The precious metals mainly refer to eight metal elements such as gold, silver and platinum group metals (ruthenium, rhodium, palladium, iridium, osmium, platinum). Metals differ from other resources in that they remain with us forever in some form. Recycling metals following their use provides an important means to reduce the environmental burden resulting from mining primary ore, ensures the availability of a valuable secondary source of the metal, and conserves an irreplaceable resource that otherwise would be discarded.
The global Precious Metal Recycling market was valued at US$ 15.31 billion in 2020 and will reach US$ 20.92 billion by the end of 2027, growing at a CAGR of 5.06% during 2021-2027.
Global Precious Metal Recycling Market- Key Players
Umicore, PX Group, Materion, Sims Recycling Solutions, Johnson Matthey, Abington Reldan Metals, Tanaka, Dowa Holdings, Heraeus, Sino-Platinum Metals, Asahi Holdings, are analyzed in the report. Umicore, Johnson Matthey, Tanaka, Heraeus, Sino-Platinum Metals are leading manufacturers engaged in the precious metal business. In 2020, the top 5 players owns about 30% market share globally.
Global Precious Metal Recycling Market: Segmental Analysis
On the basis of product type, the global Precious Metal Recycling market is divided into Silver (Ag), Gold (Au), Platinum Group Metals. Among those types, Gold is the most widely used one and account for 76% market share in 2020. gold is a precious metal that has been used for coinage, jewelry, and other arts throughout recorded history. In the past, a gold standard was often implemented as a monetary policy. Gold's high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity have led to its continued use in corrosion resistant electrical connectors in all types of computerized devices (its chief industrial use). Gold is also used in infrared shielding, colored-glass production, gold leafing, and tooth restoration. Certain gold salts are still used as anti-inflammatories in medicine.
For Platinum Group Metals, they are six noble, precious metallic elements clustered together in the periodic table. The six platinum-group metals are ruthenium, rhodium, palladium, osmium, iridium, and platinum. They have similar physical and chemical properties, and tend to occur together in the same mineral deposits. The platinum metals have many useful catalytic properties. They are highly resistant to wear and tarnish, making platinum, in particular, well suited for fine jewelry. Other distinctive properties include resistance to chemical attack, excellent high-temperature characteristics, and stable electrical properties. All these properties have been exploited for industrial applications.
Global Precious Metal Recycling Market: Application Analysis
Precious Metal can be used in such filed, including Jewelry, Catalyst, Electronics, Battery, etc. In those applications, demand from Electronics accounts for largest share with about 30. The follower is Jewelry, which also owns more than 27% share.
Read More Information: https://www.qyresearch.com/index/detail/2791749/global-precious-metal-recycling-industry-research-report-growth-trends-and-competitive-analysis-2021-2027
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