E-Scrap Recycling Market to Reach a Valuation of US$ 26 Bn By 2027 – TMR Study
Transparency Market Research delivers key insights on the global e-scrap (electronic scrap) recycling market. In terms of revenue, the global e-scrap recycling market is estimated to expand at a CAGR of ~7% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the global e-scrap recycling market report.
In this market report, TMR predicts that, the increased use of electronic products such as laptops, computers, mobile phones, television sets, and other electrical and electronic household appliances is anticipated to drive the e-scrap recycling market. Additionally, the recycling of e-scrap for the recovery of various metals is important from the point of saving energy. Moreover, the recycling of e-scrap would also help in reducing the burden on mining ores for primary metals. This, in turn, is anticipated to boost the electronic scrap recycling market. However, the high initial investment associated with the collection and recycling process of e-scrap recycling is anticipated to restrain the growth of the global electronic scrap recycling market. The need for advanced technology and additional cost for the maintenance of e-scrap recycling devices is also a concern raised by manufacturers, which is considered to be a drawback for the industry. This also restrains the growth of the global e-scrap recycling market.
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Most e-waste is expected to be generated in urban areas, and it is particularly important to properly manage this e-waste properly, improve collection and recycling rates, and reduce the amount of e-waste that ends up in dumpsites. The move toward smart cities and the use of information & communication technology for waste management offers new and exciting opportunities. In addition, the untapped areas of the Middle East & Africa and South America also provide opportunities for new players to enter the electronic scrap recycling business.
Valuable materials have become a major source of income for buyers. This has resulted in the tracking of trans-boundary movement of e-scrap. The rising demand for smart consumer electronic devices is another key trend in the growth of the e-scrap recycling market. Electronic and electrical equipment with advanced technology have limited service life. This has simultaneously increased the supply of electronic and electrical equipment, resulting in growth of the e-scrap recycling market. Rise in the awareness among electric and electronic product users about environmental issues faced by landfills is expected to drive the e-scrap recycling market in the coming years. Avoiding the usage of landfills minimizes their propensity to cause health and environmental hazards. E-scrap contains a substantial amount of toxic and non-biodegradable substances such as lead, mercury, cadmium, arsenic, and antimony. It also contains precious metal such as gold, silver, palladium, tantalum, and gallium. This has resulted in recovering or the reuse of precious metals, thereby resulting in overall growth of the electronic scrap recycling market.
E-Scrap Recycling Market: Key Segments
According to the report, large white goods such as refrigerators & freezers, washing machines, and dishwashers dominated the electronic scrap recycling market in 2018. The increasing use of refrigerators and freezers, washing machines, dishwashers, and many other consumer electronic goods has resulted in increased recycling of large white goods. Moreover, stringent regulatory framework regarding the recycling of electronic waste across the globe has resulted in the growth in the recycling of large white goods. Large white goods are closely followed by small household appliances such as toasters, coffee makers, and hair dryers, owing to their increased usage around the world. IT products such as computers and laptops, telephones, and mobile phones, as well as printers and scanners, have also acquired a substantial market share in e-scrap recycling.
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In terms of processed material, metals is a dominant segment, and the segment is anticipated to expand during the forecast period, owing to the rising demand for metals in the overall electric and electronic products manufacturing sector. Plastic, on the other hand, is gradually gaining market share, owing to its extensive application in consumer electronic products. A wide range of plastic resins such as acrylonitrile butadiene styrene (ABS), high impact polystyrene (HIPS), and expanded polystyrene (EPS) is widely used in various consumer electronic products. Plastic recycling is anticipated to increase considerably in the next couple of years due to its increasing usage.
E-Scrap Recycling Market: Prominent Regions
Europe dominated the global e-scrap recycling market, followed by Asia Pacific. The dominance of Asia Pacific can be attributed to the presence of a strong scrap recycling and electronic and electrical product industry. China and India are the major recyclers of electric and electronic products, thus driving the Asia Pacific electronic scrap recycling market. Key e-scrap recycling players such as JX Nippon Mining and Metal Corporation, DOWA Holdings Co., Ltd., Enviro-Hub Holdings Ltd., Ecoreco Ltd. and Sims Metal Management are present in the region.
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