Precious Metals E-Waste Recovery Market Trends and Growth Opportunities Analysis

The precious metals e-waste recovery market is expected to gain considerable growth across the assessment period of 2020-2030 on the back of the rising demand in industrial applications. A wide range of precious metals such as gold, copper, platinum, silver, and palladium are used in a large number of industries.

Copper is used in plumbing, electrical power transmission, and plumbing. Palladium, platinum, and gold are used in the electronics industry. Gold is also used in dental and medical applications due to its corrosion-resistant properties and high conductivity. Thus, all these aspects bode well for the growth of the precious metals e-waste recovery market.

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According to a United Nations (UN) report, at least US$ 10 bn worth of platinum, gold, and other types of precious metals are dumped every year as e-waste or electronic waste components. This waste pollutes the planet. The statistics increase the need for the recovery of precious metals from e-waste. These factors invite tremendous growth prospects for the precious metals e-waste recovery market.

Systematically Eliminating Unsafe Practices and Recycling is the Need of the Hour

Low and middle-income countries have an e-waste recycling process but it is not practiced everywhere. E-waste is recycled usually in these countries through unsafe practices. The burning of circuit boards to recover copper is a classic instance. Improper e-waste recycling can hamper the growth opportunities across the precious metals e-waste recovery market. Thus, the players are trying to eliminate unsafe practices, which will have a positive impact on the growth of the precious metals e-waste recovery market.

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Recovering Precious Metals Affordable than Metal Extraction Mines

The recovery of precious metals from e-waste is affordable and less tedious as compared to the extraction of metals from mines. In addition, it is environmentally sound than extracting metals from mines. Recovery of precious metals from e-waste is almost 13 times cheaper than metal extraction from mines. Such advantages bring profitable growth for the precious metals e-waste recovery market.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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