Electronics Recycling Market

The global market value of the electronics recycling market was estimated to be USD 34.9 billion in 2023 and is projected to grow at a CAGR of 13.4% during the forecast period. The rapid increase in electronic device consumption and obsolescence is leading to a surge in e-waste, which is a major driver in the market growth. Stringent regulations and initiatives regarding e-waste management are driving growth in the market.

Innovations in recycling technology are improving efficiencies and enabling the recovery of more valuable materials. The rapid growth in production of consumer electronics is driving the demand in the market significantly. Increasing demand for laptops and other portable electronic devices is driving growth in the market.

Growth Drivers

With the advancements of technology, the demand for computer gadgets and electronics goods has increased significantly, and the volume of discarded materials in the future is expected to grow significantly. Governments worldwide are implementing stricter e-waste management regulations to curb electronic waste pollution. Banding of landfill disposal of e-waste in many regions pushes businesses and consumers towards recycling.

Growing consumer demand for smartphones and electronic appliances contributes to more e-waste. Recycling provides access to valuable materials like gold, silver, copper, palladium, and rare earth metals, reducing dependence on virgin resources. The rise of urban mining is making recycling a lucrative industry. Growing environmental consciousness among consumers is increasing demand for eco-friendly disposal solutions. The circular economy movement is driving businesses to integrate sustainable practices.

Recycling not only helps environment cleanliness but also provides job opportunities. Further, cost fluctuations for raw materials such as steel, tin, nickel, aluminum, copper, zinc, gold, silver, and plastic resins are typically expected to show up in the electronic recycling market, which further puts pressure on purchasing budgets. Moreover, reusing recycled components in new products makes them efficient and economical.

Segmentation

Material

·         Metals and chemicals

·         Plastic

·         Glass

Source

·         Household appliances

·         Entertainment and consumer electronics

·         IT and telecom

·         Medical equipment

·         Others

Method

·         Mechanical recycling

·         Pyrolysis

·         Landfill disposal

·         Bioleaching

By Region

·         Asia-Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

The Electronics Recycling Market by Source Segmentation

On the basis of the source, the electronics recycling market is segmented into household appliances, entertainment and consumer electronics, IT and telecom, medical equipment, and others. The IT and telecommunications segment held the largest share of 37.6%. This category includes equipment such as desktops, workstations, servers, networking devices, and automation systems. The substantial value is attributed to the frequent upgrading of equipment to meet higher computational demands, leading to increased e-waste generation from this sector.

Consumer electronics, such as smartphones, laptops, tablets, and gaming consoles, have short upgrade cycles, leading to frequent disposal. Companies frequently release newer models with improved features, prompting consumers to discard old devices.

Continuous innovation in technology encourages consumers to replace gadgets regularly. The high value of recoverable materials, government regulations, and e-waste management initiatives are driving growth in the market. Rising electronic waste generation and increasing awareness and circular economy practices are driving growth in the market. Rapid technological advancements, planned obsolescence, and consumer demand for upgrades.

Regional Outlook

On the basis of the regions, the electronics recycling market is segmented into 5 regions: Asia-Pacific, North America, Latin America, the Middle East and Africa, and Europe. Europe is the leading region in electronics recycling and is expected to dominate the market during the forecast period due to advanced recycling infrastructure. Europe has well-established recycling facilities and technologies, making it a leader in sustainable e-waste management. European consumers are more environmentally conscious, and governments provide incentives for proper disposal and recycling of electronics. Europe has one of the highest e-waste collection and recycling rates globally.

The Asia-Pacific region is witnessing significant growth due to increasing electronic consumption, rising e-waste generation, and improving regulations in countries like China, Japan, and India. North America also has a significant market share, driven by the U.S. and Canada, but lacks the same level of stringent regulations as Europe. North America also has a significant market share, driven by the U.S. and Canada, but lacks the same level of stringent regulations as Europe.

Increasing urbanization and industrialization are driving the demand in the market. The Asia-Pacific region produces the highest volume of electronic waste, driven by massive consumption of electronics in countries like China, India, and Japan. China, Japan, and South Korea have developed and advanced recycling infrastructure, while countries like India and Malaysia are rapidly expanding their capabilities. The increasing adoption of smartphones, electronics, and computers has led to a surge in e-waste, boosting the need for recycling solutions. Digitalization and increasing urbanization are driving the growth in the Asia-Pacific region significantly. Due to the large informal recycling sector, especially in countries like India and Indonesia, which contributes significantly to overall recycling efforts despite environmental concerns.

North America, comprising the United States, Canada, and Mexico, is one of the largest producers of electronic waste globally due to high per-capita consumption of electronic devices like smartphones, laptops, and household appliances. The region generated approximately 13.1 million metric tons of e-waste in 2022, with the United States being the dominant contributor. This volume is expected to grow as technological advancements shorten device lifecycles and consumer demand for new electronics persists.

Cost fluctuation of raw materials like tin, gold, and platinum is driving growth in the market significantly. There’s no federal mandate for e-waste recycling, leading to a patchwork of state-level laws. Twenty-five states have e-waste recycling regulations, with some, like California and Colorado, banning electronics from landfills. Programs often rely on producer responsibility models, were manufacturers fund recycling efforts.

The Middle East and Africa and Latin America are witnessing moderate growth during the forecast period due to the advancement in technology.

Key Players

·         Boliden Group

·         ALBA Group plc. And Company KG

·         CIMELIA RESOURCE RECOVERY PTE LTD.

·         E Parisaraa Pvt. Ltd.

·         Egyptian Electronics Recycling Co.

·         Electrocycling GmbH

·         Electronic Recyclers International Inc.

·         Global Ewaste Solutions

·         Good Point Recycling

·         Kuusakoski Oy

·         MBA Polymers Inc.

·         Sembcorp Industries Ltd.

·         Sims Ltd.

·         Stena Metall Group

·         TES Singapore Pte Ltd.

·         Tetronics

·         Umicore SA

·         Veolia

·         Waste Management Inc.

·         Other Players