Scrap metal recycling refers to the process of separating useful substances from waste materials and converting them into recycled products through physical or mechanical processing.

With the rapid development of industrialization, a large amount of waste metals are generated, such as steel, copper, aluminum, etc. If these waste metals are not recycled, they will not only cause a waste of resources but also cause serious pollution to the environment. The scrap metal recycling not only helps to reduce environmental pollution but also saves a lot of natural resources, which is of great significance for achieving sustainable development.

Overview of Market Development

In recent years, the US government and businesses have attached increasing importance to the recycling and utilization of waste metals, promoting the rapid development of the scrap metal recycling market through measures such as formulating relevant policies and regulations, constructing recycling facilities, and promoting recycling technologies. At the same time, with the continuous progress of technology, the recycling rate of waste metals is also constantly improving, which provides strong support for the further development of the market.

According to our research data, the size of the US scrap metal recycling market reached $33.79 billion in 2023, an increase of 14.40% compared to 2022. In the future, with the continuous improvement of environmental awareness and the increasing scarcity of resources, the market will continue to maintain a rapid development trend. It is expected that by 2028, the size of the US scrap metal recycling market will increase to $63.07 billion.

Analysis of Market Competition Pattern

From the perspective of market competition, the concentration of the US scrap metal recycling market is relatively low. The data shows that in 2023, the total sales revenue of the scrap metal recycling market of the top 3 enterprises in the industry was $71.10 billion, with a total share of 21.04%; The total sales revenue of the scrap metal recycling market of Top 6 enterprises was $11.77 billion, with a total share of only 34.83%. The top three companies were Sims Metal Management, OmniSource, and Nucor Corporation. In 2023, these three companies accounted for 8.52%, 7.33%, and 5.19% of the US market sales revenue in the scrap metal recycling market, respectively.

Source: www.globalmarketmonitor.com

Segmented Market Analysis

According to the different colors, compositions, and properties of metals, scrap metal recycling can be divided into two categories: ferrous scrap metal recycling and non-ferrous scrap metal recycling. Among them, the non-ferrous scrap metal recycling occupies a larger market share. According to our data, in 2023, in the US scrap metal recycling market, the size of the non-ferrous scrap metal recycling sub-market was $17.63 billion, with a market share of 52.18%.

US Scrap Metal Recycling Market Size and Share by Type in 2023

Types	Market Size (Billion USD)	Market Share
Ferrous ScrapMetal Recycling	16.16	47.82%
Non-Ferrous Scrap Metal Recycling	17.63	52.18%