Global Rare Metal Recycling Services Market Size, Share, and COVID-19 Impact Analysis, By Source Material Type (Primary Raw Materials and Secondary Raw Materials), By Recycling Technology (Collection & Sorting, Mechanical Separation, Pyrometallurgical Processing, Hydrometallurgical Processing, Electrochemical Processes, and Separation & Purification Services), By Type of Rare Metals (Rare Earth Elements, and Platinum Group Metals), By End-User Industries (Automotive, Aerospace & Defense, Energy & Batteries, Industrial Manufacturing, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 - 2035

Global Rare Metal Recycling Services Market Insights Forecasts to 2035

• The Global Rare Metal Recycling Services Market Size Was Estimated at USD 2.1 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 12.67% from 2025 to 2035
• The Worldwide Rare Metal Recycling Services Market Size is Expected to Reach USD 7.8 Billion by 2035
• North America is expected to grow the fastest during the forecast period.

According to a research report published by Spherical Insights and Consulting, The Rare Metal Recycling Services Market Size was worth around USD 2.1 Billion in 2024 and is predicted to grow to around USD 7.8 Billion by 2035 with a compound annual growth rate (CAGR) of 12.67% from 2025 to 2035. The rare metal recycling services market presents significant opportunities, fueled by rising demand for rare earth elements in electric vehicles, electronics, and renewable energy. Growth is driven by technological advancements, regulatory support, and sustainable supply chain innovations.

Global Rare Metal Recycling Services Market Forecast and Revenue Outlook

• 2024 Market Size: USD 2.1 Billion
• 2035 Projected Market Size: USD 7.8 Billion
• CAGR (2025-2035): 12.67%
• Asia Pacific: Largest market in 2024
• North America: Fastest growing market

Market Overview

The methodical gathering, processing, and repurposing of valuable and rare metallic elements, such as rare earth metals, from industrial by-products and abandoned goods is included in the rare metal recycling services market. In order to address resource scarcity and lessen environmental, this industry requires specialist services for the recovery of important minerals, such as those used in electronics, renewable energy technologies, and advanced manufacturing. The circular economy and sustainable practices are supported by procedures like the extraction, purification, and reintroduction of these metals into supply chains. For Instance, in May 2025, Less Common Metals Ltd. (LCM), a manufacturer of rare earth metals and magnet alloys as well as other specialty materials, announced intentions to build a €110 million facility in France. LCM is situated in Cheshire, Northwest England. The supply chain for rare earths is intended to be strengthened by this advancement. LCM's rare earth metal and magnet alloy plant is planned to be built in Lacq, Southern France. The increasing demand for rare metals across various industries and the growing focus on sustainable practices are the primary drivers of this market's growth. The increased demand for rare metals in the electronics and automotive industries is driving a considerable expansion in the market for rare metal recycling services.

Key Market Insights

• Asia Pacific is expected to account for the largest share of the rare metal recycling services market during the forecast period.
• In terms of source material type, the primary raw materials segment is projected to lead the rare metal recycling services market throughout the forecast period
• In terms of recycling technology, the hydrometallurgical processing segment captured the largest portion of the market   
• In terms of type of rare metals, the rare earth elements segment is projected to lead the rare metal recycling services market throughout the forecast period
• In terms of end-user industries, the hydrometallurgical processing segment captured the largest portion of the market    

Rare Metal Recycling Services Market Trends

• The expansion of the electronics, automotive, and renewable energy industries is driving up demand for rare metals.
• Recycling is encouraged by environmental restrictions and a growing emphasis on sustainable resource management.
• Technological developments in recycling procedures are increasing recovery rates and efficiency.
• Increasing public and private sector investment in circular economy projects.
• Growing interruptions in the supply chain are drawing attention to secondary raw resources.

Report Coverage

This research report categorizes the rare metal recycling services market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyzes the key growth drivers, opportunities, and challenges influencing the rare metal recycling services market. Recent market developments and competitive strategies, such as expansion, type launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the rare metal recycling services market.

Driving factors

The growing need for rare metals in the automotive and electronics sectors is one of the key drivers of the rare metal recycling services market. The recovery process, which involves extracting valuable metals from various types of residues, such as used electronic devices and industrial waste, is one of the essential elements of rare metal recycling. These advancements have further expedited industry expansion by increasing the attractiveness and viability of rare metal recycling for businesses. These factors combine to set up the rare metal recycling industry for steady, sustained expansion on a worldwide basis. Recycling is becoming a more attractive and feasible choice for enterprises thanks to technological advancements, which are driving the rare metal recycling services market's expansion.

Restraining Factor

The market for rare metal recycling services is restricted by factors such as intricate extraction procedures, high operating expenses, inadequate infrastructure, difficult regulations, and erratic recyclable material supply, which make it difficult to scale and recover important rare earth elements efficiently.

Market Segmentation 

The global rare metal recycling services market is divided into source material type, recycling technology, type of rare metals, and end-user industries.  

Global Rare Metal Recycling Services Market, By Source Material Type:

• The primary raw materials segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.       

Based on source material type, the global rare metal recycling services market is segmented into primary raw materials and secondary raw materials. Among these, the primary raw materials segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The primary raw materials section is a result of the heavy reliance on metals that are directly obtained from mining operations, which still provide a sizable amount of the raw materials needed for a range of industrial uses. Primary raw materials resources are still necessary because of their accessibility and well-established extraction methods, even in the face of mounting environmental concerns.

The secondary raw materials segment in the rare metal recycling services market is expected to grow at the fastest CAGR over the forecast period. Growing environmental consciousness, improvements in recycling technologies, and encouraging regulatory frameworks that encourage sustainability and circular economy practices are all factors driving the expansion of the secondary raw materials segment.  

Global Rare Metal Recycling Services Market, By Recycling Technology:

• The hydrometallurgical processing segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.     

Based on recycling technology, the global rare metal recycling services market is segmented into collection & sorting, mechanical separation, pyrometallurgical processing, hydrometallurgical processing, electrochemical processes, and separation & purification services. Among these, the hydrometallurgical processing segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The hydrometallurgical processing segment is credited with effectively extracting rare metals through aqueous chemical solutions, which provides improved selectivity and environmental advantages over conventional techniques. The market is driven by its ability to recover high-purity metals from complicated sources, making it the preferred method in rare metal recycling.

The electrochemical processes segment in the rare metal recycling services market is expected to grow at the fastest CAGR over the forecast period. The technology used in the electrochemical processes industry uses electrical currents to help extract and purify metals, potentially improving selectivity and energy efficiency.   

Global Rare Metal Recycling Services Market, By Type of Rare Metals

• The rare earth elements segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.      

Based on type of rare metals, the global rare metal recycling services market is segmented into rare earth elements and platinum group metals. Among these, the rare earth elements segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The extensive use of rare earth elements (REEs) in vital sectors, including electronics, renewable energy, automotive, and defense, is the main driver of the rare earth elements market. The segment's dominant market position has been strengthened by the strong demand for REE recycling brought on by the crucial role that these elements play in the production of high-performance magnets, batteries, and catalysts.   

The platinum group metals segment in the rare metal recycling services market is expected to grow at the fastest CAGR over the forecast period. Growing environmental laws aimed at lowering vehicle emissions, as well as the growing use of PGMs in fuel cells, catalytic converters, and other industrial catalysts, are responsible for the platinum group metals segment's rise.  

Global Rare Metal Recycling Services Market, By End-User Industries

• The automotive segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.     

Based on application, the global rare metal recycling services market is segmented into automotive, aerospace & defense, energy & batteries, industrial manufacturing, and others. Among these, the automotive segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The need for rare metal recycling to maintain sustainable supply chains and lessen dependency on primary raw materials has increased dramatically due to the automotive industry's explosive growth, especially the growing popularity of electric and hybrid vehicles.  

The energy & batteries segment in the rare metal recycling services market is expected to grow at the fastest CAGR over the forecast period. The demand for batteries containing rare metals like lithium, cobalt, and nickel is driven by the growing market for electric vehicles and the spike in the use of renewable energy, which is largely responsible for the expansion of the energy and batteries market.  

Regional Segment Analysis of the Global Rare Metal Recycling Services Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific Rare Metal Recycling Services Market Trends

Asia Pacific is expected to hold the largest share of the global rare metal recycling services market over the forecast period.

The need for rare metal recycling services has grown as a result of the region's fast industrialization and urbanization, as well as the rising demand for electronics and automobiles. China, Japan, and South Korea are leading the way because of their vast manufacturing bases and aggressive recycling-promoting laws. According to official government announcements, the Asia Pacific region is expected to hold the largest share of the worldwide rare metal recycling services market during the course of the forecast period.  

China Rare Metal Recycling Services Market Trends

Official government declarations confirm the strong growth prospects of the China rare metal recycling services market. In order to maintain industrial leadership and ecological balance, these declarations highlight the Ministry of Industry and Information Technology's strict regulatory frameworks and innovative initiatives that support cutting-edge recycling technologies, enforce environmental compliance, and incorporate rare earth recovery into national supply chains.

North America Rare Metal Recycling Services Market Trends

North America is expected to grow at the fastest CAGR in the rare metal recycling services market during the forecast period.

North America region is demand for rare metal recycling services in North America is anticipated to be driven by the growing use of renewable energy and electric vehicles (EVs), as well as by increased awareness of electronic waste management.  Additionally, cooperative agreements with international organizations promote sustainable rare earth element extraction, reducing supply vulnerabilities, encouraging green technology innovation, and coordinating with national priorities for resource security and environmental preservation in the face of growing demands from the electric vehicle and renewable energy sectors.

United States Metal Recycling Services Market Trends

Government reports have revealed that the rare metal recycling services market in the United States is expected to grow significantly. In order to satisfy the demands of the high-tech industry, the Environmental Protection Agency's National Strategy for Electronics Stewardship promotes enhanced recycling and e-waste recovery, improving resource security and assisting sustainable manufacturing.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global rare metal recycling services market, along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

Worldwide Top Key Players in the Rare Metal Recycling Services Market Include

• Umicore
• Dowa Holdings Co., Ltd.
• Sims Metal Management Ltd.
• Heraeus Holding GmbH
• Johnson Matthey Plc
• Tanaka Precious Metals
• Materion Corporation
• Glencore International AG
• Boliden Group
• Asahi Holdings, Inc.
• Mitsubishi Materials Corporation
• Sims Recycling Solutions
• EnviroLeach Technologies Inc.
• JX Nippon Mining & Metals Corporation
• Metallica Commodities Corp.
• Sims Recycling Solutions
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent development

• In July 2025, BatX Energies announced a Memorandum of Understanding with Germany’s Rocklink GmbH to establish India’s first integrated rare earth magnet recycling and refining ecosystem, marking a key milestone in strengthening sustainable critical mineral value chains under the EU–India Trade and Technology Council collaboration.

• In April 2025, A project to recycle metals and precious metals used in the cells and electrodes of electrolyzers used to make caustic soda was launched by the Japanese technology company Asahi Kasei in collaboration with Nobian, Furuya Metal, and Mastermelt. The partners will begin working to create a precious metal recycling ecosystem in the chlor-alkali business in February 2025.

Market Segment

This study forecasts revenue at the global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the rare metal recycling services market based on the following segments:

 Global Rare Metal Recycling Services Market, By Source Material Type

• Primary Raw Materials
• Secondary Raw Materials

Global Rare Metal Recycling Services Market, By Recycling Technology

• Collection & Sorting
• Mechanical Separation
• Pyrometallurgical Processing
• Hydrometallurgical Processing
• Electrochemical Processes
• Separation & Purification Services

Global Rare Metal Recycling Services Market, By Type of Rare Metals

• Rare Earth Elements
• Platinum Group Metals

Global Rare Metal Recycling Services Market, By End-User Industries  

• Automotive
• Aerospace & Defense
• Energy & Batteries
• Industrial Manufacturing
• Others

Global Rare Metal Recycling Services Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa