Global Wire and Cable Recycling Market to Grow

According to a study by Transparency Market Research, the global wire and cable recycling market is forecast to reach a value of 30.5 billion US-Dollar by 2031.

As reported, players are investing heavily in R&D projects to develop next-gen technologies to achieve energy consumption optimization and reuse of insulating materials in the wire and cable industry. “The demand for wires and cables is estimated to increase in the electronics industry as they are considered an integral part of the industry,” the market research firm stated. Hence, companies engaged in the recycling and electronics industries were focusing on collaborations to adopt effective recycling practices and expand their scope in e-waste recycling activities.

Increasing gap between the demand and supply ratio
Due to the massive application of non-ferrous metals in the power infrastructure development, the demand for these metals is rising in recent years, the company underlined. Hence, cable makers worldwide were experiencing an increasing gap between the demand and supply ratio. “Recycling of wires and cables is projected to work as one of the prominent techniques in order to cater to the ever-increasing demand for non-ferrous metals from the power infrastructure industry. This factor, in turn, is bolstering the global wire and cable recycling market.”

(Published in GLOBAL RECYCLING Magazine 3/2022, Page 31, Photo: O. Kürth)