As per a recently issued market research report by Facts & Factors, the global e-waste to Preciometal market was projected to hit around USD 12,500 Million by the end of 2026 and expected to register an excellent 4.5% CAGR from 2021 to 2026.
With the advent of e-commerce consumer electronics became readily available through a wide range of platforms. Furthermore, with alternatives in every application with optimal price points, the market for electronic consumers grew to a larger market gain. Consumer electronics account for a large portion of precious metals. Disposal of e-waste is an extremely hazardous process and can carry toxic fumes if not regulated properly. With government bodies across the world implementing fail-safes for disposal or incinerating e-waste by providing monetary relief, a growth of the market can be witnessed. Additionally, OEMs and non-profit organizations have begun stepping raising awareness alongside offering cash incentives for implementing a well-regulated e-waste management plant.
Furthermore, precious metals contain silver, gold, copper, and other metals which can be reused after the required operations. A smaller set of profits can be extracted after selling the extracted after products. However, the lack of regulatory authorities regarding e-waste treatment plants and limited knowledge towards disposal and treatment of e-waste hinders the growth of the market to a certain extent.
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Top Market Players
Some of the major players in the e-waste to Preciometal market are Stena Metall AB, American Retroworks, Inc., Universal Recyclers Technologies, CRT Recycling, Inc., DOWA Holdings Co., EnviroLeach Technologies Inc., Umicore NV, among others.
EnviroLeach Technologies announced a 100MT per month waste printed circuit board feedback agreement which allows them to reuse and recycle a similar amount of e-waste and put it back in the ecosystem. The following development allows EnviroLeach to reach an extended consumer base in the regions of Europe and Asia-Pacific for a constant supply of raw materials required for the production of future products. TES-AMM Pte. Ltd announced a joint venture of their facility in the U.S which will be a replica of their Seattle-based operation which retrieves precious metals from e-waste. The following move helped the firm reach an extended consumer base in the North America region. Further collaborations and productions of e-waste to Preciometal plants help firms extend beyond their region for a variety of reasons and extract a number of revenue streams.
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The E-Waste to Preciometal Market can be segmented into household applications, IT & telecommunication, consumer electronics, and others on the basis of the source. Household applications will account for the larger market share in the subsegment owing to the huge number of electronics that amass from such use cases. Household applications have been witnessing a trend of early disposal before their life cycle in order for owning a new model. Refrigerators have been witnessing the trend and OEMs and manufacturers constantly keep updating their existing product lines with new features.
The E-Waste to Preciometal Market can be segmented into copper, gold, silver, and others on the basis of metal types. The copper segment accounts for the largest market value in the category owing to the inclusion of copper in every major industry. Copper has highly exclusive capabilities coupled with a relatively low cost which makes it a highly sought out material for most applications.
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Asia-Pacific to Occupy the Largest Market Share in the Region
Factors such as the availability of a cheap and ready labor force along with extremely stringent policies and regulations regarding the setting up of e-waste management plants are expected to propel the global E-Waste to Preciometal Market in Asia-Pacific as the most valued. With a huge infrastructure in place, the region is expected to drive in major players across the globe as the breeding ground for e-waste to the Preciometal sector. Europe will account for the second-largest market in the sector with the proactive steps undertaken by the EU. Such initiatives encourage the use of reusable materials while reducing the number of e-waste simultaneously.
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