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Scrap Gold Recycling Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Scrap gold Recycling Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 19, 2024 /EINPresswire / -- The scrap gold recycling market has experienced robust growth in recent years, expanding from $13.50 billion in 2023 to $14.73 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to fluctuating gold prices, increase in environmental regulations, rise in economic downturns fostering recycling incentives, growth in electronic waste generation, rise in corporate sustainability initiatives, and surge in consumer awareness of ethical sourcing practices.
What Is The Estimated Market Size Of The Global Scrap Gold Recycling Market And Its Annual Growth Rate?
The scrap gold recycling market is projected to continue its strong growth, reaching $21.10 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to evolving consumer preferences towards sustainable products, increasing regulatory push towards responsible sourcing, increasing electronic waste volumes, increasing industrial applications using gold, increasing volatility in gold prices, and expanding awareness of environmental impacts among businesses.
Explore Comprehensive Insights Into The Global Scrap Gold Recycling Market With A Detailed Sample Report:
Growth Driver Of The Scrap Gold Recycling Market
The rise in gold prices is expected to propel the growth of the scrap gold recycling market going forward. The increase in gold prices is attributed to economic uncertainty, inflation concerns, fluctuating currency values, and increased demand for safe-haven assets among investors. The rise in gold prices incentivizes scrap gold recycling by making it more profitable for individuals and businesses to recycle and sell their gold, increasing the supply of recycled gold in the market.
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Which Market Players Are Driving The Scrap Gold Recycling Market Growth?
Key players in the tem market include Glencore plc, Rio Tinto Group, Umicore N.V., Aurubis AG, Teck Resources Limited, Barrick Gold Corporation, Boliden AB, Dillon Gage Inc., Elemetal LLC, Sipi Metals Corporation, Metallix Refining Inc., Gannon & Scott, United Precious Metal Refining Inc., David H. Fell & Company Inc., RPM Industries LLC, Garfield Refining, Gold Refiners LLC, Mid-States Recycling & Refining Inc., Arch Enterprises Inc., Manhattan Gold & Silver, Northern Refineries Inc., Geib Refining Corporation, Republic Metals Corporation, Aurum Metals, Doral Refining Corporation.
What Are the Key Trends That Influence The Scrap Gold Recycling Market Size?
Major companies operating in the scrap gold recycling market are focusing on adopting innovative approaches, such as the mass balance approach, to verify claims of recycled content. The mass balance approach is used to trace and certify the proportion of recycled or sustainably sourced materials in a product or process. It ensures that the amount of recycled content used corresponds to the amount of recycled material inputted into the system, providing transparency and accountability for sustainability claims.
How Is The Global Scrap Gold Recycling Market Segmented?
1) By Processing Technique: Pyrometallurgical, Hydrometallurgical, Other Processing Techniques
2) By Scrap: New Scrap Metal Recycling, Old Scrap Metal Recycling
3) By Application: Jewelry, Catalysts, Electronics, Batteries, Other Applications
Geographical Insights: Europe Leading The Scrap Gold Recycling Market
Europe was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Scrap Gold Recycling Market Definition
Scrap gold recycling is the process of collecting, refining, and reusing gold from discarded or unwanted items. This process involves melting the gold-containing materials, purifying the gold, and repurposing it into new products. Recycling scrap gold helps conserve natural resources, reduces environmental impact, and provides a cost-effective source of precious metal for various industries.
Scrap Gold Recycling Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global scrap gold recycling market report covering trends, opportunities, strategies, and more
The Scrap Gold Recycling Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on scrap gold recycling market size, scrap gold recycling market drivers and trends, scrap gold recycling market major players and scrap gold recycling market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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