Metals that are rare, high in demand, and have high economic value are called precious metals. Economic value of precious metals is driven by factors such as their rarity, uses in industrial processes, and investment vehicles. Gold, platinum, and silver are highly popular precious metals for investment purposes. Precious metals are employed in industrial processes, for example iridium, which is used in specialty alloys, and palladium, which is used 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 which requires high investment.
Rise in demand for gold in the fastest growing nations such as India and China, increase in application of precious metals in various electrical and electronic devices, and growth in 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.
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 recovery from electronic scrap segment is anticipated to expand at a fast pace during the forecast period due to the rise in environment concerns posed by electronic waste.
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 the major segments of the precious metal recovery and refining equipment market.
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, electrowinning cells, intensive leach reactor, and others. Electrowinning 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 used for recovering gold from ore slurries or ore heaps. Gravity concentration is the separation of minerals based on differences in a specific gravity. The gravity concentration process is designed to recover high grade valuable ore materials into small masses.
In terms of geography, the precious metal recovery and refining equipment market can be split into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is the significant region of the precious metal recovery and refining equipment market in terms of value. Asia Pacific is a rapidly growing region of the precious metal recovery and refining equipment market. The precious metal recovery and refining equipment market in Europe, Latin America, and Middle East & Africa is anticipated to expand at a healthy pace during the forecast period.
Key players operating in the precious metal recovery and refining equipment market are IFLSmidth, Gekko Systems, CGS Mining, DOVE EQUIPMENT & MACHINERY CO. LTD., MT. BAKER MINING AND METALS, Metso Corporation, Kemix Pty Ltd., Sepro Mineral Systems Corporation, Consep Pty Ltd, Appropriate Process Technologies, ANSAC PTY LTD, and Nutec Bickley.
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