E-Scrap Recycling Market : Growths, Trends, and opportunities (2023-2029)

E-Scrap Recycling Market size was valued at US$ 17.81 Billion in 2022 and the market is expected to grow by 7.85% from 2023 to 2029, reaching nearly US$ 30.23 Billion.
E-Scrap Recycling Market Overview:
The term " E-Scrap " refers to recyclable electronic waste. Electronic waste also known as E-scrap is discarded electronic or electrical gadgets that can be disposed of at public curbs, landfills, or incinerators. Computer displays, motherboards, mobile phones and chargers, compact discs, headphones, television sets, air conditioners, and refrigerators are common items found in electronic waste. Silver, gold, palladium, platinum, indium, and gallium are some of the special and precious metals found in e-waste. These unique elements are widely used in consumer electronics, as well as in IT and communication systems. The prices associated with electronic devices are very high therefore the need to reuse, refurbish, and recycle E-Scrap is increased during the forecast period.To know about the Research Methodology :- Request Free Sample Report

In this report, the Hot Beverages market's growth reasons and the market's many segments (Product Type, Material, and Region) are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the E-Scrap Recycling market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the E-Scrap Recycling Market situation.
E-Scrap Recycling Market Dynamics:
The generation of E-Scrap is increasing owing to the rise in the use of electrical devices such as computers, TVs, mobile phones, refrigerators, tablets, washing machines, digital cameras, dryers, toasters, and kettles. This electronic item can be reused, resold, or discarded for recycling. This factor is expected to fuel the E-Scrap Recycling Market during the forecast period. One of the most significant benefits of electronic recycling is the reduction of environmental and health risks associated with e-scrap disposal in landfills. When e-scrap is disposed of in landfills, harmful compounds contaminate the water and soil which can create health problems. The growing awareness among electronic product users about the environmental issues faced by landfills is projected to drive the e-scrap recycling market in the upcoming years. Furthermore, E-Scrap recycling has gotten attention as a result of rising electronic waste or e-waste across the world.

Rising environmental concerns and the need to recover precious metals from e-waste are expected to benefit the e-scrap recycling market. Other key factors driving the market include strong government guidelines and regulations for managing e-waste and recycling programs around the world. Furthermore, rising disposable income and purchasing power of people result in spending on a variety of electronic consumer products. The market is predicted to grow due to the increasing acceptance of electronics recycling to refurbish functional components and high-value materials that may be reused in products.

The procurement and transportation of e-scrap from e-scrap generators is a major challenge for the e-scrap recycling market. Furthermore, manufacturers have raised questions about the requirement for advanced technology and the higher cost of maintaining e-scrap recycling devices, which is seen as a barrier to the electronic scrap recycling market.

Electronic waste generation from 2022 to 2029 (in million metric tons):

The below statistics shows the volume of e-waste generated worldwide in 2022. This was roughly 54.2 million metric tons. Many factors like increased spending power and the availability of electronic equipment have fueled e-waste generation in the last decades, making it the fastest growing waste stream at a global level. This trend is expected to continue, with projections showing that by 2022. The volume of e-waste generated worldwide in 2022 is 57.4 metric tons.
E-Scrap Recycling Market Segment Analysis:
By Product Type, the Home Appliances segment is expected to maintain its dominance In the coming years. Household appliances account for a significant share of the E-Scrap Recycling Market. In many countries, it is mandatory to take-back electronic products to manufacturers and importers for end-of-life management. Manufacturers are selling this electronic scrap for reuse or forward it to other companies for recycling. In Japan, under Home Appliances Recycling Law, appliances such as refrigerators, air conditioners, and washing machines have to forward back to retailers and they will send it to recycling companies. These rules are creating a beneficial environment for recycling e-waste.

By Material, the metal segment is expected to maintain its dominance during the forecast period. Electronic scrap is growing over the past decade owing to revolutionary changes in the electric and electronic sector. Incineration and recycling of E-scrap materials have gained high traction nowadays. Moreover, an increase in health hazards like kidney damage, bronchitis, and other diseases due to the discharge of toxic materials from incineration and scrap has increased the need for efficient scrap management techniques. These factors are expected to drive the growth of the segment in the global market of E-scrap recycling during the forecast period.
Regional Insights:
The Asia Pacific is expected to continue its position as the second-highest area in terms of recycling volume after Europe, With an estimated output of 5,200 thousand metric tonnes in the e-scrap recycling market by 2029. There is an increasing demand for well-designed and well-regulated e-scrap recycling rules in India because the country is highly deficient in terms of precious metals. Companies in the electronic scrap recycling market have an incremental opportunity in India to gain profits because labor cost is relatively cheaper as compared to other developed countries.

Europe is expected to account for the largest share of the E-scrap recycling market and will maintain its leading position owing to the rapid growth and implementation of e-waste recycling solutions in various industry verticals.

The objective of the report is to present a comprehensive analysis of the E-Scrap Recycling Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the E-Scrap Recycling Market dynamics, and structure by analyzing the market segments and projecting the E-Scrap Recycling Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the E-Scrap Recycling Market make the report investor’s guide.
E-Scrap Recycling Market Scope: Inquiry Before Buying



E-Scrap Recycling Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 17.81 Bn.


Forecast Period 2023 to 2029 CAGR:
7.85%
Market Size in 2029:
US $ 30.23 Bn.


 Segments Covered:
by Product Type
IT, Office Equipment and Handheld Devices
Major Home Appliances
Small Home Appliances
Others


by Material
 Metal
Ferrous Metals
Non-ferrous Metals
Precious Metals
Others (Plastics + Other)



By Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
E-Scrap Recycling Market Key Players are:
1. Electric Electronic Processing Inc.
2. Ecoreco Ltd.
3. Enviro-Hub Holdings Ltd.
4. Electronic Recyclers International
5. ITRenew, Inc.
6. STENA METALL AB
7. Sims Metal Management
8. DOWA HOLDINGS Co., Ltd
9. Metal Corporation
10. Umicore N.V.
11. JX Nippon Mining and Metal Corporation
12. Desco Electronic Recyclers
13. Electronic Waste Management
14. E-waste Harvesters, Inc.
15. E-waste Systems, Inc.
16. MRI (Australia) Pty Ltd.
17. Tetronics (International) Limited
18. Umicore S.A.
19. Waste Management, Inc

FAQs:

1. What is the key driver of the E-Scrap Recycling Market?
Ans. The growing awareness among electronic product users about the environmental issues faced by landfills is projected to drive the e-scrap recycling market in the upcoming years.

2. What is the restraint in the E-Scrap Recycling Market during the forecast period?
Ans. Manufacturers have raised questions about the requirement for advanced technology and the higher cost of maintaining e-scrap recycling devices, which is seen as a barrier to the electronic scrap recycling market.

3. What is the projected market size & growth rate of the E-Scrap Recycling Market?
Ans. The E-Scrap Recycling Market size was valued at US$ 17.81 Billion in 2022 and the total Global E-Scrap Recycling revenue is expected to grow by 7.85% from 2023 to 2029, reaching nearly US$ 30.23 Billion.

4. What segments are covered in the E-Scrap Recycling Market report?
Ans. The segments covered are Product Type, Material, and Region.