The increased use of electronic items, combined with shorter product lifecycles, is driving the global e-scrap recycling market share.
Wilmington, Delaware, United States, Sept. 18, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global e-scrap recycling market is projected to flourish at a CAGR of 7.6% from 2021 to 2031. As per the report published by TMR, a valuation of US$ 7.3 billion is anticipated for the market in 2031. As of 2023, the market for e-scrap recycling is expected to close at US$ 4.1 billion.
Increasing consumer awareness about the environmental impact of electronic waste encourages responsible recycling practices, increasing the volume of electronics sent for recycling, and driving the market demand.
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The growing global demand for electronic devices, including smartphones, laptops, tablets, and consumer electronics, leads to higher e-scrap generation, and the growing need to manage this waste appropriately, propels the growth of the market.
The global e-scrap recycling market is projected to grow at a significant pace during the forecast period, owing to the presence of institutions dealing with environmental issues, including e-scrap management, and the availability of large e-scrap volumes across the globe.
Key Takeaways from the Market Study
- As of 2022, the e-scrap recycling market was valued at US$ 3.8 billion
- Based on product type, the large white goods segment is anticipated to dominate the industry during the forecast period. The increase in demand for refrigerators and freezers, washing machines, dishwashers, and many other consumer electronic goods has resulted in a rise in the recycling of large white goods.
- Based on processed material, the metal segment dominates the market and is further anticipated to grow during the forecast period.
E-scrap Recycling Market: Key Trends and Opportunistic Frontiers
- Innovations in recycling technologies, including automated sorting, shredding, and material recovery processes, have made e-scrap recycling more efficient and cost-effective.
- Growing environmental awareness and concern about the impact of electronic waste on landfills, water, and air quality drive the demand for e-scrap recycling.
E-scrap Recycling Market- Regional Analysis
- Europe is expected to dominate the global e-scrap recycling industry during the forecast period. Amendment of stringent regulations regarding the e-scrap recycling process and a strong focus on recycling and sustainability, leading to a well-developed e-scrap recycling market. The EU’s WEEE (Waste Electrical and Electronic Equipment) Directive mandates responsible disposal and recycling of electronic waste.
- North America is anticipated to hold the largest E-scrap recycling market share during the forecast period owing to the strong presence of a well-established E-scrap recycling industry due to high levels of electronic device consumption. Stringent environmental regulations encourage recycling. The United States, in particular, has a mature e-scrap recycling ecosystem.
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The global e-scrap recycling market is consolidated, with a few large-scale vendors controlling a majority of the share. Most firms are investing significantly in comprehensive research and development activities to increase the availability of e-waste solutions. Transparency Market Research has profiled the following players in its global e-scrap recycling market report:
- JX Nippon Mining and Metal Corporation
- Umicore N.V.
- DOWA HOLDINGS Co., Ltd
- Sims Metal Management
- STENA METALL AB
- ITRenew, Inc.
- Electronic Recyclers International
- Enviro-Hub Holdings Ltd.
- Ecoreco Ltd.
- Global Electric Electronic Processing Inc.
Key Developments in the E-scrap Recycling Market
- Stena Metall Group, based in Sweden, is engaged in electronic waste recycling and circular economy initiatives. They have been developing innovative methods to recycle E-scrap efficiently.
- ERI is one of the largest electronic waste recycling companies in the United States. They have expanded their recycling operations and focus on secure data destruction and responsible recycling practices.
- Sims Limited, a global leader in metal and electronics recycling, has continued to invest in advanced recycling technologies and expand its E-scrap recycling operations worldwide. They focus on maximizing resource recovery from electronic waste.
- Umicore, a materials technology and recycling company, specializes in the recycling of precious metals from E-scrap. They have developed efficient processes for recovering valuable metals like gold, silver, and palladium.
E-scrap Recycling Market – Key Segments
- Information Technology (IT) and Telecommunications Equipment
- Computers & Laptops
- Telephones & Mobile Phones
- Printers & Scanners
- Others (Tablets, Wi-Fi devices etc.)
- Large White Goods
- Washing Machines
- Others (Dishwashers, Cooking Ranges etc.)
- Small Household Appliances
- Coffee Makers
- Stereo Equipment
- Others (Irons, Electric Toothbrushes etc.)
- Other Appliances (Handheld Drills, Sports Equipment, Electronic Toys etc.)
- Other Precious Metal
- Others (Aluminum, Polycarbonate etc.)
- North America
- Asia Pacific
- Middle East & Africa
- South America
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