Extracting Precious Metals from Electronic Waste – A Booming Opportunity
Driven by such trends, the global electronic scrap recycling market generates significant revenue. According to a market research firm, Transparency Market Research (TMR), the global electronic scrap recycling market was estimated at US$11 bn in 2014. With a CAGR of 15.70% during the forecast period from 2015 to 2022, the global electronic scrap recycling market is expected to reach a remarkable US$34.32 bn. Let’s take a look at the opportunity of extracting valuable metals in detail.
Electronic Scrap is Growing at 3 Times the Rate of Regular Waste
Even though e-waste can be poisonous if mishandled, it contains several precious metals. According to a study conducted by the United Nations University, processors, connecting pins, and chips contain seams of palladium, gold, and silver and these deposits are 40 to 50 times richer compared to dug-up ores.
Electronic scrap or e-waste is expanding at three times the rate of regular rubbish. This is driven by the increasingly shorter lifecycle of electronics and the high appetite for consumer electronics, particularly in the burgeoning middle class in developing economies. These factors are driving the global electronic scrap recycling market significantly.
The growing volume of electronic scrap will offer even more recycling opportunities to extract precious metals. Developing nations have huge piles of e-waste. However, according to TMR, Asia Pacific is expected to witness the fastest growth in the global electronic scrap recycling market in the coming years. APAC will benefit from the tons of e-waste generated in countries such as China, India, Japan, Singapore, and South Korea. Hence, players operating in APAC will particularly benefit from the opportunity of recycling electronic scrap to extract valuable metals due to the availability of large volumes of e-waste.