The Precious Metals E-Waste Recovery Market Forecast 2023-2032: Size, Major Drivers And Trends - By The Business Research Company

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Jul 17, 2023, 11:40 ET

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, July 17, 2023 /PRNewswire/ -- As per The Business Research Company's Precious Metals E-Waste Recovery Global Market Report 2023, the global precious metals e-waste recovery market size will grow from $9.6 billion in 2022 to $10 billion in 2023 at a compound annual growth rate (CAGR) of more than 4%. The precious metals e-waste recovery market size is then expected to grow to $12.3 billion in 2027 at a CAGR of more than 5%. Going forward, improvements in plant efficiency, the increasing growth of the aerospace sector, the growing automotive market and the growing investment in infrastructure will drive the growth.

Major players in the precious metals e-waste recovery market are Johnson Matthey PLC., Sims Limited, EnviroLeach Technologies Inc., Umicore NV, Materion Corporation, Boliden AB, DOWA Holdings Co., Ltd., Heraeus Holding GmbH, TES-AMM Pte. Ltd. and others.

Learn More On The Precious Metals E-Waste Recovery Market Report – https://www.thebusinessresearchcompany.com/report/precious-metals-e-waste-recovery-global-market-report

Companies operating in the precious metals e-waste recovery market are focusing on developing innovative solutions to strengthen their position in the market. For instance, in March 2023, TDK Corporation, a Japanese multinational electronics corporation, announced that its subsidiary TDK Ventures Inc., its corporate venture-capital arm, was investing in and co-leading pH7 Technologies' Series A fundraising round. Through their sustainable and ecologically friendly approach, pH7's revolutionary chemical method has the potential to alter precious metal extraction from mining and recycling resources. pH7 Technologies created a patented metal-extraction method that uses non-toxic chemical and inorganic chemistry, as well as electrochemistry, to extract metals and critical minerals from ores, concentrates, and waste products.

In addition, the use of biotechnological methods is gaining popularity in the precious metals e-waste recovery market. Certain bacteria and fungi have the ability to selectively accumulate metals, and their use in metal recovery shows promise. For instance, in November 2021, Colt Technology Services, a UK-based telecommunications company, started testing an e-waste solution that extracts valuable metals using microorganisms and biological beings. The bioleaching technology developed by Coventry University and IT recycling expert, N2S is able to collect valuable metals such as gold and copper in electronic trash, allowing them to be repurposed rather than discarded.

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As per the precious metals e-waste recovery market analysis, Asia Pacific was the largest region in the precious metals e-waste recovery market and was worth $4.5 billion in 2022.

The precious metals e-waste recovery market in Asia Pacific is supported by the high consumption of electrical and electronic equipment, the high demand for precious metals, high electronic and electrical equipment consumption, and by the large e-waste generation. For example, in 2021, 2,459 tons of e-waste was collected in Malaysia. Further, the department of environment (DOE) has licensed 35 companies to treat/manage 121 collection centers to gather e-waste in Malaysia.

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