E-scrap Recycling Market Research Report 2023
E-scrap Recycling Market Size By Product Type (IT and Telecommunications Equipment, Large White Goods, Small Household Appliances, Others) Process (Pre-Processing & Sorting, Dismantling & Component Recovery, Shredding & Size Reduction, Others) Processed Materials (Plastic, Metal, Glass, Others) and Region Global Market Analysis and Forecast, 2023-2030
E-scrap Recycling Market Synopsis
The Global E-scrap Recycling Market size is expected to grow from USD 8,710.00 Million in 2023 to USD 19,618.00 Million by 2030, at a CAGR of 12.30% during the forecast period (2023-2030).
Electronic waste, also known as e-waste or waste electrical and electronic equipment (WEEE), refers to discarded electrical or electronic devices. It includes used electronics that are intended for refurbishment, reuse, resale, recycling through material recovery, or proper disposal. The improper handling and processing of e-waste in developing countries can have detrimental effects on human health and cause environmental pollution.
- The global issue of e-waste has been exacerbated by the increased consumption of electronic goods during the digital revolution and advancements in science and technology, such as the rise of Bitcoin.
- Factors contributing to the exponential growth of e-waste include frequent releases of new models, unnecessary purchases of electrical and electronic equipment (EEE), short innovation cycles, low recycling rates, and a decrease in the average lifespan of computers. Hazardous substances like lead, cadmium, beryllium, and brominated flame retardants can be found within electronic scrap components, posing potential risks to the health of workers and their communities involved in recycling and disposal processes.
- The proliferation of electronic devices and the increasing accessibility of technology have led to a surge in e-waste generation worldwide. The constant release of new and upgraded electronic models encourages consumers to replace their existing devices, significantly accumulating outdated equipment.
- The fast-paced nature of technological advancements, combined with aggressive marketing strategies and planned obsolescence, contributes to the shortened lifespan of electronic products. This shortened lifespan and the high demand for the latest gadgets further fuel the e-waste problem.
Top Key Players Involved Are:
"JX Nippon Mining and Metal Corporation (Japan), Umicore N.V. (Belgium), Dowa Holdings Co. Ltd (Japan), Sims Metal Management (Australia), Stena Metall AB (Sweden), ITRenew Inc. (US), Electronic Recyclers International (US), Enviro-Hub Holdings Ltd. (Singapore), Ecoreco Ltd. (Taiwan), Global Electric Electronic Processing Inc (US), Waste Management Inc. (US), Aurubis AG (Germany), MBA Polymers Inc. (US), Stadler Anlagenbau GmbH (Germany), MRI (Metech Recycling) (United Kingdom), Ecomation (Finland), CRT Recycling Inc. (US), Cohen Electronics Recycling (US), E-Parisaraa Pvt. Ltd. (India), Lifespan International Inc. (US), and Other Major Players."
E-scrap Recycling Market Trend Analysis
Increasing E-waste Generation
- The increasing generation of electronic waste, also known as e-waste, is a significant driver for e-scrap recycling. E-waste refers to discarded electronic devices such as computers, smartphones, televisions, and other electronic equipment. As technology continues to advance and the demand for electronic devices grows, the volume of e-waste generated globally is also increasing at a rapid pace.
- E-waste contains various hazardous materials such as lead, mercury, cadmium, and brominated flame retardants. When improperly disposed of, these toxic substances can leach into the soil and water, polluting the environment and posing risks to human health. E-scrap recycling helps to prevent these hazardous materials from ending up in landfills or being incinerated, reducing the potential environmental impact.
- Electronic devices consist of valuable resources like precious metals (gold, silver, palladium), copper, and rare earth elements. By recycling e-scrap, these resources can be recovered and reused in the production of new electronic devices. This reduces the reliance on extracting virgin materials from the earth, conserves natural resources, and decreases the energy consumption associated with mining and manufacturing processes.
- E-scrap recycling plays a crucial role in promoting a circular economy. Instead of following a linear model of "take-make-dispose," recycling e-waste enables the recovery of valuable materials and their reintroduction into the production cycle.
Growing Demand for Recycled Materials
- The growing demand for recycled materials presents a significant opportunity for the e-scrap recycling industry. As awareness of environmental sustainability increases, businesses, and consumers are increasingly seeking products and materials with reduced environmental footprints.
- Many natural resources used in electronics manufacturing are becoming increasingly scarce and expensive. E-scrap recycling provides an opportunity to recover valuable materials from discarded electronic devices, such as precious metals, rare earth elements, and various metals. By recycling these materials, e-scrap recycling companies can contribute to resource conservation and provide a more cost-effective alternative to mining and extracting virgin resources.
- The recycling of e-scrap helps diversify the supply chain for critical materials. By recycling and reintroducing these materials into the production cycle, the dependence on limited primary sources can be reduced. This enhances supply chain stability and resilience, especially for materials that are subject to geopolitical or market fluctuations.
- The demand for recycled materials is growing across various industries, including electronics, automotive, construction, and more. Manufacturers are increasingly incorporating recycled materials into their products to meet sustainability goals, comply with regulations, and cater to environmentally conscious consumers.
Source: Statista
In the above-mentioned graph, the volume of electronic waste generated worldwide in 2020 was roughly 55.5 million metric tons. Several factors such as increased spending power and the availability of electronics have fueled e-waste generation in recent decades, making it the fastest-growing waste stream worldwide.
Segmentation Analysis of E-scrap Recycling
The E-scrap Recycling Market segment covers the Product Type, Process, Processed Material. The Product Type, IT and Telecommunications Equipment segments are Anticipated to Dominate the Market Over the Forecast period.
- The IT and telecommunications sectors are characterized by constant innovation and rapid technological advancements. As a result, electronic devices in these industries become obsolete at a relatively faster pace compared to other sectors.
- This leads to a higher turnover of electronic equipment and a greater volume of e-waste generated within the IT and telecommunications sector, creating a significant need for recycling services.
- The IT and telecommunications sectors have high rates of device consumption and replacement. This is driven by factors such as shorter product life cycles, consumer demand for the latest technologies, and frequent upgrades in both personal and business settings.
- As consumers and businesses upgrade their devices, the older equipment becomes obsolete and is often discarded, the rapid pace of technological advancements, high consumption, and replacement rates, increasing use of mobile devices, data security concerns, regulatory compliance requirements, and material recovery opportunities collectively contribute to the prominence of this segment within the e-scrap recycling industry.
Regional Analysis of E-scrap Recycling
Europe is Expected to Dominate the Market over the Forecast Period.
- Europe has implemented comprehensive and stringent regulations regarding e-waste management and recycling. The Waste Electrical and Electronic Equipment (WEEE) Directive, introduced by the European Union (EU), establishes targets and requirements for the collection, recycling, and treatment of e-waste.
- This regulatory framework has created a robust infrastructure for e-scrap recycling in Europe, encouraging the proper management of electronic waste and driving the growth of the market. Europe has been at the forefront of promoting a circular economy, which emphasizes resource efficiency, waste reduction, and the recycling of materials.
- E-scrap recycling is a key component of the circular economy approach, as it enables the recovery and reuse of valuable materials from electronic devices. European countries have embraced circular economy principles and have set ambitious targets for recycling rates and the reduction of waste.
Covid 19 Impact Analysis on E-scrap Recycling
- The pandemic has disrupted global supply chains, including the collection and transportation of e-waste. Restrictions on movement, lockdown measures, and reduced business activities have hindered the collection and processing of e-scrap. With fewer people able to drop off their electronic devices for recycling and limited access to recycling facilities, the overall volume of e-waste collected and processed may have been affected.
- During the pandemic, there have been changes in consumer behavior and consumption patterns. With remote work and increased reliance on digital communication, there has been a surge in demand for laptops, tablets, and other electronic devices. This could potentially lead to a higher volume of e-waste generated in the long run as these devices become obsolete or are replaced.
- In some regions, recycling facilities and operations were temporarily shut down or faced reduced capacity due to government-imposed restrictions. This could have disrupted the recycling processes and delayed the processing of e-scrap.
Top Key Players Covered in the E-scrap Recycling
- JX Nippon Mining and Metal Corporation (Japan)
- Umicore N.V. (Belgium)
- Dowa Holdings Co. Ltd (Japan)
- Sims Metal Management (Australia)
- Stena Metall AB (Sweden)
- ITRenew Inc. (US)
- Electronic Recyclers International (US)
- Enviro-Hub Holdings Ltd. (Singapore)
- Ecoreco Ltd. (Taiwan)
- Global Electric Electronic Processing Inc (US)
- Waste Management Inc. (US)
- Arabic AG (Germany)
- MBA Polymers Inc. (US)
- Stadler Anlagenbau GmbH (Germany)
- MRI (Metech Recycling) (United Kingdom)
- Ecomation (Finland)
- CRT Recycling Inc. (US)
- Cohen Electronics Recycling (US)
- E-Parisaraa Pvt. Ltd. (India)
- Lifespan International Inc. (US), and Other Major Players
Key Industry Development in the E-scrap Recycling Market
In Sept 2022, Umicore and PowerCo, the new battery company of the Volkswagen Group, announced the founding of a joint venture for precursor and cathode material production in Europe. The partners aim to produce by the end of the decade cathode materials and their precursors for 160 GWh cell capacity per year, which compares to an annual production capacity capable of powering about 2.2 million fully electric vehicles.
In Nov 2022, Aurubis AG (Aurubis) and Anglo American plc (Anglo American), a British-listed multinational mining company headquartered in London, England, announced the signing of a memorandum of understanding during the World Copper Conference Asia 2022 in Singapore. Both companies want to develop copper products that respond to the increasing expectations for future-enabling metals that are sustainably sourced and supplied.
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Global E-scrap Recycling Market |
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Base Year: |
2022 |
Forecast Period: |
2023-2030 |
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Historical Data: |
2016 to 2021 |
Market Size in 2022: |
USD 8,710.00 Mn. |
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Forecast Period 2023-30 CAGR: |
12.30% |
Market Size in 2030: |
USD 19,618.00 Mn. |
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Segments Covered: |
By Product Type |
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By Process |
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By Processed Materials |
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By Region |
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Global E-scrap Recycling Market |
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Base Year: |
2022 |
Forecast Period: |
2023-2030 |
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Historical Data: |
2016 to 2021 |
Market Size in 2022: |
USD 8,710.00 Mn. |
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Forecast Period 2023-30 CAGR: |
12.30% |
Market Size in 2030: |
USD 19,618.00 Mn. |
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Segments Covered: |
By Product Type |
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By Process |
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By Processed Materials |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the Report: |
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Product Type
3.2 By Process
3.3 By Processed Materials
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory
Frequently Asked Questions
What would be the forecast period in the E-scrap Recycling Market Research report?
The forecast period in the E-scrap Recycling Market Research Report is 2023-2030.
Who are the key players in E-scrap Recycling Market?
JX Nippon Mining and Metal Corporation (Japan), Umicore N.V. (Belgium), Dowa Holdings Co. Ltd (Japan), Sims Metal Management (Australia), Stena Metall AB (Sweden), ITRenew Inc. (US), Electronic Recyclers International (US), Enviro-Hub Holdings Ltd. (Singapore), Ecoreco Ltd. (Taiwan), Global Electric Electronic Processing Inc (US), Waste Management Inc. (US), Aurubis AG (Germany), MBA Polymers Inc. (US), Stadler Anlagenbau GmbH (Germany), MRI (Metech Recycling) (United Kingdom), Ecomation (Finland), CRT Recycling Inc. (US), Cohen Electronics Recycling (US), E-Parisaraa Pvt. Ltd. (India), Lifespan International Inc. (US), and Other Major Players.
What are the segments of the E-scrap Recycling Market?
The E-scrap Recycling Market Is Segmented into Product Type, Process, Processed Material, and Region. By Product Type, The Market is Categorized into IT and Telecommunications Equipment, Large White Goods, Small Household Appliances, Others. By Process, The Market is Categorized into Pre-Processing & Sorting, Dismantling & Component Recovery, Shredding & Size Reduction, Others. By Processed Materials, The Market is Categorized into Plastic, Metal, Glass, Others. By Region, it is Analyzed Across North America (U.S., Canada, and Mexico), Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe), Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC), Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA), South America (Brazil, Argentina, Rest of SA).
What is the E-scrap Recycling Market?
Electronic waste, also known as e-waste or waste electrical and electronic equipment (WEEE), refers to discarded electrical or electronic devices. It includes used electronics that are intended for refurbishment, reuse, resale, recycling through material recovery, or proper disposal. The improper handling and processing of e-waste in developing countries can have detrimental effects on human health and cause environmental pollution.
How big is the E-scrap Recycling Market?
The E-scrap Recycling Market is expected to grow at a significant growth rate, and the analysis period is 2023-2030, considering the base year as 2022.
How big is the E-scrap Recycling Market?
The Global E-scrap Recycling Market size is expected to grow from USD 8,710.00 Million in 2023 to USD 19,618.00 Million by 2030, at a CAGR of 12.30% during the forecast period (2023-2030).
