Wilmington, Delaware, United States, Transparency Market Research Inc., Aug. 07, 2024 (GLOBE NEWSWIRE) -- The wire and cable recycling market (전선 및 케이블 재활용 시장) was valued at US$ 7.1 Million in 2021. It is estimated to reach US$ 12.8 Billion by the end of 2031 at a CAGR of 6.2% from 2022 to 2031, according to Transparency Market Research (TMR), a leading global market research company.
Countries across the globe are taking active initiatives to reduce greenhouse gas emissions. To prevent severe climate damage, global net human-caused emissions of carbon dioxide need to fall by about 45% from 2010 levels by 2030, reaching net zero around 2050.
These efforts have led to electrification in several sectors, rapidly boosting the demand for copper. This, in turn, is propelling the global wire and cable recycling market value.
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Wire and Cable Recycling Market Key Insights
- Countries and companies looking to reduce waste by augmenting their usage of recycled metals
- Telecom operators seeking sustainable development through copper recycling
- New Government Policies Augmenting Imports of Recycled Copper and Other Metals
Initiatives to cut down upon planet-warming greenhouse gas emissions has led to the high adoption of copper, a key component used to transfer electricity. To further lower carbon emissions of energy-intensive sectors, major metals producers and end-users are boosting their use of recycled metals.
Countries across the globe are also avoiding becoming a dumping ground for waste materials. They are implementing new rules and regulations to increase the usage of recycled metals.
In July 2024, China, one of the largest metal producers and consumers worldwide, issued draft rules to allow more imports of recycled copper and aluminum to improve supply and industry competitiveness.
These regulatory changes are expected to positively impact the wire and cable recycling market size during the forecast period. Regulatory changes are also fueling the number of secondary smelters and refineries.
According to the International Copper Study Group (ICSG), a Lisbon-based intergovernmental organization of copper-producing and consuming states, global primary and recycled-content secondary refined copper production increased by about 6% in the first five months of 2024.
China was a major contributor to this growth. A favorable regulatory scenario has prompted a significant rise in the number of startups along with primary and secondary smelters and refineries.
- Investments in Copper Recycling from Telecom Operators Augmenting Wire and Cable Recycling Market Revenue
Leading stakeholders in the telecommunications sector, including AT&T Inc., BT Group Plc, and Orange SA, are tapping into old copper wiring with significant investments in copper reclamation centers. These copper recycling efforts are expected to offer lucrative wire and cable recycling market opportunities for vendors.
AT&T recycled more than 14,000 tons of copper between 2021 and 2023. Openreach Ltd., a subsidiary of BT Group Plc, estimates to recover up to 200,000 tons of copper through the 2030s. According to the International Copper Association, more than 30% of the red metal was recycled from 2009 to 2019.
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Wire and Cable Recycling Market Regional Insights
- Europe accounted for largest share in 2022
- The region is estimated to maintain its dominance during the forecast period
- The market in Asia Pacific to grow at a steady pace as metal manufacturing companies are investing in recycling
Several companies in Europe support the circular economy due to the presence of stringent environmental regulations. They implement recycling solutions, thereby recovering end-of-life cables and increasing product lifespans.
In April 2024, Japan and Europe agreed to establish a system to share information on the extraction sites and suppliers of minerals used in EV batteries. The system, to be launched by 2025, aims to reduce the dependence on China for metals and other battery materials. Such partnerships are increasing the wire and cable recycling market share in Europe.
Leading metal manufacturers in Asia Pacific are investing in recycling. In 2023, Hindalco Industries, an India-based copper and aluminum producer, announced plans to invest in a copper and e-waste recycling facility.
In 2023, India’s National Fire Protection Association cited the use of recycled copper and PVC materials in wire manufacturing by unbranded players as the major cause of fires at residential and industrial units.
Governments need to standardize the quality of recycled materials to boost safety and reduce the risk of electrical fires. Manufacturers and wire and cable recycling companies must adhere to strict quality control measures and industry standards to ensure the safety of recycled wiring products.
Leading Players in Wire and Cable Recycling Industry
ANDRITZ, COHEN, ELDAN Recycling A/S, NKT, MTB Recycling, Bolduc Metal Recycling Inc., Stena Metall Group, Aurubis AG, and Henan Renewable Energy Technology Co., Ltd are some of the prominent entities operating in this market.
Key Strategies by Wire and Cable Recycling Market Players
- Leading wire and cable recycling service providers are investing in expanding their recycling capabilities
In January 2024, Loacker Recycling GmbH, an Austria-based provider of recycling, collecting, and disposal systems and services, partnered with Lindner-Recyclingtech GmbH, a waste recycling company, to bolster wire and cable recycling output at the Loacker Recycling facility in Wonfurt, Germany.
Market Segmentation
Source
- Household Cables
- Industrial Cables
- Underground Cables
- Others
Material
- Insulating Material
- Polyvinyl Chloride (PVC)
- Ethylene Propylene
- Styrene-butadiene Rubber (SBR)
- Ethyl Vinyl Acetate
- Polyethylene
- Others
- Conducting Material
- Copper
- Aluminum
- Others
- Others
Cable Type
- Low Tension Cables
- Medium Tension Cables
- High Tension Cables
End-use
- Insulating Material
- Plastic Products
- Concrete Products
- Wood Products
- Others
- Conducting Material
- Transport
- Construction
- Electronics
- Others
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