The scrap gold recycling market has experienced strong expansion, growing from $13.50 billion in 2023 to $14.73 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.1%. This growth is driven by fluctuating gold prices, stringent environmental regulations, economic downturns encouraging recycling, increased electronic waste generation, rising corporate sustainability initiatives, and heightened consumer awareness of ethical sourcing. The market is anticipated to reach $21.10 billion by 2028, with a CAGR of 9.4%. This growth will be supported by shifting consumer preferences towards sustainable products, regulatory pressures for responsible sourcing, rising electronic waste volumes, and expanding awareness of environmental impacts. Emerging trends include advancements in recycling technology, improvements in mining methods, and innovation in electronic waste recycling processes.
Scrap Gold Recycling Market
The scrap gold recycling market is anticipated to benefit significantly from the rising gold prices. Economic uncertainty, inflation, and increased demand for safe-haven assets have driven up gold prices, making recycling more profitable and boosting the supply of recycled gold. The World Gold Council reported a rise in global gold prices from $58.72 per gram in January 2022 to $65.47 in January 2024. This upward trend is expected to enhance the growth of the scrap gold recycling market, propelling it from $0.78 billion in 2023 to $0.85 billion in 2024, with growth anticipated to reach $1.21 billion by 2028.
Scrap Gold Recycling Market Report
Scrap Gold Recycling Market Competitive Landscape
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
Key Scrap Gold Recycling Market Trend
In the scrap gold recycling market, companies are adopting innovative approaches like the mass balance method to verify recycled content claims. This method ensures transparency in tracking the proportion of recycled materials in products. In April 2024, Heraeus Precious Metals launched Circlear, featuring 100% recycled-content precious metals to promote a circular economy. Certified by TÜV Süd, this initiative significantly reduces carbon emissions compared to traditional production methods.
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Scrap Gold Recycling Market Segmentation
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
By Geography:The regions covered in the scrap gold recycling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the scrap gold recycling market in 2023.
