Recycled copper is gaining popularity, owing to its cost efficiency since the production process consumes much less energy. Wiring and electrical applications are the key focus point for companies in the recycled copper market since recycled copper retains its electrical conductivity. The rising awareness about the advantages posed by recycled copper has fueled the adoption rate of recycled copper in various industries. According to the European Copper Institute, about 50% of the copper demand in the region is met by recycling. Furthermore, the fact that recycling copper uses about 85% lesser energy than its primary production has been a key reason for the consumers to shift to recycled copper. Rise in awareness about environment sustainability among manufacturers and consumers is projected to drive the recycled copper market during the forecast period. As copper manufacturers have started adopting advanced energy management systems to lower their environmental footprint.
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The coronavirus pandemic declared as public health emergency worldwide by World Health Organization (WHO). Government across nations implemented lockdown and ban on travelling, shutdown of manufacturing industries, commercial activities this had severely disrupted the supply chain. The corresponding downturn in the global manufacturing sector has further affected the growth of the recycled copper market. The shortage in manufacturing of new electric appliance and electronic goods due to shutdown of work and low workforce capacity had also impacted the market.
In addition, the building and construction activities across the region were put on halt during the surge in the number of Coronavirus cases has also impacted the market size of recycled copper market. Moreover, with the help of virtual events, companies in the recycled copper market are gaining ideas of buoyancy to continue business in a slow growing market. However, in the long run the market is expected to have significant growth rate owing to the surging automobile industry coupled with growing electronic good manufacturers in China is propelling the market size recycled copper.
According to UnivDatos Market Insights (UMI)’ research report “global Recycled Copper market” expected to grow at a CAGR of around 4% during the forecast period (2021-2027). Copper is among the most valuable metals available when it comes to scrap collection and recycling. With an infinite recyclable life, copper is used and reused in motors, computers, construction, industrial machinery and more. However, the prices of the copper depend largely on the grade of scrap copper. As different recycling centers and scrap dealerships tend to have their own prices based on their own classifications for their best prices.
Moreover, the demand for copper has increased in several industries over the years with a major part of the demand coming from industries like building construction, power generation, and transmission, electronic product manufacturing, and the production of industrial machinery and vehicles. The key factors expected to be driving the market during the forecast period is that the use of recycled copper diminishes the requirement of a new landfill for the copper to be disposed of, which has proven to be a lot more beneficial for large industries and has proved to be an efficient way to reduce operational costs.
Based on Copper Scrap Grade, the recycled copper market is segmented into bare bright copper, # 1 copper, # 2 copper, # 1 insulated wire and others. The bare bright copper segment catered significant demand in recycled copper market. Bare bright copper is by far the first among the types a scrap dealer would like to find owing to its bright & shiny color texture. Moreover, it is valued at high price and considered as most valuable product in the scarp.
Based on Application, the recycled copper market is segmented into building & construction, transportation, industrial machinery & equipment, electrical and electronics and others. The electrical and electronics segment holds the considerable market share in recycled copper market. As recycled copper is employed in a wide range of applications in power generation, distribution, and transmission industry, due to its high electric and thermal resistance.
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Asia Pacific to witness highest growth
Based on region, the report provides detail analysis for overall adoption of Recycled copper in major region including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), Rest of World. Asia Pacific holds the extensive market share owing to the surging electronic manufacturers in China coupled with increasing demand for recycled copper in construction and power generation, distribution & transmission industries is anticipated to positively impact the market in the region.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Recycled copper market are Aurubis AG, Commercial Metals Company, Schnitzer Steel Industries, Inc., Umicore N.V., Kuusakoski Group Oy, Sims Metal Management Ltd., OmniSource, LLC, Elgin Recycling, Pacific Metal Pty Ltd, Universal Recycling. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
“Global Recycled copper Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
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Market Segmentations:
1. By Copper Scrap Grade (Bare Bright Copper, # 1 Copper, # 2 Copper, # 1 Insulated Wire, and Others)
2. By Application (Building & Construction, Transportation, Industrial Machinery & Equipment, Electrical and Electronics and Others)
3. By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)
4. By Company (Aurubis AG, Commercial Metals Company, Schnitzer Steel Industries, Inc., Umicore N.V., Kuusakoski Group Oy, Sims Metal Management Ltd., OmniSource, LLC, Elgin Recycling, Pacific Metal Pty Ltd, Universal Recycling)
Key questions answered in the study:
1. What are the current and future trends of the global recycled copper industry?
2. How the industry has been evolving in terms of copper scrap grade and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global recycled copper industry?
5. What is the customer orientation, purchase behavior, and expectations from the global recycled copper suppliers across various region and countries?
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Table of Content:-
1. MARKET INTRODUCTION
2. RESEARCH METHODOLOGY OR ASSUMPTION
3. MARKET SYNOPSIS
4. EXECUTIVE SUMMARY
5 GLOBAL RECYCLED COPPER MARKET COVID-19 IMPACT
6 GLOBAL RECYCLED COPPER MARKET REVENUE 2019-2027F
7 MARKET INSIGHTS BY COPPER SCRAP GRADE
8 MARKET INSIGHTS BY APPLICATION
9 MARKET INSIGHTS BY REGION
10 RECYCLED COPPER MARKET DYNAMICS
11 RECYCLED COPPER MARKET OPPORTUNITIES
12 RECYCLED COPPER MARKET TRENDS
13 LEGAL & REGULATORY FRAMEWORK
14 DEMAND AND SUPPLY SIDE ANALYSIS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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