The recycled metals industry is growing domestically and internationally, in part fueled by the rapid expansion of construction and automotive manufacturing. Now, tariffs may be giving it a boost.
The U.S. market for scrap metal recycling registered a growth of 3.7 percent between 2017 and 2021. The global recycled metals market is expected to expand 6 percent from 2025 to 2034, according to an analysis by Precedence Research. It was valued at $2.8 billion in 2024.