Wire & Cable Recycling Market: Introduction
- Wire and cable recycling refers to the process of converting wire and cable scrap into reusable material. It is an alternative for the conventional waste disposal, which can reduce greenhouse gas (GHG) emissions.
Key Drivers and Restraints of Global Wire & Cable Recycling Market
- Surge in the volume of wire and cable scrap has raised concerns about the environment, due to improper disposal of wire and cable wastes. This, in turn, is expected to drive the global wire & cable recycling market during the forecast period.
- Growing efforts to maintain sustainability of primary metal sources and increasing demand for copper from various industries, including electrical & electronics (E&E), automotive, and manufacturing, is projected to drive the global wire & cable recycling market during the forecast period. Furthermore, increase in efforts to reduce the production cost is also expected to propel the global market in the near future.
- Rise in investments in the construction industry led by improvement in the living standards, increase in the purchasing power, migration of people from rural to urban areas, and strong economic growth, in developing as well as developed countries, is anticipated to propel the global wire & cable recycling market during the forecast period
- However, improper waste disposal is expected to restrain the global wire & cable recycling market during the forecast period
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Electrical & Electronics Segment Expected to Hold a Major Share of Global Market
- The global wire & cable recycling market can be segmented based on application, metal type, and region
- In terms of metal, the global wire & cable recycling market can be divided into copper, aluminum, and others. Copper is predominantly used in the wire & cable industry owing to its high conductivity.
- In terms of application, the global recycled copper market can be divided into electrical & electronics, building & construction, power, communication, transportation, and others. Building & construction is one of the major end-users of wires and cables, due to increase in the demand for distribution of electricity from one point to another within electric appliances in residential establishments.
North America Expected to Hold a Major Share of Global Wire & Cable Recycling Market
- In terms of region, the global wire & cable recycling market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- The wire & cable recycling market in North America is projected to witness rapid growth during the forecast period. This growth can be attributed to increase in the volume of wire and cable scrap generated from residential and commercial establishments across the region.
- The wire & cable recycling market in Asia Pacific is anticipated to expand at a significant pace during the forecast period, due to the increase in investments in building and construction activities primarily in Japan, South Korea, India, and China backed by rise in migration of people from rural to urban areas
- The wire & cable recycling market in Europe is estimated to witness growth during the forecast period, due to surge in spending on the development of electric infrastructures. Wires are largely used in residential and commercial buildings to convey electric current to all power applications in a building or dwelling.
- The wire & cable recycling market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period. This growth can be attributed to increase in investments in the infrastructure sector in these regions. For instance, in 2019, Middle East & North Africa announced to invest US$ 209 Bn in the power sector in the next five years to fulfill the surging electricity demand, as countries in the region continue investing in renewable energy projects.
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Key Players Operating in Global Market
Leading companies operating in the global wire & cable recycling market include:
- REDOMA Recycling AB
- MTB Recycling
- Bolduc Metal Recycling Inc.
- The Angelus Corporation
Global Wire & Cable Recycling Market: Research Scope
Global Wire & Cable Recycling Market, by Application
Electrical & Electronics
- Building & Construction
Global Wire & Cable Recycling Market, by Scrap
Global Wire & Cable Recycling Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.