion engine vehicles
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Snapshot, 2021 (USD Million)
2.2. Segmental Outlook
CHAPTER 3. U.S. COPPER SCRAP MARKET VARIABLES, TRENDS, AND SCOPE
3.1. Market Segmentation & Scope
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Major Raw Material Trends
3.3.2. List of Key End-Users
3.3.3. List of Ferrous Scrap Suppliers
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Impact of COVID-19
3.7. Market Dynamics
3.7.1. Market Driver Analysis
3.7.2. Market Restraint Analysis
3.7.3. Industry Opportunities
3.7.4. Industry Challenges
3.8. Industry Analysis – Porter’s Five Forces
3.8.1. Supplier Power
3.8.2. Buyer Power
3.8.3. Substitution Threat
3.8.4. Threat from New Entrant
3.8.5. Competitive Rivalry
3.9. PESTEL Analysis
CHAPTER 4. U.S. COPPER SCRAP MARKET: APPLICATION OUTLOOK ESTIMATES & FORECASTS
4.1. Definition & Scope
4.2. Application Movement Analysis, 2021 & 2030
4.3. Wire Rod Mills
4.3.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
4.4. Brass Mills
4.4.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
4.5. Ingot Makers
4.5.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
4.6. Foundries and Other Industries
4.6.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
CHAPTER 5. U.S. COPPER SCRAP MARKET REGIONAL OUTLOOK ESTIMATES & FORECASTS
5.1. U.S. Copper Scrap Market: Regional Movement Analysis, 2021 & 2030
5.2. Northeast
5.2.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
5.2.2. Market estimates and forecast, by application, 2017 - 2030 (USD Million) (Kilotons)
5.3. Midwest
5.3.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
5.3.2. Market estimates and forecast, by application, 2017 - 2030 (USD Million) (Kilotons)
5.4. West
5.4.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
5.4.2. Market estimates and forecast, by application, 2017 - 2030 (USD Million) (Kilotons)
5.5. South
5.5.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
5.5.2. Market estimates and forecast, by application, 2017 - 2030 (USD Million) (Kilotons)
CHAPTER 6. COMPETITIVE ANALYSIS
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Company Categorization (Key Innovators, Market Leaders, Emerging Players)
6.3. Vendor Landscape
6.3.1. List of Key Suppliers or Traders
6.3.2. List of Prospective Customers
CHAPTER 7. COMPANY PROFILES
7.1. Schnitzer Steel Industries, Inc.
7.1.1. Company Overview
7.1.2. Product Benchmarking
7.1.3. Strategic Initiatives
7.2. Commercial Metals Company (CMC)
7.2.1. Company Overview
7.2.2.Product Benchmarking
7.3. Alte r Trading Inc.
7.3.1. Company Overview
7.3.2. Product Benchmarking
7.4. EMR USA Holdings Inc.
7.4.1. Company Overview
7.4.2. Product Benchmarking
7.5. Ferrous Processing and Trading (FPT)
7.5.1. Company Overview
7.5.2. Financial Performance
7.5.3. Product Benchmarking
7.5.4. Strategic Initiatives
7.6. Kimmel Scrap Iron & Metal Co, Inc.
7.6.1. Company Overview
7.6.2. Product Benchmarking
7.7. OmniSource, LLC
7.7.1. Company Overview
7.7.2. Product Benchmarking
7.8. SCRAP PROCESSORS, INC.
7.8.1. Company Overview
7.8.2. Product Benchmarking
7.9. Sims Limited
7.9.1. Company Overview
7.9.2. Financial Performance
7.9.3. Product Benchmarking
7.10. The David J. Joseph Company
7.10.1. Company Overview
7.10.2. Product Benchmarking
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Snapshot, 2021 (USD Million)
2.2. Segmental Outlook
CHAPTER 3. U.S. COPPER SCRAP MARKET VARIABLES, TRENDS, AND SCOPE
3.1. Market Segmentation & Scope
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Major Raw Material Trends
3.3.2. List of Key End-Users
3.3.3. List of Ferrous Scrap Suppliers
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Impact of COVID-19
3.7. Market Dynamics
3.7.1. Market Driver Analysis
3.7.2. Market Restraint Analysis
3.7.3. Industry Opportunities
3.7.4. Industry Challenges
3.8. Industry Analysis – Porter’s Five Forces
3.8.1. Supplier Power
3.8.2. Buyer Power
3.8.3. Substitution Threat
3.8.4. Threat from New Entrant
3.8.5. Competitive Rivalry
3.9. PESTEL Analysis
CHAPTER 4. U.S. COPPER SCRAP MARKET: APPLICATION OUTLOOK ESTIMATES & FORECASTS
4.1. Definition & Scope
4.2. Application Movement Analysis, 2021 & 2030
4.3. Wire Rod Mills
4.3.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
4.4. Brass Mills
4.4.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
4.5. Ingot Makers
4.5.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
4.6. Foundries and Other Industries
4.6.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
CHAPTER 5. U.S. COPPER SCRAP MARKET REGIONAL OUTLOOK ESTIMATES & FORECASTS
5.1. U.S. Copper Scrap Market: Regional Movement Analysis, 2021 & 2030
5.2. Northeast
5.2.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
5.2.2. Market estimates and forecast, by application, 2017 - 2030 (USD Million) (Kilotons)
5.3. Midwest
5.3.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
5.3.2. Market estimates and forecast, by application, 2017 - 2030 (USD Million) (Kilotons)
5.4. West
5.4.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
5.4.2. Market estimates and forecast, by application, 2017 - 2030 (USD Million) (Kilotons)
5.5. South
5.5.1. Market estimates and forecast, 2017 - 2030 (USD Million) (Kilotons)
5.5.2. Market estimates and forecast, by application, 2017 - 2030 (USD Million) (Kilotons)
CHAPTER 6. COMPETITIVE ANALYSIS
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Company Categorization (Key Innovators, Market Leaders, Emerging Players)
6.3. Vendor Landscape
6.3.1. List of Key Suppliers or Traders
6.3.2. List of Prospective Customers
CHAPTER 7. COMPANY PROFILES
7.1. Schnitzer Steel Industries, Inc.
7.1.1. Company Overview
7.1.2. Product Benchmarking
7.1.3. Strategic Initiatives
7.2. Commercial Metals Company (CMC)
7.2.1. Company Overview
7.2.2.Product Benchmarking
7.3. Alte r Trading Inc.
7.3.1. Company Overview
7.3.2. Product Benchmarking
7.4. EMR USA Holdings Inc.
7.4.1. Company Overview
7.4.2. Product Benchmarking
7.5. Ferrous Processing and Trading (FPT)
7.5.1. Company Overview
7.5.2. Financial Performance
7.5.3. Product Benchmarking
7.5.4. Strategic Initiatives
7.6. Kimmel Scrap Iron & Metal Co, Inc.
7.6.1. Company Overview
7.6.2. Product Benchmarking
7.7. OmniSource, LLC
7.7.1. Company Overview
7.7.2. Product Benchmarking
7.8. SCRAP PROCESSORS, INC.
7.8.1. Company Overview
7.8.2. Product Benchmarking
7.9. Sims Limited
7.9.1. Company Overview
7.9.2. Financial Performance
7.9.3. Product Benchmarking
7.10. The David J. Joseph Company
7.10.1. Company Overview
7.10.2. Product Benchmarking
LIST OF TABLES
TABLE 1 U.S. copper scrap market estimates & forecasts 2017 - 2030 (USD Million) (Kilotons)
TABLE 2 U.S. copper scrap market estimates and forecasts, in wire rod mills 2017 - 2030 (USD Million) (Kilotons)
TABLE 3 U.S. copper scrap market estimates and forecasts, in brass mills 2017 - 2030 (USD Million) (Kilotons)
TABLE 4 U.S. copper scrap market estimates and forecasts, in ingot makers 2017 - 2030 (USD Million) (Kilotons)
TABLE 5 U.S. copper scrap market estimates and forecasts, in foundries and other industries 2017 - 2030 (USD Million) (Kilotons)
TABLE 6 Northeast U.S. copper scrap market estimates & forecasts 2017 - 2030 (USD Million) (Kilotons)
TABLE 7 Northeast U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (USD Million)
TABLE 8 Northeast U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (Kilotons)
TABLE 9 Midwest U.S. copper scrap market estimates & forecasts 2017 - 2030 (USD Million) (Kilotons)
TABLE 10 Midwest U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (USD Million)
TABLE 11 Midwest U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (Kilotons)
TABLE 12 West U.S. copper scrap market estimates & forecasts 2017 - 2030 (USD Million) (Kilotons)
TABLE 13 West U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (USD Million)
TABLE 14 West U.S. Copper Scrap market estimates & forecasts, by application 2017 - 2030 (Kilotons)
TABLE 15 South U.S. copper scrap market estimates & forecasts 2017 - 2030 (USD Million) (Kilotons)
TABLE 16 South U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (USD Million)
TABLE 17 South U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (Kilotons)
TABLE 1 U.S. copper scrap market estimates & forecasts 2017 - 2030 (USD Million) (Kilotons)
TABLE 2 U.S. copper scrap market estimates and forecasts, in wire rod mills 2017 - 2030 (USD Million) (Kilotons)
TABLE 3 U.S. copper scrap market estimates and forecasts, in brass mills 2017 - 2030 (USD Million) (Kilotons)
TABLE 4 U.S. copper scrap market estimates and forecasts, in ingot makers 2017 - 2030 (USD Million) (Kilotons)
TABLE 5 U.S. copper scrap market estimates and forecasts, in foundries and other industries 2017 - 2030 (USD Million) (Kilotons)
TABLE 6 Northeast U.S. copper scrap market estimates & forecasts 2017 - 2030 (USD Million) (Kilotons)
TABLE 7 Northeast U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (USD Million)
TABLE 8 Northeast U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (Kilotons)
TABLE 9 Midwest U.S. copper scrap market estimates & forecasts 2017 - 2030 (USD Million) (Kilotons)
TABLE 10 Midwest U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (USD Million)
TABLE 11 Midwest U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (Kilotons)
TABLE 12 West U.S. copper scrap market estimates & forecasts 2017 - 2030 (USD Million) (Kilotons)
TABLE 13 West U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (USD Million)
TABLE 14 West U.S. Copper Scrap market estimates & forecasts, by application 2017 - 2030 (Kilotons)
TABLE 15 South U.S. copper scrap market estimates & forecasts 2017 - 2030 (USD Million) (Kilotons)
TABLE 16 South U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (USD Million)
TABLE 17 South U.S. copper scrap market estimates & forecasts, by application 2017 - 2030 (Kilotons)
LIST OF FIGURES
Fig 1. U.S. copper scrap market segmentation
Fig 2. Information procurement
Fig 3. Primary research pattern
Fig 4. Primary research process
Fig 5. Primary research approaches
Fig 6. U.S. copper scrap market – Segmental outlook
Fig 7. Competitive insights
Fig 8. U.S. copper scrap market 2017 - 2030 (USD Million) (Kilotons)
Fig 9. Penetration & growth prospect mapping, by application, 2021 (USD Million)
Fig 10. U.S. copper scrap market – Value chain analysis
Fig 11. Market dynamics
Fig 12. Market driver analysis
Fig 13. Market restraint analysis
Fig 14. U.S. copper scrap market: Application movement analysis, 2021 & 2030
Fig 15. U.S. copper scrap market: Regional movement analysis, 2021 & 2030
Fig 1. U.S. copper scrap market segmentation
Fig 2. Information procurement
Fig 3. Primary research pattern
Fig 4. Primary research process
Fig 5. Primary research approaches
Fig 6. U.S. copper scrap market – Segmental outlook
Fig 7. Competitive insights
Fig 8. U.S. copper scrap market 2017 - 2030 (USD Million) (Kilotons)
Fig 9. Penetration & growth prospect mapping, by application, 2021 (USD Million)
Fig 10. U.S. copper scrap market – Value chain analysis
Fig 11. Market dynamics
Fig 12. Market driver analysis
Fig 13. Market restraint analysis
Fig 14. U.S. copper scrap market: Application movement analysis, 2021 & 2030
Fig 15. U.S. copper scrap market: Regional movement analysis, 2021 & 2030
