Precious Metals E-Waste Recovery Market Size, Share & Trends Analysis Report By Metal (Gold, Silver), By Source (Household Appliances, IT & Telecommunication), By Region, And Segment Forecasts, 2024 - 2030

Precious Metals E-Waste Recovery Market Size, Share & Trends Analysis Report By Metal (Gold, Silver), By Source (Household Appliances, IT & Telecommunication), By Region, And Segment Forecasts, 2024 - 2030

Precious Metals E-Waste Recovery Market Growth & Trends

The global precious metals e-waste recovery market size is anticipated to reach USD 8.75 billion by 2030, registering a CAGR of 5.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for precious metals, including gold, silver, palladium, and platinum in industrial applications is projected to benefit the market growth. Gold is used in electronics, medical treatments, and aerospace applications. Silver has applications in the electronics, antibiotics, photography, cutlery, and energy sectors. Platinum and palladium have applications in the electronics, catalytic conversion, computer parts, medicine, and oil refining sectors, among others. Consumer electronics, such as cell phones, laptops, etc., have a short life span.

These products are updated regularly by manufacturing companies, and thus, new models are released in the market. This generates a high volume of end-of-life electronic products that contain high-value metals. This has boosted the recovery of precious metals as many companies have realized the potential of such electronic waste. The recycling rate in North America and Asia Pacific is very low compared to European countries. This represents an opportunity for market participants, as these two regions also have high e-waste generation in the world. Many companies have started investing in precious metals e-waste recovery as the value of metals obtained after recycling is very high.

For instance, Hindalco Industries Ltd. announced an investment of USD 240.9 million for e-waste and copper recycling in India. The rising awareness about sustainability across different end-use industries has been a pivotal factor driving the adoption of recycled precious metals. One key aspect of this awareness is the realization that traditional metal production, which involves extracting and refining raw ore, is resource-intensive and contributes significantly to carbon emissions. This fuels the demand for recycled metals as they mitigate the requirement for such energy-intensive processes. These metals align with principles of circular economy wherein materials can be reused and recycled, thereby reducing the overall environmental footprint.

Precious Metals E-Waste Recovery Market Report Highlights

• The consumer electronics segment dominated the market with a revenue share of more than 40% in 2023
• The segment is expected to benefit from rising per capita income and resultant increased demand for products, such as cell phones, headphones, wearables, etc.
• The household appliances segment is expected to register the second-fastest CAGR from 2024 to 2030
• Demand for products, such as refrigerators, washing machines, stoves, and air conditioners, is expected to result in e-waste generation, thus positively influencing segment growth
• Gold is likely to emerge as the largest segment, primarily due to the high value, and difficulty in extraction of metal
• Asia Pacific is expected to remain the fastest-growing region over the forecast period. Most of the countries in the region have informal markets; however, rising awareness of recycling is likely to benefit industry growth

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