New York, USA, Aug. 30, 2022 (GLOBE NEWSWIRE) -- According to Research Dive’s newly published report, the global precious metals e-waste recovery market is predicted to grow at a stable CAGR of 7.0%, thereby garnering a revenue of $18,645.2 million in the 2022-2030 timeframe. This holistic report provides an overarching overview of the nature of the precious metals e-waste recovery market including its main characteristics like growth drivers, growth opportunities, restraints, and hindrances in the 2022-2030 timeframe. The report also contains all the necessary and essential market figures to help new entrants gain an insight into the working of the market.
Dynamics of the Market
Drivers: Increasing cost of gold, silver, and other similar precious metals is predicted to boost the precious metals e-waste recovery market. Along with this, the growing demand for precious metals in industrial applications is anticipated to help the market grow substantially in the forecast period.
Opportunities: Technological advancements in the metal extraction sector are estimated to offer numerous growth opportunities to the market in the analysis timeframe. Moreover, growth in prices of precious metals like gold and silver is expected to augment the growth rate of the market.
Restraints: Health issues associated with e-waste recovery, however, might prove to be a hindrance in the growth trajectory of the precious metals e-waste recovery market.
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Impact of Covid-19 on the Market
The Covid-19 pandemic affected millions of lives, directly or indirectly. The lockdowns ordered by various countries to curb the spread of the disease affected numerous industries by hampering global supply chains. The precious metals e-waste recovery market, too, experienced a decline during the pandemic period. Factory closures, supply chain disruptions, and overall economic slowdown resulted in a decline in the demand for precious metal e-waste recovery, which caused this fall in the growth rate of the market.
Segments of the Market
The report has divided the precious metals e-waste recovery market into certain segments based on metal type, source, and region.
Metal Type: Gold Sub-Segment to be the Most Profitable
By metal type, the gold sub-segment is predicted to have the most dominant market share and generate a revenue of $6,405.5 million by 2030. Gold is regularly used in consumer electronics and household appliances to prevent corrosion and due to its great conductive properties. Hence, gold e-waste recovery is expected to gather a dominant market share in the forecast period.
Source: Home Appliances Sub-segment to be the Most Dominant
By source, the home appliances sub-segment is predicted to garner a substantial revenue of $5,437.4 million by 2030, thereby having the most dominant market share. Growth in disposable income of the global population and increasing urbanization have led to a surge in demand for home appliances, which is estimated to propel the growth of this sub-segment.
Region: Market in Asia-Pacific Region to be the Most Lucrative
By regional analysis, the precious metals e-waste recovery market in the Asia-Pacific region is poised to become the most dominant and grow at a CAGR of 7.2% in the 2022-2030 timeframe. A large population in countries of this region such as India and China and the proportionate use of IT and telecommunication technology is predicted to be the primary growth driver of the market in this region.
Prominent Market Players
Some prominent market players in the precious metals e-waste recovery market are
- Johnson Matthey
- Sims Lifecycle Services, Inc.
- TES
- Umicore
- TANAKA Holdings Co., Ltd.
- Heraeus Holding
- Materion Corporation
- Metallix
- Enviroleach Technologies Inc.
- Boliden Group
These companies are coming up with various innovations using different scientific approaches to gain a prominent position in the market.
For instance, in May 2022, Scipher Technologies, a leading company engaged in recycling and recovery of valuable metals, announced that it was acquiring Total Green Recycling, one of the leading e-waste recyclers in Australia. With this acquisition, Scipher Technologies is predicted to expand its footprint in the market substantially in the coming years.
Finally, this report also summarizes many crucial aspects of the precious metals e-waste recovery market including the latest strategic developments, SWOT analysis, financial performance of the key players, and product portfolio.
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