The global precious metals e-waste recovery market size is predicted to be valued at $18,645.2 million by 2030, surging from $9,434.5 million in 2021, at a noteworthy CAGR of 7.0%.
Global Precious Metals E-waste Recovery Market Analysis
Increasing expansion of the IT and communication sectors, particularly in countries such as India and China, is a significant driver of market growth in the forecast period. This increase is mostly related to an increase in electronic consumption, which is driving the advancement of new electronic devices and influencing the disposal of obsolete electronics. This immediately increases global e-waste creation while also boosting demand for e-waste recycling to address environmental issues such as soil contamination. Such factors are expected to drive market expansion over the analyzed period. Furthermore, major market competitors are always focused on initiatives to raise consumer awareness regarding e-waste recycling.
However, several factors impact precious metal prices, including inflation, currency changes, government reserves, and geopolitical uncertainty. Due to such price fluctuations, demand and supply for certain metals are adversely impacted, affecting industrial production operations. Furthermore, mining for precious minerals is a laborious operation requiring big investments in gear and lengthy working hours, and production unpredictability is expected to stymie expansion. Furthermore, ineffective polishing to maintain the sheen and color of these metals will impede the market.
For recovery precious metal from e-waste materials, vat leaching is commonly used, in which crushed e-waste is combined with a sodium cyanide solution in enormous tanks. As cyanide leaching is so efficient, it enables for the lucrative recovery of valuable metals. Cyanide, on the other hand, is a very poisonous chemical that can have serious environmental and public health consequences. Cyanide spills have contaminated drinking water sources, destroyed agricultural fields, and resulted in fatalities. Although cyanide aqueous solutions breakdown quickly in sunlight, less hazardous compounds such as cyanates and thiocyanates may linger in the soil for several years. Cyanide leaks into groundwater can remain for longer periods of time and affect drinking water aquifers.
Global Precious Metals E-waste Recovery Market Share, Segmentation
The global metals e-waste recovery market share is segmented based on metal type, source, and region.
Metal Type:
The metal type segment is further classified into gold, copper, silver, and others. Among these, the copper sub-segment is anticipated to have a fastest market share and surpass $4,003.7 million by 2030, with an increase from $1,912.8 million in 2021. It is mostly due to urbanization, huge population, and rising disposable income that will provide attractive opportunities for electronic household appliances in the approaching years. Electrical and electromechanical devices are domestic gadgets that aid in homemaking and household duties such as cooking, food preservation, and cleaning.
Source:
The source segment is further classified into home appliances, consumer electronics, IT & telecommunication equipment, and others. Among these, the consumer electronics sub-segment is anticipated to have a dominant market share and surpass $7,827.6 million by 2030, with an increase from $3,814.6 million in 2021. As the amount of consumer electronic has grown over the last decade as a result of revolutionary developments in the electric and electronic industries, burning and recycling of these materials have gained popularity.
Region:
The precious metals e-waste recovery market in the Europe region is projected to show the fastest growth. This region’s market generated a revenue of $2,376.6 million in 2021 and is projected to reach up to $4,948.4 million by 2030. The region’s demand for precious metals e-waste recovery was driven by factors that led to the market growth due to rising demand for consumer electronic items and increasing demand from automotive and electronics companies. European Union legal framework and certification scheme, along with wide financial measures, will promote the investments needed to make recycling essential raw materials more commercially feasible and reduce Europe’s reliance on external supply sources.
Key Players in the Global Precious Metals E-waste Recovery Market
Some of the leading e-waste recovery market players are
- Johnson Matthey
- Umicore
- Materion Corporation
- Boliden Group
- Sims Lifecycle Services, Inc.
- TANAKA Holdings Co., Ltd.
- Metallix
- TES
- Heraeus Holding
- Enviroleach Technologies Inc.
Source: https://www.researchdive.com/8365/precious-metal-e-waste-recovery-market
