New York, USA, June 14, 2021 (GLOBE NEWSWIRE) -- As per a recent report by Research Dive, the global precious metals e-waste recovery market is anticipated to register a revenue of $12,636.3 million by 2027, rising from a market size of $8,721.0 million in the year 2019, at a considerable CAGR of 4.7% during 2020-2027 estimated timeframe. The market report offers in-depth content on the Covid-19 mayhem impact on the market, specifies drivers, restraints, and lucrative opportunities. The research methodology utilized in the report is a compilation of both primary and secondary research techniques.
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Effect of Covid-19 Mayhem on the Market
The global precious metal e-waste recovery market is predicted to face a negative impact during the Covid-19 pandemic due to lockdown across the world to control infection rate. Also, the shutdown of transportation and industries is expected to affect the market growth. The shutdown of industries has led to obstructions in the demand and supply chain of final goods. However, the market is anticipated to enhance in the post-pandemic phase due to significant developmental frameworks adopted by the key market players.
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Factors Affecting the Market Growth
The global market is speculated to augment during the forecasted years due to the rise in the costs of precious metals such as gold, platinum, and many others. E-waste is considered one of the threats to the environment. The key market players are focusing on tactics such as product launches and advancements to obtain a leading position in the market. For example, in May 2019, Materion, a marketer & manufacturer of metals, revealed QMet 300 alloy. This product is a combination of high conductivity, formability, and strength, and gives high performance. The goal of the launch is to meet demands from the electronics and automotive sectors. Apart from this, recycled home appliances or consumer electronics are a source of toxic chemicals that can have adverse effects on the human body. A person can be subjected to health issues such as lung defects, thyroid imbalances, and problematic neonatal outcomes. Nevertheless, discoveries of new and advanced technologies for extracting elements are predicted to create opportunities for the market in the coming years.
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Gold Sub-Segment to be the Most Profitable
Among the metal type segment, the gold sub-segment was recorded to be dominating in 2019 and is anticipated to gather a revenue of $3,906.7 million, at a substantial CAGR of 4.9% during the forecasted period. Home appliances and consumer electronics contain gold as it is a corrosion preventer and has good conductivity. These factors are projected to drive the sub-segment market during the analyzed timeframe.
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Telecommunication & IT Equipment Sub-Segment to Gain Maximum Revenues
From the source segment, the telecommunication & IT equipment sub-segment is projected to cross $2,424.3 million by the end of 2027, at a considerable growth rate of 4.9% during the forecasted timeframe. Telecommunication and IT sectors generate a huge amount of e-waste every day and such e-waste is a rich source of precious metals. The need to recycle e-waste from telecommunication industries is projected to augment the sub-segment growth during the analyzed timeframe.
Regional Outlook
The major regions of the market are LAMEA, Asia-Pacific, North America, and Europe. Amongst these, the Asia-Pacific region for precious metals e-waste recovery market is estimated to be the most dominant. The regional market was accounted for a market share of $3,927.1 million in the year 2019 and is projected to garner a revenue of $5,767.8 million by the end of 2027. A perfect proportionality between utilization of telecommunication & IT equipment and the growing population in Asian countries like India & China is predicted to propel the market growth in the forthcoming years. Also, the availability of labor and increasing expenses of precious metals is anticipated to bolster the growth of the market during the analyzed timeframe.
Key Market Players
• Johnson Matthey
• Materion Corporation
• Sims Recycling Ltd
• Metallix
• Enviroleach Technologies Inc.
• Umicore
• Boliden Group
• TANAKA HOLDINGS Co.
These significant players are planning several strategies such as product developments, research & development activities, acquisitions of businesses, tie-ups & collaborations for maximizing profits, and organizational development to gain an upper edge in the market worldwide. For instance, in August 2020, Mint Innovation, a New Zealand-based startup for recycling electronic waste, announced to open a facility in Cheshire, England for extracting precious metals from electronic wastage. This commercial refinery will be the world’s first to utilize bacteria instead of cyanide-based processes.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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