Wire and Cable Recycling Market Outlook 2031
- The global wire and cable recycling market was valued over US$ 7.1 Mn in 2021
- It is estimated to grow at a CAGR of 6.2% from 2022 to 2031
- The global wire and cable recycling market is expected to reach value of US$ 12.8 Mn by the end of 2031
Overview of Global Wire and Cable Recycling Market
Various types of wires and cables with different material compounds are used as conducting and insulating materials. Inherently, the strands in the core are valuable as secondary raw materials due to their high metal content. In most cases, individual materials in cables or flexible wires adhere very closely to one another. The recycling technology is required to expose and process these fractions that produce small grain sizes for optimum separation. Thus, favorable properties of wire and cable recycling, specifically for applications in the extraction of valuable metals, are expected to fuel the growth of the wire and cable recycling market during the forecast period.
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Increase in Copper Recovery without Environmental Destruction
Electronic waste is the fastest-growing sector of the waste stream. Most of the electronic waste generated is sent to landfills and incinerators. Cables and wires are indispensable parts of the electrical and electronics industry, which consists of plastics, aluminum, and copper. Cables are usually recycled once the electronic apparatus completes its useful life. Waste cable is an important source of raw material in terms of non-ferrous metal content. It helps recover metallic content for economic and ecological reasons. Recovery of these metals decreases the danger of global warming. Metals can be infinitely recycled without affecting their initial qualities.
Recycling operations use significantly less energy than primary production methods, thus resulting in lower CO2 emissions. Metallic elements of waste cables are physically separated from polymers using gravity and electrostatic separation techniques after they are shredded to reduce their size. Smelting and refining are used to extract copper from the metallic portion. Around 97.2% of copper in waste cables is recovered.
Regional Outlook of Global Wire and Cable Recycling Market
Europe held the largest volume share of 58.0% of the global wire and cable recycling market in 2021. The EU’s material self-sufficiency has been weakened by the rising demand and supply of primary resources, which put pressure on the environment. Recycling is one of the most effective techniques to reduce primary resource usage with the substitution of secondary products created from recycled wires and cables.
Asia Pacific held value share of nearly 30% of the global market in 2021, as a result of the enactment of strict regulations by various organizations and depletion of reserves. PVC accounts for the highest value share of the component segment in the region.
The market in North America and Middle East & Africa is expected to grow at nearly the same CAGR during the forecast period as in 2021. North America is expected to hold greater volume share than Middle East & Africa during the forecast period.
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Analysis of Key Players in Global Wire and Cable Recycling Market
The global wire and cable recycling market is fragmented, with the presence of a few large vendors. Majority of firms are investing significantly in research and development activities, primarily to develop recycling methods with optimum energy usage. ANDRITZ, COHEN, ELDAN Recycling A/S, NKT, MTB Recycling, Bolduc Metal Recycling Inc., Stena Metall Group, Aurubis AG, and Henan Renewable Energy Technology Co., Ltd are the prominent entities operating in this market.
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