E-Waste Recycling and Reuse Services Market: Global Outlook of Industry and Forecast (2023-2029) by Material, Source, and Region.

E-Waste Recycling and Reuse Services Market size was valued at US$ 30.20 Bn. in 2029. E-Waste Recycling and Reuse Services will encourage a great deal of transformation in the IT and Electronic Industry.
E-Waste Recycling and Reuse Services Market Overview:
Electronic garbage, often known as E-waste or waste electrical and electronic equipment is used electrical and electronic equipment that has been abandoned. Consumer electrical devices such as computer monitors, computer equipment, cell phones, and stereos are among the most common e-waste sources. The most ewaste is generated by items with a significant number of electrical components. Years of research and development, several product generations, and the desire of consumers to upgrade provides an endless supply of this type of garbage.To know about the Research Methodology :- Request Free Sample Report

Though market forecasting through 2027 is based on real output, demand, and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all-important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lockdown on the market in 2020 and 2021.
E-Waste Recycling and Reuse Services Market Dynamics:
Electronic equipment, by their very nature, become outmoded or require repair from time to time. This is a key contributor to e-waste production. Replacing an electronic gadget is less expensive than having it fixed. As a result, there has been an increase in the tendency to buy new products rather than fix old ones. This higher rate of obsolescence is currently resulting in a large amount of e-waste generation. This leads to waste being reused, refurbished, and recycled, necessitating the establishment of a large network of collecting zones. With strong legal frameworks and activities from electronic device producers, there should be greater options for managing outmoded products in growing countries.

The information society has exploded over the world in recent years. Growth has occurred at a breakneck pace, fueled by significant technology developments that are driving both social and economic progress. This has resulted in an overabundance of ICT gadget ownership per person around the world. Moreover, due to rapid technical improvements, the replacement cycles of various electronic equipment have shrunk significantly.

The United Nations has dubbed the rising e garbage a 'tsunami of e-waste,' because it is the "fastest-growing waste stream in the world," with 51 million tonnes generated in 2019. In 2018, an estimated 50 million tonnes of e-waste was reported around the world, costing $62.5 billion and expected to grow in both value and volume annually.

The United States is the world leader in electronic trash generation, with 3 million tonnes produced each year, while China comes in second with 2.3 million tonnes. Despite its restriction on e-waste imports, China remains a key e-waste dumping ground for industrialized countries.

Also, with a significant increase in disposable income and an ever-improving level of life, an unprecedented amount of money has been spent on electrical and electronic gadgets. All of these elements are to blame for the rising amount of e-waste. As a result, the growth of the e-waste recycling and reuse services market has been assisted. With the rise in e-waste, there have been various instances of incorrect e-waste disposal and treatment, such as incineration or landfilling. The improper disposal of e-waste poses a serious threat to human health. As a result, there is a growing necessity for proper collection and disposal strategies for e-waste recycling. Naturally, it has supported the growth of the market for e-waste recycling and reuse services.

78% of the 53.5 MMT of E-waste produced in 2020 will go uncollected and unreported, raising concerns about human and environmental safety. Development and availability of low-cost items, combined with shorter product lifecycles, are factors leading to rising E-waste volumes, in addition to variables such as increased standard of living, rise in disposable income, urbanization, and industrialization. As we move towards a new era of digitalization and IoT, with the growing reliance on electronic devices and communication, stakeholders across the value chain should prioritize resource reuse and recovery, as well as environmental protection. These factors are driving the demand for services in the market.

Recent Development:

• Hulladek Recycling, a Kolkata-based e-waste management company, and Green Partner, an Agartala-based e-waste management company, announced their collaboration for e-waste management services in Tripura in August 2020. The alliance intends to provide effective e-waste management solutions in the state as well as North-East India.

• Cerebra Green, Cerebra Integrated Technologies Ltd.'s e-waste division, boosted its recycling and refurbishment capacity from 20,000 to 40,000 metric tonnes in October 2021.

• In April 2021, Eco Recycling Ltd (Ecoreco), India's first and largest professional E-Waste Management Company, introduced "Book My Junk," a free mobile phone app for home pickup.
E-Waste Recycling and Reuse Services Market Segmentation:
By Material, metals and chemicals dominated the market with a 38.7 % share in 2021. Due to the rise of electronic garbage over the last decade as a result of revolutionary changes in the electric and electronic industries, the burning and recycling of these materials have gained popularity. Moreover, as a result of the limited release of toxic elements from incineration and scrap, health risks such as kidney damage, bronchitis, and other diseases have increased, there is a greater need for efficient scrap management strategies.



By Source, Consumer electronics dominated the market with a 40% share in 2021. These account for a significant portion of global e-waste. As a result, comprehensive strategies to handle the massive amount of e-waste are required. Manufacturers and importers are required in certain countries to collect electronic products for end-of-life management. Electronic scrap can be sold for reuse or forwarded to other companies for recycling. Consumers of appliances such as refrigerators, air conditioners, and washing machines in Japan, for example, must convey them to shops that will send them to companies under the Home Appliances Recycling Law. These policies are helping to create a favorable climate for e-waste recycling.
E-Waste Recycling and Reuse Services Market Regional Insights:
The Asia Pacific region dominated the market with a 34 % share in 2021. Due to a variety of factors, including new product advancements as a result of ongoing innovation and a steady drop in electronic device prices. This has had a significant impact on the real-life span of electronic items like computers and cellphones. Also, as per capita wealth in many nations in this region rises, more people are upgrading to newer versions of products. In the previous decade, these factors have contributed to an increase in sales of electronic equipment such as cellphones, refrigerators, and laptops, resulting in an increase in e-waste in the region.

Europe is expected to grow at a CAGR of 5.29 % through the forecast period. This is due to the increasing use of electronic waste recycling software, solutions, platforms, and systems in industries such as security, marketing, automotive, healthcare, IT & telecommunications, retail, agriculture, and manufacturing. In addition, the growing use of electronic waste recycling technology for image and speech recognition, as well as data mining, is fueling market growth in this region.

The objective of the report is to present a comprehensive analysis of the E-Waste Recycling and Reuse Services 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-Waste Recycling and Reuse Services market dynamics, structure by analyzing the market segments and project the E-Waste Recycling and Reuse Services 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-Waste Recycling and Reuse Services market make the report investor’s guide.
E-Waste Recycling and Reuse Services Market Scope: Inquiry Before Buying



Global Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 18.56 Bn.


Forecast Period 2023 to 2029 CAGR:
2.5%
Market Size in 2029:
US $ 30.20Bn.


 Segments Covered:
by Material
• Metals and chemicals
• Plastics
• Glass
• Others


by Source
• Consumer electronics
• Industrial electronics



E-Waste Recycling and Reuse Services Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
E-Waste Recycling and Reuse Services Market, by Region
• North America
• Europe
• Asia Pacific
• MEA
• Latin America
E-Waste Recycling and Reuse Services Market Key Players
• Electronic Recyclers International Inc.
• Lifespan Technology Recycling Inc.
• Stena Techno World
• Desco Electronic Recyclers
• Umicore S.A.
• CRT Recycling Inc.
• Tectonics Ltd.
• Cimelia Resource Recovery
• MBA Polymers Inc.
• SIMS Recycling Ltd.
• Global Electric Electronic Processing Inc.
• Aurubis AG
• Boliden AB
• Enviro-Hb Holdings Ltd.
• Umicore S.A.
• Waste Management Inc.

Frequently Asked Questions:

1. Which region has the largest share in Global E-Waste Recycling and Reuse Services Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global E-Waste Recycling and Reuse Services Market?
Ans: The Global E-Waste Recycling and Reuse Services Market is growing at a CAGR of 2.5% during forecasting period 2023-2029.

3. What is scope of the Global E-Waste Recycling and Reuse Services Market report?
Ans: Global E-Waste Recycling and Reuse Services Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global E-Waste Recycling and Reuse Services Market?
Ans: The important key players in the Global Electronic Recyclers International Inc., Lifespan Technology Recycling Inc., Stena Techno World, Desco Electronic Recyclers, Umicore S.A., CRT Recycling Inc., Tectonics Ltd., Cimelia Resource Recovery, MBA Polymers Inc., SIMS Recycling Ltd., Global Electric Electronic Processing Inc., Aurubis AG, Boliden AB, Enviro-Hb Holdings Ltd., Umicore S.A., and Waste Management Inc.

5. What is the study period of this Market?
Ans: The Global E-Waste Recycling and Reuse Services Market is studied from 2022 to 2029.