Wire and Cable Recycling Market: Current Analysis and Forecast (2023-2030)
Emphasis on Source (Household Cables; Industrial Cables; Underground Cables; and Others); Component (Insulating Material and Conducting Material); Category (Low Tension Cables; Medium Tension Cables; and High-Tension Cables); and Region/Country
The Wire and Cable Recycling Market was valued at 4.25 million in 2022 and is expected to grow at a steady rate of around 6.05% in the forecasted period (2023-2030). The major factors contributing to the growth of the market are the ever-growing need for sustainable and eco-friendly solutions, the rising awareness of the significance of e-waste management, and the accelerated expansion of the electronics industry. Moreover, Governments worldwide have enacted regulations to facilitate the effective management of e-waste. For instance, the European Union has adopted the Waste Electrical and Electronic Equipment (WEEE) directive, which obligates those who manufacture such materials to take back and recycle specific types of electronic waste. Likewise, China has instituted the “Extended Producer Responsibility” (EPR) policy, which requires manufacturers to reclaim and recycle certain types of electronic waste. These regulations are contributing to the expansion of the e-waste recycling market. Additionally, the growing awareness of environmental impact as consumer consciousness grows regarding the environmental effects of electronic waste, and demand for sustainable disposal solutions has seen a marked increase, stimulating a rise in e-waste recycling services. For instance, in August 2022, according to the report published by GreenPrint, a PDI company, 66 percent of US consumers and 80 percent of young US adults (ages 18-34) surveyed are willing to pay more for sustainable products versus less sustainable competitors.
Some of the major players operating in the market include ANDRITZ, COHEN, MTB Recycling, Boliden Group, Aurubis AG, Stena Metall Group, Caffaro Industries, GRR Fine Chem, ELDAN Recycling A/S, Bolduc Matal Recycling Inc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst sources, the industrial segment dominated the market in 2022.”
Based on source, the market is divided into household cables, industrial cables, underground cables, and others. The industrial cables segment dominated the market in 2022 and is expected to show the same fashion in the forecast period. Due to the extensive use of Industrial Cables in various industries such as manufacturing, construction, and oil and gas, a high demand for Industrial Cables has been observed. Additionally, these cables are frequently used in underwater applications such as offshore drilling, pipeline laying, and underwater welding. In recent years, there have been significant technological advancements in the field of cables, particularly around Industrial Cables. Some of the recent developments such as industrial cables are made from advanced materials such as fiber-reinforced polymers (FRP), which offer improved strength, durability, and resistance to corrosion. “Amongst components, the conducting material segment generated the highest revenue in 2022.”
Based on components, the market is bifurcated insulating Material, and conducting material. The conducting material segment generated the highest revenue in 2022 and is expected to showcase the same trend in the forecast period due to the increasing demand for underwater communication and data transmission. Materials specifically designed for underwater application are utilized to construct underwater power cables, which are necessary for providing power to underwater apparatus and machinery. Moreover, autonomous underwater vehicles (AUVs) are being used more frequently in underwater exploration and research, which is driving the demand for conducting materials to build underwater cables and other equipment.
“Asia Pacific is the fastest growing market for wire and cable recycling market in 2022.”
The Asia Pacific wire and cable recycling market is the fastest-growing market and is expected to behave in the same fashion in the forecast period due to rapid industrialization and economic growth. The Asia Pacific region is home to some of the world’s most expansive economies, such as China, India, and Japan. As these nations have advanced in industrialization and economic growth, there has also been an augmented demand for wire and recycling facilities. Moreover, many governments in Asia Pacific have implemented policies and regulations aimed at promoting sustainability and reducing waste. These policies have created a demand for wire and recycling facilities, as well as incentives for companies to invest in these technologies.
Wire and Cable Recycling Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global wire and cable recycling market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
Frequently Asked Questions (FAQ)
Table of Contents
Research Methodology for the Wire and Cable Recycling Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global wire and cable recycling market were the three major steps undertaken to create and analyze the adoption of wire and cable recycling in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global wire and cable recycling market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the wire and cable recycling market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the wire and cable recycling market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as source, component, and category. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the wire and cable recycling market. Further, we conducted factor analysis using dependent and independent variables such as the source, component, and category of the wire and cable recycling market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the wire and cable recycling market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global wire and cable recycling market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the wire and cable recycling market across the major markets domestically.
- All percentage shares, splits, and breakdowns of market segments and sub-segments.
- Key players in the global wire and cable recycling market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global wire and cable recycling market, data was split into several segments & sub-segments after studying various parameters and trends in the areas of source, component, and category in the global wire and cable recycling market.
The main objective of the Wire and Cable Recycling Market Study
The current & future market trends of the global wire and cable recycling market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the wire and cable recycling market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of source, component, and category.
- Define and analyze the regulatory framework for the wire and cable recycling
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the wire and cable recycling market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profile of the wire and cable recycling market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the global wire and cable recycling market?
Q2: What are the driving factors for the growth of the global wire and cable recycling Market?
Q3: Which segment has the largest share of the global wire and cable recycling market by Source?
Q4: What are the emerging technologies and trends in the global wire and cable recycling market?
Q6: Who are the key players operating in the global wire and cable recycling market?
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