E-Scrap Recycling Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value for the e-scrap recycling market was valued at USD 26.1 billion in 2022, and a CAGR of 14.3% is expected during the forecast period. Increasing growth in urban mining opportunities and technological advancements, along with government circular economy policies, is driving growth in the market. Advancements in sorting technologies and technological innovations in recycling processes are driving significant growth in the market. Worldwide advancements in technology have led to a significant rise in demand for electrical and electronic equipment.

Increasing awareness among people about recycling and reusing is driving the demand for the E-Scrap Recycling Market. The e-scrap recycling market refers to the recycling and processing of e-waste, which includes discarded electronic devices. The increased volume of electronic devices being disposed of globally is driving the demand for e-scrap recycling.

Impact of Covid-19

COVID-19 has had a mixed impact on the e-scrap recycling market. With more people working and studying at home during lockdown, there was a surge in the purchase and use of electronic devices, leading to higher volumes of e-waste generation. The pandemic underscored the importance of sustainability and environmental responsibility. Due to disruptions in the supply chain, social distancing measures affected the collection and transportation of e-scrap materials. Some e-scrap recycling activities experienced temporary closures or reduced operational capacity due to a shortage of manpower.

Economic uncertainties and shifts in consumer behavior changed the market dynamics temporarily. The proliferation of electronic devices and rapid technological advancements led to a higher turnover of electronic products, resulting in a larger volume of e-waste generated globally. Growing awareness about the environmental impact of improper e-waste disposal, including pollution and resource depletion, has prompted governments and organizations to encourage e-waste recycling. E-scrap recycling offers an opportunity to recover valuable materials such as metals, plastics, and rare earth metals, reducing the need for virgin materials and conserving natural resources.

Growth Drivers

Increasing awareness about the hygiene and recycling of products is driving the growth of the market. Innovations in recycling technology have improved the efficiency and effectiveness of e-waste recycling processes, enabling higher recovery rates and better resource utilization. Increasing recovery of valuable metals, plastics, and rare earth elements reduces the need for virgin material and conserves natural resources.

Growing awareness about the environmental impact of improper e-waste disposal, including pollution and resource depletion, has prompted governments and organizations to implement regulations and initiatives encouraging e-waste recycling. Worldwide advancements in technology have significantly raised the price of electric and electronic equipment. Proper management of e-scrap is essential. Growing awareness about environmental pollution and the need for sustainable practices encourages the government and businesses to invest in e-scrap recycling to minimize electronic waste’s negative impact on the environment.

Implementation of stringent regulations and policies by governments worldwide to manage electronic waste effectively creates opportunities for e-scrap recycling companies to expand their operations and meet compliance standards. The desire to conserve valuable resources, such as precious metals and rare earth, present in electronic devices incentivizes the recycling of e-scrap.

Segmentation

Recycler Type

·         Glass

·         Plastic

·         Metal

·         Printed Circuit Board

Material Recovery

·         Metal

·         Plastic

·         Glass

·         Other Metals

Application

·         Trashed

·         Recycled

Source Type

·         Household Appliances

·         Consumer Electronics

·         IT and Telecommunications

Product Type

·         IT

·         Office Equipment and Handheld devices

·         Major Home Appliances

·         Small Home Appliances

·         Ferrous metals

·         Non-Ferrous Metals

·         Precious Metals

·         Other Materials

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

E- Scrap Recycling Market Application Segmentation

On the basis of the application, the e-scrap recycling market is segmented into trashed and recycled.  Trashed include electronic devices that have reached the end of their life-cycle and are discarded or disposed of as waste. This segment involves electronic devices that are collected and processed for recycling purposes to recover valuable materials such as metals, plastics, and glass, reducing environmental impact. The recycling segment is expected to dominate the market during the forecast period.

E-Scrap Recycling Market Product Type Segmentation

On the basis of product type, the E-Scrap market is segmented into IT, Office Equipment and Handheld devices, Major Home Appliances, Small Home Appliances, Ferrous Metals, Non-Ferrous Metals, Precious Metals, and Other Materials. Electronics components includes recycling individual electronic components such as integrated circuits, resistors, capacitors, and connectors. Recycling of plastic components, or small home appliances such as casing, cover, and wiring insulation is also an important factor to drive the growth in the market. Recycling of various metals found in electronic devices, including Aluminum, Copper, Steel, and precious metals like gold, silver, and platinum. Recycling of glass components such as screens, lenses, and bulbs found in electronic devices. Miscellaneous products types such as batteries, LCD displays, and other specialized components require recycling processes.

Regional Outlook

On the basis of the regions, the e-scrap recycling market is segmented into North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. United States of America is the biggest market in the world due to increasing awareness among people regarding the recycling of products. The regional outlook for the e-scrap recycling market varies depending on factors such as government regulations, technological advancements, and consumer awareness.

Regions with stringent environment regulation, and high levels of e-waste regeneration, such as North America, Europe, and Asia Pacific, tend to have a significant growth in e scrap recycling market. Emerging economies in Asia Pacific region like China, and India are witnessing significant growth. Increasing urbanization, rapid industrialization, and increasing disposable income is driving growth in the market.

Increasing urbanization in Europe, and rising awareness among the people is driving the growth in the European countries like Germany, France, Italy, Spain, England, and Russia are driving the demand for E-scrap recycling market. United States of America, and Canada are observing significant growth in the market. Presence of global key players is the reason behind the growth in the market significantly. Countries in Middle East, and Latin America like Saudi Arabia, United Arab Emirates, Egypt, South Africa, Brazil, and Argentina is witnessing slow growth due to less aware people about the environment.

Key Players

·         Umicore N.V.

·         JX Nippon Mining and Metal Corporation

·         Dowa Holdings co. ltd.

·         ITRenew Inc

·         Electronics Recyclers Ltd.

·         Enviro Hub Holdings Ltd.

·         Stena Metall AB

·         Sims Metal Management

·         Aurubis AG

·         Boliden Group

·         Other Players