Scrap Gold Recycling Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Scrap Gold Recycling Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Scrap Gold Recycling Global Market Report 2024, The scrap gold recycling market size has grown strongly in recent years. It will grow 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.

The scrap gold recycling market size is expected to see strong growth in the next few years. It will grow to $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. Major trends in the forecast period include technological advancements in recycling processes, advancements in mining methods, adoption of sustainable practices, advancements in electronic waste recycling, and innovation in extraction processes.

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. For instance, according to the World Gold Council, a UK-based international trade association for the gold industry, the global gold price increased from $58.72 per gram in January 2022 to $65.47 in January 2024. Therefore, the rise in gold prices is driving the growth of the scrap gold recycling market.

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The scrap gold recycling market covered in this report is 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

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. For instance, in April 2024, Heraeus Precious Metals, a Germany-based precious metals industry, launched Circlear to meet the increasing demand for sustainable solutions in the precious metals industry. Circlear features 100% recycled-content precious metals such as gold, silver, and platinum, promoting a circular economy by reducing reliance on primary extraction. Certified by TÜV Süd, Circlear ensures high-quality standards while significantly lowering carbon emissions compared to conventional production methods.

The scrap gold recycling market report table of contents includes:

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
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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
36. Appendix

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