Precious Metal Recycling Market is anticipated to grow with a value CAGR of xx % over 2019-2028. According to a study published by Insure Insights on the Precious Metal Recycling Market, Precious metal Recycling includes the recovery and processing of scrap metal from end-of-life products or structures so that it could be used as a raw material in the production of new goods. It includes metals like Gold, palladium, platinum, rhodium, and silver etc. The signing of merger and acquisition deal by the key players have boosted the market.

Top Driver: The increasing demand for Precious Metal jewelry driven the Market

The increasing demand for Precious Metal jewelry have highly contributed in the Market. The increase in the demand among the women for jewelry made up of precious metal and increase in the disposable income among the public have promoted the market.

Pt Recovery have obtained the highest growth in the Global Precious Metal Recycling Market

Based on Type, the market is segmented into Au Recovery, Pt Recovery, Ag Recovery and Others. The Pt Recovery segment have held the most significant growth.  The Platinum is considered as the most expensive metal, it does not get affected by any chemical reaction. The increase in the demand of Platinum in jewelry especially among women and increasing focus for recycling rather than mining metal have boosted the segmental growth. The AU recovery segment is expected to rise with a significant growth in the forecast, owing to the increase in the demand for gold especially in Asia Pacific countries like India.

In terms of End User, the market is segmented into Catalyst Regeneration, Electronics, Jewelry, Healthcare, Others. The Jewelry, segment has held the highest share owing to the rise in the demand for precious metal jewelry especially among the women across the world

Europe to rule the Regional Market of Precious Metal Recycling   

Based on Region the market is segmented into North America, Europe, Asia Pacific, and SAMEA. North America have held the highest share in the regional market owing to the increase in the demand for Precious metals, the increase in the focus to recycle the existing metal to make jewelry rather than mining the existing metal is the key reason for the growth in the region. The rising focus among the women to wear precious metal like Platinum Gold, silver rather than artificial jewelry have further boosted the regional growth. The Asia Pacific region is expected to rise at a significant rate due to the increase in the demand among the women to wear jewelry made up of Precious metal especially in countries like India.

Players to Focus on advancing the technologies, Product Launches, and signing merger and acquisition deals

The Competitors are focusing on developing new technologies, product launches, and signing merger and acquisition deals. The major competitors of the Precious Metal Recycling Market are Umicore, PX Group, Materion, Sims Recycling Solutions, Emak Refining & Recycling, Johnson Matthey, Abington Metals, Tanaka and Dowa Holdings.

Umicore: Umicore is the leading competitor of the Precious Metal Recycling Market. In December 2019, Umicore had announced that it has completed the acquisition of the cobalt refining and cathode precursor activities of Freeport Cobalt for USD 203 million.  This acquisition was made by Umicore to expand capabilities with cobalt refining and cathode precursor activities

PX Group: PX Group, is one of the major competitor of the Precious Metal Recycling Market. In April 2020, PX Group had announced majority stake in NRG Well Management. The acquisition was made to strengthen PX Group, in the Oil and Gas industry.

Scope of the Report

By Type

• Au Recovery
• Pt Recovery
• Ag Recovery
• Others

By Application

• Catalyst Regeneration
• Electronics
• Jewelry
• Healthcare
• Others

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.