Precious Metals E-Waste Recovery Market Expected to Reach $18.7 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Precious Metals E-Waste Recovery Market," The precious metals e-waste recovery market was valued at $9.4 billion in 2021, and is estimated to reach $18.7 billion by 2030, growing at a CAGR of 7% from 2022 to 2030. The increasing use of electronic items is expected to boost the growth of the electronic scrap recycling industry. The increased need to save energy and reduce the impact on mining ores for primary metals is driving the electronic scrap recycling business forward.

The growing usage of e-waste recycling for the recovery of different metals is critical for energy conservation. For example, electronic recycling aids in the extraction of metals that require a substantial amount of energy to extract and are found in low quantities in raw ores. Furthermore, e-waste is a very rich source from which valuable metals may be recovered.

However, some of the disadvantages of precious metal e-waste include toxic metals such as mercury, lead, cadmium, and polybrominated flame retardants. These harmful metals affect the health mostly of children due to their smaller stature, less developed organs, and rapid rate of growth and development. The harmful toxic substances included in e-waste mostly affect children body as their body absorbs more contaminants in relation to their size and have a lower ability to digest or eliminate hazardous chemicals from their body.

The new technologies in element extraction to maximize metal extraction is expected to fuel the development potential for the precious metals e-waste recovery market in the future decades. For example, microscopic pipework is one of the sophisticated technologies that decreases cost and time for extraction operations by turning wastes into micro-fluids to boost the efficiency and efficacy of precious metals. This factor is expected to drive the market expansion in the near future.

The global precious metal e-waste recovery market share is segmented based on metal type, source, and region. By metal type, it is classified into gold, copper, silver, and others. By source, it is classified into home appliances, consumer electronics, IT & telecommunication equipment, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the precious metal e-waste recovery market report include Johnson Matthey, umicore, Materion Corporation, Boliden Group, Sims Lifecycle Services, Inc., TANAKA Holdings Co., Ltd., Metallix, TES, Heraeus Holding, and Enviroleach Technologies Inc.

Impact of COVID-19 on the Global Precious Metal E-waste Recovery Industry

• The global precious metal e-waste recovery business suffered during the COVID-19 epidemic due to global lockdowns which were implemented to limit infection rates. Additionally, the closure of transportation and industry is projected to have an impact on the market growth. The closure of industries has caused disruptions in the demand and supply chain for finished goods.
• COVID-19 impacted almost all industries, and precious metal e-waste recovery firms suspended operations due to import-export restrictions, lockdown enforced across numerous nations, labor shortages, and the fear of catching the new coronavirus, resulting in slow market demand
• In July 2020, TES-AMM Pte. Ltd. announced the expansion of its activities in the U.S. with the construction of an additional plant in Seattle, Washington. The new 42,000-square-foot building will allow the firm to service clients throughout North America and the Pacific Northwest area. Due to the COVID-19 pandemic, this facility was projected to be operational by the end of 2021. The Seattle plant will be a copy of the company's other U.S.-based operations, and it will recover valuable metals from electronic trash. The corporation built this plant in response to the positive reaction from the U.S. market in previous years. This will help the corporation expand its operations in North America.

Key Findings of the Study

• Based on metal type, the gold sub-segment emerged as the global leader in 2021 and the copper sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
• Based on source, the consumer electronic sub-segment emerged as the global leader in 2021 and is predicted to show the fastest growth in the upcoming years
• Based on region, the Europe market registered the highest market share in 2021 and is projected to maintain the position during the forecast period