(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 21, 2024 (GLOBE NEWSWIRE) -- The "Scrap Gold Recycling market Report 2024" has been added to ResearchAndMarkets.com's offering.
The scrap gold recycling market size has grown strongly in recent years, from $13.5 billion in 2023 to $14.73 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The increase observed during the historic period can be linked to varying gold prices, stricter environmental regulations, economic downturns that incentivized recycling, a rise in electronic waste, enhanced corporate sustainability efforts, and greater consumer awareness about ethical sourcing practices.
The scrap gold recycling market size is expected to see strong growth in the next few years. It will grow to $21.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. Future growth is expected due to shifting consumer preferences towards sustainable products, a stronger regulatory focus on responsible sourcing, rising volumes of electronic waste, increased industrial use of gold, fluctuating gold prices, and growing business awareness of environmental impacts. Key trends during the forecast period include advancements in recycling technology, improvements in mining techniques, a shift towards sustainable practices, progress in electronic waste recycling, and innovations in extraction methods.
The anticipated increase in gold prices is likely to drive the growth of the scrap gold recycling market in the future. This rise in gold prices is driven by factors such as economic instability, concerns about inflation, currency value fluctuations, and a heightened demand for safe-haven assets among investors. Higher gold prices make scrap gold recycling more lucrative for both individuals and businesses, thereby boosting the supply of recycled gold. For example, the World Gold Council reported that the global gold price rose from $58.72 per gram in January 2022 to $65.47 in January 2024. Consequently, this price increase is fueling the expansion of the scrap gold recycling market.
Key players in the scrap gold recycling market are embracing innovative methods such as the mass balance approach to authenticate claims of recycled content. The mass balance approach involves tracking and certifying the proportion of recycled or sustainably sourced materials within a product or process. It ensures that the amount of recycled content used aligns with the amount of recycled material introduced into the system, offering transparency and accountability for sustainability claims. For instance, in April 2024, Heraeus Precious Metals, a precious metals industry leader based in Germany, introduced Circlear to address the growing demand for sustainable solutions in the precious metals sector. Circlear features precious metals such as gold, silver, and platinum with 100% recycled content, fostering a circular economy by reducing dependence on primary extraction. Certified by TUV Sud, Circlear upholds high-quality standards and significantly reduces carbon emissions compared to traditional production methods.
In February 2024, Hensel Recycling, a precious metals recycling firm based in the US, acquired Red Fox Resources for an undisclosed sum. This acquisition enables Hensel to enhance its presence and expand its customer base in the US and North American markets, especially on the West Coast. Red Fox Resources is a US-based company specializing in recycling precious metals such as gold, copper, and zinc.
Major companies operating in the scrap gold recycling market are Glencore, Rio Tinto, Umicore, Aurubis, Teck Resources, Barrick Gold, Boliden, Dillon Gage, Elemetal, Sipi Metals Corporation, Metallix Refining, Gannon & Scott, United Precious Metal Refining, David H. Fell & Company, RPM Industries, Garfield Refining, Gold Refiners, Mid-States Recycling & Refining, Arch Enterprises, Manhattan Gold & Silver, Northern Refineries, Geib Refining Corporation, Republic Metals, Aurum Metals and Doral Refining.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Markets Covered:
By Processing Technique: Pyrometallurgical; Hydrometallurgical; Other Processing Techniques By Scrap: New Scrap Metal Recycling; Old Scrap Metal Recycling By Application: Jewelry; Catalysts; Electronics; Batteries; Other Applications
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $14.73 Billion |
| Forecasted Market Value (USD) by 2028 | $21.1 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Scrap Gold Recycling Market Characteristics
3. Scrap Gold Recycling Market Trends and Strategies
4. Scrap Gold Recycling Market - Macro Economic Scenario
5. Global Scrap Gold Recycling Market Size and Growth
5.1. Global Scrap Gold Recycling Market Drivers and Restraints
5.2. Global Scrap Gold Recycling Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Scrap Gold Recycling Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Scrap Gold Recycling Market Segmentation
6.1. Global Scrap Gold Recycling Market, Segmentation by Processing Technique, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Pyrometallurgical Hydrometallurgical Other Processing Techniques
6.2. Global Scrap Gold Recycling Market, Segmentation by Scrap, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
New Scrap Metal Recycling Old Scrap Metal Recycling
6.3. Global Scrap Gold Recycling Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Jewelry Catalysts Electronics Batteries Other Applications
7. Scrap Gold Recycling Market Regional and Country Analysis
7.1. Global Scrap Gold Recycling Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Scrap Gold Recycling Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Scrap Gold Recycling Market
9. China Scrap Gold Recycling Market
10. India Scrap Gold Recycling Market
11. Japan Scrap Gold Recycling Market
12. Australia Scrap Gold Recycling Market
13. Indonesia Scrap Gold Recycling Market
14. South Korea Scrap Gold Recycling Market
15. Western Europe Scrap Gold Recycling Market
16. UK Scrap Gold Recycling Market
17. Germany Scrap Gold Recycling Market
18. France Scrap Gold Recycling Market
19. Italy Scrap Gold Recycling Market
20. Spain Scrap Gold Recycling Market
21. Eastern Europe Scrap Gold Recycling Market
22. Russia Scrap Gold Recycling Market
23. North America Scrap Gold Recycling Market
24. USA Scrap Gold Recycling Market
25. Canada Scrap Gold Recycling Market
26. South America Scrap Gold Recycling Market
27. Brazil Scrap Gold Recycling Market
28. Middle East Scrap Gold Recycling Market
29. Africa Scrap Gold Recycling Market
30. Scrap Gold Recycling Market Competitive Landscape and Company Profiles
30.1. Scrap Gold Recycling Market Competitive Landscape
30.2. Scrap Gold Recycling Market Company Profiles
Glencore Rio Tinto Group Umicore Aurubis Teck Resources
31. Scrap Gold Recycling Market Other Major and Innovative Companies
Barrick Gold Corporation Boliden Dillon Gage Inc. Elemetal 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
32. Global Scrap Gold Recycling Market Competitive Benchmarking
33. Global Scrap Gold Recycling Market Competitive Dashboard
34. Key Mergers and Acquisitions in the Scrap Gold Recycling Market
35. Scrap Gold Recycling Market Future Outlook and Potential Analysis
35.1 Scrap Gold Recycling Market in 2028 - Countries Offering Most New Opportunities
35.2 Scrap Gold Recycling Market in 2028 - Segments Offering Most New Opportunities
35.3 Scrap Gold Recycling Market in 2028 - Growth Strategies
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Scrap Gold Recycling Market
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