Allied Market Research published a report, titled, “E-Scrap Recycling Market by Product Type (IT and Telecommunication Equipment, Large White Goods, Small Household Appliances, Others) by Processed Materials (plastic, Metal, Glass, Others) Global Opportunity Analysis and Industry Forecast, 2022-2032” According to the report, the global E-Scrap Recycling industry generated $25.9 billion in 2022, and is projected to reach $96.7 billion by 2032, registering a CAGR of 14.2% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Prime Determinants of Growth
The global E-Scrap recycling market is experiencing growth due to several factors such as, rising awareness of the negative impact of landfills on the environment, availability of large volumes of e-scrap across the world, and implementation of strict regulations to prevent environmental damage. On the other hand, high costs associated with the recycling process restrain the growth to some extent. However, a rise in the purchase of large white goods has paved the way for lucrative opportunities in the industry.
The large white goods segment to maintain its dominance during the forecast period
By product type, the large white goods segment accounted for nearly two-fifths of the E-Scrap Recycling market revenue in 2022, and is projected to retain the lion’s share by 2032. The same segment would portray the fastest CAGR of 14.95% throughout the forecast timeframe. This is because large white goods are typically made up of various materials, including steel, aluminum, copper, and plastics. These materials can be recycled and reused, making them valuable in the e-scrap recycling market. Implementation of stringent regulatory frameworks regarding the recycling of electronic waste across the globe has resulted in growth in the recycling of large white goods.
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The metal segment to rule the roost
By processed materials, the metal segment dominated the E-Scrap Recycling market in 2022, contributing nearly half of the total revenue, and is expected to maintain this position by 2032. This is due to the crucial role of E-scrap recycling in recovering and reusing various types of metals, including precious metals like gold, silver, palladium, and platinum, as well as base metals like copper, aluminum, and iron, which are abundantly present in electronic waste. The increasing demand for electronic devices and their short lifespan, coupled with improper disposal methods, has resulted in the accumulation of electronic waste. However, the plastic segment would cite the fastest CAGR of 15.01% from 2023 to 2032. This is because, plastic recycling is expected to increase significantly over the next few years as plastic usage increases.
Asia-Pacific garnered the major share in 2022
By region, Asia-Pacific contributed to the highest share in 2022, garnering around two-fifths of the E-Scrap Recycling market revenue, and is estimated to maintain its leadership status throughout the forecast period. The growth is attributed to the rise in the trend of exporting electronic waste from western countries to Asia. On the other hand, Europe is expected to witness the fastest CAGR of 15.04% from 2023 to 2032. This is due to the fact that many companies operating in the E-scrap recycling market are from Europe. They are providing services such as collection, dismantling, sorting, and recycling of electronic waste.
Leading Market Players
- Stena Metall AB
- Electronic Recyclers International
- JX Nippon Mining & Metals Corporation
- DOWA ECO-SYSTEM Co.,Ltd.
- Umicore N.V.
- Ecoreco Ltd.
- Quantum Lifecycle Partners
- WM Intellectual Property Holdings, L.L.C.
- Desco Electronic Recyclers
- Iron Mountain Incorporated
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