Wilmington, Delaware, United States, June 27, 2022 (GLOBE NEWSWIRE) -- The global wire and cable recycling market is estimated to register growth at a CAGR of 4.9% during the forecast period from 2022 to 2031, notes a study by Transparency Market Research (TMR). Moreover, this study provides in-depth understanding on major factors influencing the growth of the wire and cable recycling market. In addition, it sheds light on the recent developments in wire and cable recycling market.
Players are investing heavily in R&D projects in order to develop next-gen technologies in order to achieve energy consumption optimization and reuse of insulating materials in the wire and cable industry. The demand for wires and cables is estimated to increase in the electronics industry as they are considered integral part of the industry. Hence, companies engaged in the recycling and electronics industries are focusing on collaborations in order to adopt effective recycling practices and expand their scope in the e-waste recycling activities, notes TMR study on the global wire and cable recycling market.
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Wire and Cable Recycling Market: Key Findings
- Due to massive application of non-ferrous metals in the power infrastructure development, the demand for these metals is rising in the recent years. Hence, cable makers around the world are experiencing increasing gap between the demand and supply ratio. Recycling of wires and cables is projected to work as one of the prominent techniques in order to cater to the ever-increasing demand for non-ferrous metals from the power infrastructure industry. This factor, in turn, is bolstering the global wire and cable recycling market.
- Leading players in wire and cable recycling market are increasing efforts to recycle and recover e-waste produced globally. In this process, electronic parts of e-waste are being segregated and retrieved after their disposal. The amount of waste and scrap materials produced is being increasing across the globe in the recent years. This factor is expected to drive the future market demand for wire and cable recycling during the forecast period. Hence, the wire and cable recycling market is prognosticated to be valued at US$ 30.5 Bn by 2031.
Wire and Cable Recycling Market: Growth Boosters
- Rise in the amount of waste and scrap materials around the world is resulting into increased need for wire and cable recycling
- Surge in the understanding on concerns about global warming is working as largest revenue generator in wire and cable recycling market
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Wire and Cable Recycling Market: Regional Analysis
- The wire and cable recycling market in Europe is projected to maintain its leading position during the forecast period. This growth is attributed to the rising gap in the demand and supply of primary sources and increasing adoption recycling as one of the most effective technologies in order to decrease the use of primary resources.
- Asia Pacific is considered the fastest growing market for wire and cable recycling owing to the depletion of reserves and presence of stringent regulations by several organizations in the region
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Wire and Cable Recycling Market: Key Players
Some of the key players profiled in the report are:
- COHEN
- ANDRITZ
- MTB Recycling
- ELDAN Recycling A/S
- Boliden Group
- Bolduc Metal Recycling Inc.
- Aurubis AG
- Stena Metall Group
- Nirvana Recycling Pvt. Ltd. Daicel Corporation
- Henan Renewable Energy Technology Co.,Ltd
- Caffaro Industrie
- Dayangchem (Hangzhou) Co., Ltd.
- GRR Fine Chem
- Cromogenia Units
- Jinan Haohua Industry Co., Ltd.
- Haiyan Huashuaite Plastics Electric Appliances Co., Ltd.
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Wire and Cable Recycling Market Segmentation
Source
- Household Cables
- Industrial Cables
- Underground Cables
- Others
Component
- Insulating Material
- Polyvinyl Chloride (PVC)
- Ethylene Propylene
- Styrene-butadiene rubber (SBR)
- Ethyl Vinyl Acetate
- Polyethylene
- Others
- Conducting Material
- Copper
- Aluminum
- Others
- Others
Category
- Low Tension Cables
- Medium Tension Cables
- High Tension Cables
End-use
- Insulating Material
- Plastic Products
- Concrete Products
- Wood Products
- Others
- Conducting Material
- Transport
- Construction
- Electronics
- Others
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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