This report shows that the market for e-scrap recycling is expected to reach US$ 8,199.04 millions by 2028. It also indicates a 14.3% CAGR from 2021-2028.
It is essential to dispose of electronics and other appliances quickly because of their widespread use in the consumer electronics industry. The e-scrap market is driven by strict rules for safe disposal and proper recycling. The United Nations estimates that the world’s e-waste volume increased by 21% between 2004 and 2019. The world disposed of 53.6 million metric tons of e-waste in 2019, of which 17.4% was recycled. This is driving the growth of the e-scrap recycle market.
E-waste can contain precious metals like silver, gold palladium platinum, indium and gallium. These rare elements are used regularly in the manufacture of consumer gadgets and IT and communication systems. These rare metals have high prices due to their rarity. This increases the demand for metal-based products that can be reused or reconditioned.
E-waste can be harmful to the environment if it is not properly disposed of. Lead, for example, is a neurotoxin that can be found in old television sets and CRT monitors weighing between 4-8 lbs. It can leach into the soil, rendering it infertile, if not properly disposed of and recycled. A large amount of e-waste is also transported every year from developed countries to developing countries. The EPA estimates that China shipped 3.75-10.72 Million MT of e waste in 2019. Due to the disposal of hazardous chemicals such as lead, the transportation of e-waste can have a negative impact on the environment and the people involved in its transport. This is why e-scrap recycling market growth is important.
The United Nations Economic and Social Commission for Asia and the Pacific, (ESCAP) estimates that APAC contributed 46.46% of the global e–waste generation in 2019, which amounted to 24.9 million metric tons. China, along with producing such a large amount of e waste, also imports e-waste from the US and other developed countries. Rapid government initiatives to reduce the environmental impact of e waste are driving the growth of the regional e-scrap market. The Singapore government has installed over 300 e-waste recycling containers in different locations across the country, including shopping centers, town centers, and supermarkets. This was done starting July 2021. The regulatory body plans to collect the waste quarterly and offer home pick-up for large appliances. These initiatives will increase demand for e waste recycling and provide lucrative opportunities to e-scrape market players in the region.
Segmentation of the e-scrap market can be done based on product type, processed material, or geography. The e-scrap market can be divided by product type into IT & telecommunication equipment, small appliances, large white goods and consumer electronics. Segmentation of the e-scrap market by processed material is metal, glass and plastic.
Why to Buy
- You can save time and cut down on the time it takes to do entry-level research by identifying growth, size, top players and segments in the global electronic scrap recycling market.
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- These key findings and recommendations highlight important industry trends in the global market for e-scrap recycle. This allows players from all levels of the value chain to create long-term strategies.
- Plan for business expansion using significant growth opportunities in emerging and developed markets
- Examine global market trends and outlook in detail, along with the factors that are driving and hindering the market
- Understanding the commercial strategies that support client products, segmentation and pricing will enhance the decision-making process.
This post was written by Steven Elia Co-Founder and Recycling Director at eCycle Florida. eCycle Florida is a R2 Certified electronics recycling company in the state of Florida. Our processes and procedures are dedicated to the proper destruction and recycling of your electronics. eCycle Florida is your go-to for Orlando electronics recycling.