Precious Metals E-waste Recovery Market Predicted to Register $18,645.2 Million and Grow at 7.0% CAGR in the 2022-2030 Analysis Timeframe [300-Pages] | Published by Research Dive
Precious metals e-waste recovery market is expected to grow by 2030 due to rising costs of precious metals. The gold sub-segment is predicted to be highly beneficial. Market in the Asia-Pacific region is projected to be highly progressive by 2030
NEW YORK, Jan. 16, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Precious Metals E-waste Recovery Market by Metal Type (Gold, Copper, Silver, and Others), Source (Home Appliances, Consumer Electronics, IT & Telecommunication Equipment, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030".
According to the report, the global precious metals e-waste recovery market is projected to register a revenue of $18,645.2 million and grow at 7.0% CAGR during the 2022-2030 analysis timeframe.
Dynamics of the Market
Drivers: The increasing cost of precious metals like gold, silver, platinum, and other equivalent metals along with the growing implementation of advanced technologies in the element extraction process are some factors to drive the global precious metals e-waste recovery market during the forecast period. Additionally, the extensive usage of metals like copper, gold, etc. in industrial applications is yet another boosting factor for the market growth.
Opportunities: The growing inclusion of modern technologies in element extraction to boost metal extraction along with rising strategic alliances among prominent market players to strengthen their presence are some factors to create ample growth opportunities for the global market by 2030.
Restraints: Possible health issues related with e-waste recovery is the major hindering factor for the market growth.
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Covid-19 Impact on the Market
The global precious metals e-waste recovery market has been negatively affected by the covid-19 pandemic, just like most industries, mainly due to strict lockdowns and mobility restrictions that led shortage of work force in the e-waste recovery units and disruptions in supply chains. Moreover, several governments imposed stringent social distancing norms and also mandated the sanitization of metals imported from China to curb the spread of the corona virus. Additionally, the electronic and industrial sectors were majorly hit due to the catastrophe that automatically forced the precious metals e-waste recovery market to fall exponentially. These factors declined the demand for precious metals and reduced the e-waste recovery process.
Segments of the Market
The report has fragmented the global precious metals e-waste recovery market into multiple segments based on metal type, source, and regional analysis.
- Based on metal type, the gold sub-segment is predicted to hold a dominant market share and gather a revenue of $6,405.5 million due to the extensive usage of gold in the industrial and electronic applications. Gold can easily resist corrosion, has great conductivity capabilities, and high economic value that drive the engineers to extract gold from electronic trash. These factors are estimated to bolster the sub-segment's growth by 2030.
- By source, the home appliances sub-segment of the global market is anticipated to have a noteworthy growth rate and garner a revenue of $5,437.4 million during the analysis years due to high utilization of electronic home appliances in domestic tasks like cooking, cleaning, food preservation, etc. Moreover, people's increased disposable income and rising urbanization are also expected to propel the sub-segment's growth by 2030.
- By region, the precious metals e-waste recovery market in the Asia-Pacific region is projected to witness abundant growth opportunities and grow at 7.2% CAGR during the forecast period due to the presence of densely populated countries like China and India, high use telecommunications technology, and better labor availability. Moreover, the growing use of precious metals in several industrial, electronic, and domestic applications is also predicted to uplift the market development in the Asia-Pacific region by 2030.
Prominent Market Players
Some prominent precious metals e-waste recovery market players are
- Sims Lifecycle Services Inc.
- umicore
- Boliden Group
- Johnson Matthey
- TANAKA Holdings Co. Ltd.
- TES
- Enviroleach Technologies Inc.
- Heraeus Holding
- Materion Corporation
- Metallix
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth.
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For example, in October 2020, EnviroLeach Technologies Inc., a leading developer of economic and eco-friendly sustainable metal recovery technologies, launched its innovative scrap printed circuit board feedstock arrangement with the help of a European participant in the electronic waste business to expand its product portfolio and geographical reach in the Asian and European markets.
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about Precious Metals E-waste Recovery Market:
- Precious Metals E-waste Recovery: An Ideal Solution for Protecting Environment and Conserving Natural Resources
- How Will Precious Metals E-Waste Recovery Favor the Automobile Industry in Making Its Various Parts?
- Precious Metals E-Waste Recovery as a Means for Better Sustainability
- Precious Metals E-waste Recovery Market to Observe Significant Growth Due to Company Acquisitions and Business Expansion by Market Players, such as Sims Lifecycle Services, Mint Innovation, and Others
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