Chicago, March 14, 2023 (GLOBE NEWSWIRE) -- The global Precious Metals E-Waste Recovery Market is projected to grow from USD 9.4 billion in 2020 to USD 11.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period, as per the recent study by MarketsandMarkets™. Growing investments in precious metals in emerging countries of Asia Pacific, demand from end-use industries and the necessity to treat e-waste before disposal are the key factors driving the growth of the precious metals e-waste recovery market.
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133 - Market Data Tables
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List of Key Players in Precious Metals E-Waste Recovery Market:Johnson Matthey Plc (UK)Sims Limited (US)EnviroLeach Technologies Inc. (Canada)Umicore NV (Belgium)Materion Corporation (US)Boliden AB (Sweden)DOWA Holdings Co., Ltd. (Japan)Heraeus Holding GmbH (Germany)TES-AMM Pte. Ltd. (Singapore)Metallix Refining Inc. (US)Tanaka Precious Metals (Japan)
Drivers, Restraints, and Opportunities in Precious Metals E-Waste Recovery Market:Driver: Demand for precious metals in industrial applications and as an investment toolRestraint: Issues related to use of cyanide leaching in precious metal recovery from e-wasteOpportunities: Low recycling activities of e-waste for precious metal recoveryChallenges: Risk to human health and environment
Key Findings of the Study:Copper is expected to be the fastest-growing metal segment of the precious metals e-waste recovery market.Household Appliances is expected to be the fastest-growing source segment in the precious metals e-waste recovery market.Asia Pacific is expected to be the fastest-growing regional segment in the precious metals e-waste recovery market.
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A precious metal (PM) can be defined as a rare metallic chemical element of high economic value. Precious metals, as a group, have a set of physical and chemical properties that are unrivalled by many other materials. Due to the cost and availability, these materials are limited to applications where only small amounts are used, such as spark plug tips and electrical contact plating. Under certain circumstances, precious metals are used in large quantities for applications where there is no substitute.
On the basis of metal, the copper segment is projected to grow at the highest CAGR from 2020 to 2025. Use of copper in building construction, power generation and transmission, electronic product manufacturing, and the production of industrial machinery and transportation vehicles is expected to increase consumption of copper during the forecast period. Copper wiring and plumbing are also integral to the appliances, heating and cooling systems, and telecommunications links used every day in homes and businesses resulting in an increased consumption during the forecast period.
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Among source types, the household appliances segment is projected to grow at the highest CAGR from 2020 to 2025. Household appliances are electric and electromechanical devices which assist in homemaking and home functions such as cooking, cleaning and food preservation. Increasing population, urbanization and rising disposable income are projected to increase demand for electronic household appliances during the forecast period.
Asia Pacific, North America, and Europe are the major regional markets for precious metals recovery from e-waste. Growing demand of precious metals as investment tools and consumption from end-use industries are driving the regional market. Various leading players have been carrying out strategic expansion activities in the Asia Pacific region to meet the growing demand from various end-users.
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