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Precious Metals E-waste Recovery Market Anticipated to Generate a Revenue of $12,636.3 Million, Growing at a CAGR of 4.7% from 2020 to 2027

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The global precious metals E-waste recovery market is estimated to be valued at $12,636.3 million by 2027, surging from $8,721.0 million in 2019 at a noteworthy CAGR of 4.7%.

Impact Analysis of COVID-19 on the Precious Metals E-waste Recovery Market

The novel coronavirus pandemic has had a negative effect on the global precious metals e-waste recovery market. During the lockdown, there was a disturbance in collection and recovery of e-waste across the globe owing to government-imposed lockdowns and shutdown of industrial facilities. However, some of the leading participants adopted market strategies such as geographical expansion to make their services accessible to customers in the post lockdown time. For example, in September 2020, Enviroleach Technologies Inc., engaged in designing and commercialization of environmentally friendly recycling technologies, made a license partnership and agreement with Group 11 Technologies Inc., engaged in mineral extraction. According to the agreement, Enviroleach will provide its water-based solutions for the modification and update the in-situ gold mining technologies to Group 11 and also support the metal extraction technologies by supporting in R&D activities.

Global Precious Metals E-waste Recovery Market Analysis

Rapid growth in IT & communication sector, especially in developing nations like India and China, is a major driver for the growth of the market in the forecast time. This growth is majorly attributed to increase in the usage of electronics that is driving the upgradation of advanced electronic products, impacting the discarding the of old electronics. This is directly increasing the e-waste generation across the globe and is increasing the demand for e-waste recycling to reduce environmental problems like soil pollution. Such factors are anticipated to propel the growth of the market in the analysis time. Furthermore, leading market players are continuously focusing on initiatives to create awareness among consumers about e-waste recycling. For example, in October 2019, Sims Recycling Ltd started awareness programs on International E-waste Day to encourage people to responsibly recycle and reuse electronics. This aspect is expected to surge the growth of the market in the review time.

Possible health problems in precious metals e-waste recovery like damaged nervous system & immune system over time are estimated to hamper the growth of the market in the forecast time.

Continuous rise in demand for indium from consumer electronics manufacturing is estimated to impel the prospects for the market growth in the coming decades. For instance, sub-critical water treatment is one of effective technologies that recovery indium metal from LCD panels. The amount of indium metal recovered from LCD waste is dependent on the sub-critical water reaction temperature. This technology is effective in indium metal extraction from LCD panels with high purity, which is estimated to accelerate the market growth.

Global Precious Metals E-waste Recovery Market, Segmentation

The global precious metals E-waste recovery market is categorized based on metal type, source, and region.

Metal Type:

The metal type segment is further categorized into silver, copper, gold, and others. In these, the silver metal type sub-segment was the second largest revenue contributor to the global market and is predicted to reach $3,745.9 million by 2027 with a CAGR of 4.3% in the analysis time.

The major demand for silver comes from industries since it is used in manufacturing of almost all electronic devices like smartphones and tablets. Also, silver is an essential element in the photovoltaic cells manufacturing which are widely utilized in solar panels and automobiles. Such aspects are driving the demand for silver recycling from e-waste to minimize production cost, which is estimated to propel the growth of the market in the review time.

Source:

The source segment is further classified into consumer electronics, home appliances, IT & telecommunication equipment, and others. The home appliances source for precious metals E-waste recovery accounted for second highest revenue share in 2019 and is estimated to rise at a CAGR of 4.4% during the analysis time.

Rising utilization of home appliances owing to increase in per-capita income of individuals is encouraging the people to adopt advanced home appliances through discarding the old ones. Also, electronics contain toxic substances as well as precious metals. These factors are driving the home appliances recycling in order to minimize environmental pollution and recycling of precious metals. Such factors are driving the market growth in the analysis time.

Region:

The Asia-Pacific precious metals e-waste recovery market accounted for $3,927.1 million in 2019 and is estimated to reach a revenue of $5,767.8 million till 2027, at a healthy rate of 4.9% CAGR.

According to United Nations University’s Sustainable Cycles Programs (UNU), in 2019, e-waste generation in Asia-Pacific region has increase about 63% over the last five years. Asia-Pacific consumers are utilizing and disposing of more electronics due to constant growth in the utilization of advanced electronics by discarding old electronics. Such factors are estimated to drive e-waste recovery and recycling, which is anticipated to fuel the market growth across the region.

Key Players in the Global Precious Metals E-waste Recovery Market 

1 Johnson Matthey
2 umicore
3 Materion Corporation
4 Boliden Group
5 Sims Recycling Ltd
6 TANAKA HOLDINGS Co., Ltd.
7 Metallix
8 TES
9 Heraeus Holding
10 Enviroleach Technologies Inc.

Coupled with the company profiles of the major players in the global market, the report includes the Porter’s five forces model that provides deep information into the competitive environment of the market.

Porter’s Five Forces Analysis for the Global Precious Metals E-waste Recovery Market

  • Bargaining Power of Suppliers: There are several companies in precious metals E-waste recovery business. Companies are launching new advanced services that are cost effective. Moreover, customers always check costs of the services provided by several companies and select which is most relevant to their need. 
    Thus, the bargaining power of the suppliers is high.
  • Bargaining Power of Buyers: Increasing consumer demand for precious metals and high product dependence as well as brand loyalty due to less availability of substitutes is resulting in low bargaining power of buyers.
  • Threat of New Entrants: High initial expenditure is required for new participants in the industry due to complex processes involved in recycling of metals.
    However, increase in price of the precious metals are resulting in moderate threat to new entrants.
  • Threat of Substitutes: There are few replacements such as disposal of e-wastes into water bodies and land, but it poses a threat to the environment. 
    Therefore, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The companies operating in the global precious metals e-waste recovery are opting for various growth strategies to rise their position in the industry. Various companies are focusing on technology advancements in the market to reinforce consumer base. 
    Therefore, competitive rivalry in the market is high.
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