New York, USA, Aug. 17, 2021 (GLOBE NEWSWIRE) — A new report on the global precious metals e-waste recovery market has been added by Research Dive to its offerings. As per the report, the global market is anticipated to garner $12,636.3 million by 2027, growing at a CAGR of 4.7% from 2020 to 2027. This report in an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, shareholders, investors, prevalent players, stakeholders, etc.
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Impact of Covid-19 Pandemic on the Market
The government of various nations has implement strict lockdown and restricted transport activities to limit the spread of virus. The cessation of various industries has caused a wide gap in the demand and supply of final products. However, the market is predicted to recuperate from incurred losses as when the pandemic relaxes. Market players are investing in significant developments to invent and adopt novel means of precious metal recovery processes.
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Factors Impacting the Market Growth:
A significant rise in the costs of precious metals, such as gold, platinum, and many others, is expected to propel the global precious metals e-waste recovery market growth. Moreover, rising adoption of advanced technologies for element extraction are enhancing metal extraction processes, and thus unlocking novel opportunities for the market growth. However, chances of health problems owing to numerous toxic chemicals like organic compounds and metals involved in e-waste recovery processes are expected to obstruct the market growth during the forecast period.
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The report segments the global precious metals e-waste recovery market into metal type, source, and region.
Gold Sub-Segment to Grab Leading Share of the Market
The gold sub-segment of the metal type segment is anticipated to lead the market by gathering a revenue of $3,906.7 million, rising with a CAGR of 4.9% in the estimated period. This is mainly because consumer electronics and home appliances comprise significant amount of gold for corrosion resistance and conductivity.
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IT & Telecommunication Equipment Sub-Segment to Dominate the Market
The IT & telecommunication equipment sub-segment of the source segment is projected to lead the market growth by surpassing a revenue of $2,424.3 million, rising at a CAGR of 4.9% in the estimated period. This is mainly owing to the growing quantity of e-waste generated from IT & telecommunication systems.
Asia-Pacific Region to Lead the Global Market
The report analyzes the global precious metals E-waste recovery market across several regions such as North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific region market is projected to dominate the global market by surpassing $5,767.8 million in the projected period. This is mainly because of the significant upsurge in the rate of adoption of IT and telecommunication systems in many nations in this region.
Major Players in the Market:
• Johnson Matthey
• Materion Corporation
• Sims Recycling Ltd
• Metallix
• Enviroleach Technologies Inc.
• Umicore
• Boliden Group
• TANAKA HOLDINGS Co.
The report also provides some of the latest winning tactics such as strategic moves & developments, business performance, product/service range, Porter five forces analysis, and SWOT analysis of the leading players, functioning in the global industry. For instance, in December 2019, scientists from the Chemical Engineering Department of the Indian Institute of Technology-Delhi (IIT-Delhi) developed a unified technique for the effective recycling of e-waste to recover precious metals like silver and gold.