Precious Metal Recovery and Refining Equipment: Introduction
- Metals that are rare, high in demand, and have high economic value are called precious metals. Economic value of precious metals is driven by their rarity and use in industrial processes and as investment vehicles. Gold, platinum, and silver are highly popular precious metals for investment purposes. Precious metals are employed in industrial processes; for instance, iridium is used in specialty alloys and palladium is utilized in electronics and chemical applications. Improvement in the recovery and refining processes of precious metals can result in lower prices. Precious metal recovery and refining equipment is a niche market that requires high investment.
Key Drivers and Restraints of Global Precious Metal Recovery and Refining Equipment Market
- Rise in demand for gold in rapidly expanding economies, such as India and China, increase in application of precious metals in various electrical and electronic devices, and a rise in the demand for these metals as investment vehicles are driving the global precious metals market. This, in turn, is expected to fuel the precious metal recovery and refining equipment market during the forecast period.
Precious Metal Recovery and Refining Equipment: Source of Metal Segments
- Based on source of metal, the precious metal recovery and refining equipment market can be classified into metal mining, recovery from waste, and electronic scrap. The electronic scrap segment is anticipated to expand at a rapid pace during the forecast period due to a rise in environment concerns posed by electronic waste.
Precious Metal Recovery and Refining Equipment: Type of Precious Metals Segments
- In terms of type of precious metals, the precious metal recovery & refining equipment market can be divided into rhodium, platinum, gold, ruthenium, iridium, osmium, palladium, rhenium, silver, and indium. Gold, silver, platinum, and palladium are major segments of the precious metal recovery and refining equipment market.
Precious Metal Recovery and Refining Equipment: Type of Equipment and System Segments
- Based on the type of equipment and system, the precious metal recovery and refining market can be segregated into gold centrifuge gravity concentrator, shaking table, carbon regeneration kilns, mercury abatement systems, solution heater skids, electro-winning cells, intensive leach reactor, and others
- Electro-winning is the recovery of metals, such as gold and silver, from a solution by passing a current through the solution. Electrons from the current chemically reduce the gold and/or silver ions to form a solid metal compound on the cathode. Cyanide leaching is commonly employed to recover gold from ore slurries or ore heaps. Gravity concentration is the separation of minerals based on differences in specific gravity. The gravity concentration process is designed to recover high grade valuable ore materials into small masses.
COVID-19 Impact on Precious Metal Recovery and Refining Equipment Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world. Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacturing of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, and other reasons. This is expected to hamper the precious metal recovery and refining equipment market.
Asia Pacific to Dominate Precious Metal Recovery and Refining Equipment Market
- In terms of region, the global precious metal recovery and refining equipment market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to dominate the precious metal recovery and refining equipment market, closely followed by North America and Europe. The region is anticipated to dominate the market during the forecast period. Currently, China accounts for a major share of the precious metal recovery and refining equipment market in the region. The country is anticipated to remain a prominent market for precious metal recovery and refining equipment during the forecast period. This can be primarily ascribed to the rapid industrialization and increasing demand from electronic applications industries in the country. Furthermore, Asia Pacific is the leading manufacturer and consumer of graphite-based dry lubricant. The graphite-based lubricant segment dominates the market in India and China owing to the presence of major manufacturers in these countries, thereby providing optimum contribution to the global dry lubricant market. North America is the second-largest consumer of precious metal recovery and refining equipment. Demand for precious metal recovery and refining equipment in the region is primarily owing to the large industrial and automotive applications in the region. The precious metal recovery and refining equipment market in Middle East & Africa and Europe is anticipated to expand at a rapid pace in the next few years. This is primarily due to increasing industrialization and higher rate of adoption of precious metal recovery and refining equipment in the respective regions.
Key Manufacturers Operating in Global Precious Metal Recovery and Refining Equipment Market
The global precious metal recovery and refining equipment market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global precious metal recovery and refining equipment market include:
- IFLSmidth
- Gekko Systems
- CGS Mining
- DOVE EQUIPMENT and MACHINERY
- MT. BAKER MINING AND METALS
- Metso Corporation
- Kemix Pty Ltd
- Sepro Mineral Systems Corporation
- Consep Pty Ltd
- Appropriate Process Technologies
- ANSAC PTY LTD
- Nutec Bickley
Global Precious Metal Recovery and Refining Equipment Market: Research Scope
Global Precious Metal Recovery and Refining Equipment Market, by Source of Metal
- Metal Mining
- Recovery From Waste
- Electronic Scrap
Global Precious Metal Recovery and Refining Equipment Market, by Type of Precious Metals
- Rhodium
- Platinum
- Gold
- Ruthenium
- Iridium
- Osmium
- Palladium
- Rhenium
- Silver
- Indium
Global Precious Metal Recovery and Refining Equipment Market, by Type of Equipment and System
- Gold Centrifuge Gravity Concentrator
- Shaking Table
- Carbon Regeneration Kilns
- Mercury Abatement Systems
- Solution Heater Skids
- Electro-Winning Cells
- Intensive Leach Reactor
- Others
Global Precious Metal Recovery and Refining Equipment Market, by Region
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
