The global wire and cable recycling market was valued at US$ 7.1 Million in 2021 and is projected to reach US$ 12.8 Billion by the end of 2031, growing at a CAGR of 6.2% from 2022 to 2031, according to Transparency Market Research (TMR), a leading global market research organization.
Governments and industries worldwide are prioritizing the reduction of greenhouse gas emissions. To mitigate severe climate impacts, global net human-caused carbon dioxide emissions need to decrease by around 45% from 2010 levels by 2030 and achieve net zero by 2050.
These sustainability efforts have led to electrification across various sectors, significantly driving demand for copper, which is a key factor propelling the growth of the wire and cable recycling market.
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Key Insights into the Wire and Cable Recycling Market
- Growing Preference for Recycled Metals: Governments and businesses are focusing on reducing waste and increasing the use of recycled materials to promote a circular economy.
- Telecommunications Sector Investments: Major telecom operators are ramping up copper recycling initiatives to achieve sustainable development.
- Policy Changes to Support Recycling: New regulations promoting imports of recycled metals are positively influencing market growth.
Sustainability and Recycling Policies Driving Market Expansion
Efforts to reduce emissions in energy-intensive industries have increased the adoption of recycled metals, particularly copper, due to its role in electricity transmission. Countries are implementing stricter regulations to prevent becoming dumping grounds for waste materials, boosting demand for recycled products.
In July 2024, China introduced draft regulations allowing greater imports of recycled copper and aluminum. These policy changes are enhancing industry competitiveness and are expected to significantly benefit the wire and cable recycling market.
According to the International Copper Study Group (ICSG), global primary and recycled-content refined copper production increased by approximately 6% in the first five months of 2024, with China playing a major role in this growth. The regulatory support has also encouraged the rise of secondary smelters and refineries.
Investments from Telecom Operators
Telecom companies like AT&T Inc., BT Group Plc, and Orange SA are investing heavily in copper recycling initiatives.
- AT&T recycled over 14,000 tons of copper between 2021 and 2023.
- Open reach Ltd., a subsidiary of BT Group Plc, aims to recover 200,000 tons of copper by the 2030s.
These efforts are expected to create lucrative opportunities for stakeholders in the wire and cable recycling market.
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Regional Insights
- Europe held the largest market share in 2022 and is expected to maintain its dominance during the forecast period due to strict environmental regulations and strong recycling initiatives.
- The market in Asia Pacific is anticipated to grow steadily as major metal manufacturers continue investing in recycling infrastructure.
In April 2024, Japan and Europe collaborated on establishing a system to share data about mineral extraction and suppliers for EV battery production. This move aims to reduce reliance on Chinese suppliers and is enhancing the market’s share in Europe.
In India, leading manufacturers such as Hindalco Industries are actively investing in recycling facilities, while government agencies are working to standardize recycled materials to mitigate risks like electrical fires.
Leading Players in the Industry
Prominent companies in the wire and cable recycling market include:
- ANDRITZ
- COHEN
- ELDAN Recycling A/S
- NKT
- MTB Recycling
- Bolduc Metal Recycling Inc.
- Stena Metall Group
- Aurubis AG
- Henan Renewable Energy Technology Co., Ltd
Recent Developments
In January 2024, Loacker Recycling GmbH, a recycling solutions provider, partnered with Lindner-Recyclingtech GmbH to expand its wire and cable recycling operations in Germany.
Market Segmentation
By Source:
- Household Cables
- Industrial Cables
- Underground Cables
- Others
By Material:
Insulating Material:
- Polyvinyl Chloride (PVC)
- Ethylene Propylene
- Styrene-butadiene Rubber (SBR)
- Ethyl Vinyl Acetate
- Polyethylene
- Others
Conducting Material:
- Copper
- Aluminum
- Others
By Cable Type:
- Low Tension Cables
- Medium Tension Cables
- High Tension Cables
By End-use:
Insulating Material:
- Plastic Products
- Concrete Products
- Wood Products
- Others
Conducting Material:
- Transport
- Construction
- Electronics
- Others
Key Strategies for Growth
To remain competitive, leading companies are focusing on:
- Expanding their recycling capabilities
- Forming strategic partnerships to enhance market share
- Adhering to strict quality and safety standards in recycled products
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