CHICAGO, Jan. 8, 2021
CHICAGO, Jan. 8, 2021 /PRNewswire/ -- According to the new market research report "Precious Metals E-Waste Recovery Market by Source(Household Appliances, It & Telecommunication, Consumer Electronics), Metal (Copper, Gold, Silver), & Geography - Global Forecast to 2025", published by MarketsandMarkets™, the 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. 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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Copper is expected to be the fastest-growing metal segment of the precious metals e-waste recovery market.
Based on 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.
Household Appliances is expected to be the fastest-growing source segment in the precious metals e-waste recovery market.
Based on source, the household appliances segment is expected 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.
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Asia Pacific is expected to be the fastest-growing regional segment in the precious metals e-waste recovery market.
The precious metals e-waste recovery market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. China, Japan, South Korea, Taiwan and Malaysia are the key countries contributing to the high demand for precious metals in the Asia Pacific region. Availability of cheap labor and raw materials has resulted in making Asia Pacific a preferred region for manufacturing facilities of electronic and automobile companies which consume precious metals for better conductivity and to limit pollution respectively. This makes Asia Pacific the fastest-growing region of the precious metals e-waste recovery market.
Some of the leading players operating in the precious metals e-waste recovery market include 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), and Tanaka Precious Metals (Japan) among others.
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