According to Transparency Market Research Inc., the global e-scrap recycling market is projected to flourish at a CAGR of 7.6 percent from 2021 to 2031. As per a report published by TMR, a valuation of $7.3 billion is anticipated for the market in 2031. As of 2023, the market for e-scrap recycling is expected to close at $ 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.
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 $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 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. The United States, in particular, has a mature e-scrap recycling ecosystem.
