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DELRAY BEACH, Fla. , Nov. 5, 2024 /PRNewswire/ -- The report "Electronic Waste Recycling Market by Source (Household Appliances, Consumer Electronics, IT & Telecommunication, Mobile Computing Devices), Materials (Glass, Metal, Plastics), Technology, and Region - Global Forecast to 2029", size is expected to reach USD 66.33 billion in 2029 from USD 48.41 billion in 2024, at a CAGR of 6.5% from 2024 to 2029.
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201 – Tables
52 – Figures
260 – Pages
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The demand for electronic waste recycling is driven by rising advancement in electronics technologies, growing investments, government initiatives and increasing focus towards sustainability. Electronic waste recycling include collecting, sorting, shredding and recovery of materials from older scrapped electronic devices. These recycled materials are then distributed to numerous industries through various delivery systems. Electronic waste market considered here includes only the formalized recycling market established worldwide, with proper data management and accounting. The formal electronic waste market accounts for about 20 – 25% of total e-waste that is generated globally every year. The rest of the e-waste generated ends up in informal recycling market and landfill. The data related to recycling in informal market is unavailable as there is no proper record for the volume of material recycled or where is it used in further processing; how much value is extracted out of this recycling. These informal recycling is more prevalent in under-developed economies where the local vendors try to refurb and recycle the older electronic hardware that is not following best industrial practices. We have covered the formalized market alone in this report.
Metals segment is expected to grow with highest CAGR in Electronic Waste Recycling Market during the forecasted period.
The Electronic Waste Recycling Market is segmented based on the material into Metals, Glass, Plastics and other materials. Metals are the high value materials that the electronic recyclers are heavily dependent to recover their operating cost and achieve profitability. Although high value metals are present in a very less volume, owing to their demand in the market these recyclers are able to make huge returns on these material segment. Common metals that are recycled and recovered from electronic waste includes aluminum, copper, lithium, gold, silver, palladium, tin nickel and lead. Of these materials, gold, lead, palladium generate the higher value, even with overall volume of these metals remain very low. Recyclers are constantly looking for electronic components that contains these mentioned materials to recover and resell them to achieve profitability. With ongoing price trend of these materials, companies are actively looking to increase their processing capacity of these materials above other materials such as glass, plastics and others.
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IT & Telecommunication is expected to grow with highest CAGR in Electronic Waste Recycling Market during the forecasted period.
The Electronic Waste Recycling Market is segmented based on source into Household Appliances, Consumer Electronics, IT & Telecommunications, Mobile Computing Devices, and other sources. IT & Telecommunication segment is the largest point source of electronic scrap for the recyclers in the formalized recycling market. These companies are also bound by regulatory compliances to responsibly dispose of their older devices. With rising requirement for computational power with emerging technologies, the generation of electronic scrap is expected to increase, which in turn increases the responsibility of the companies to responsibly dispose these devices through recycling of these devices through partnerships with recycling companies.
Lithium Battery Recycling technology segment is expected to have largest share during forecasting period in terms of value.
Lithium battery recycling is a complex process which involves usage of all the technologies combined so as to remove very few materials of choice, resulting in higher unit cost of recovery of such materials. Although the volume recovered is less, due to the market demand for these materials, the value of such recovered materials is very high in the market. The recovered materials from recycling of batteries are lithium and cadmium which are in high demand, due to the rise in sales and demand for Electric Vehicles (EV) across the globe. This trend is expected to continue and this segment holding the largest market share for the electronic waste recycling market.
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Asia Pacific region is expected to registered highest CAGR both in terms of value and volume during forecasted period.
The Electronic Waste Recycling Market has been studied in North America, Europe, Asia Pacific, South America and Middle East and Africa.
The Asia Pacific Electronic Waste Recycling Market is experiencing explosive growth, due to strong demand of recycled materials in various end-use industries. Advancements in technologies, rapid urbanization, growing investments, and government initiatives is driving the demand for electronics in this region. Countries like China, Japan, and India are witnessing significant growth in electronics industry due to increasing consumption of consumer electronics, and presence of large number of electronics manufacturers that are using high purity gases in electronic devices. Various government initiatives have been taken to transform the electronics industry and promote semiconductor production by focusing on innovation and high-tech manufacturing process.
Key players
Prominent companies include Dell Inc. (US), Umicore SA (Belgium), Quantum Lifecycle Partners (Canada), Enviro-Hub Holdings Ltd. (Singapore), Kuusakoski Oy (Finland), Stena Metall AB (Sweden), Call2Recycle Inc., (US), Aurubis AG (Germany), E-Parisara Pvt. Ltd. (India), ERI (US), Boliden Group (Sweden), Attero Recycling Pvt. Ltd. (India), Veolia (France), SIMS Ltd. (Australia) and among others.
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