Electronic Waste Recycling Market Size, Share, Growth and Industry Analysis, By Type (Metal, Plastic and Other), By Application (Enterprise, Government & NGO Other) Regional Forecast From 2023 To 2030

Updated On: 01 April 2024

ELECTRONIC WASTE RECYCLING MARKET REPORT OVERVIEW 

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The global electronic waste recycling market size is expected to be USD 24 million in 2022 and the market is projected to touch USD 37 million by 2028, exhibiting a CAGR of 7.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering; with the electronic waste recycling market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

The market for electronic waste recycling has experienced substantial expansion as waste recycling is becoming more popular worldwide and has been implemented to preserve human and environmental health, mostly due to the broad environmental pollution impacts of e-waste. More than 50 million tons of e-waste is produced year, and during the anticipated term, this volume is expected to increase significantly. The need for electronic waste recycling in order to recover valuable metals, polymers, and other materials has increased due to the importance of the valuable materials present in some electronic components.

COVID-19 Impact: Increase in E-Waste Production due to Increase in use of Electronic and Electrical Equipment 

Regional COVID-19 outbreaks led to the collapse of transportation systems, the closing of borders, and the lockdown of cities. This is anticipated to have a considerable effect on global trade, manufacturing activities, and the energy sector. Electronic waste recycling was significantly impacted by COVID-19 control, travel limitations, and other business-related issues. Electronic waste recycling was essential to human development and the effects on human health, particularly during the pandemic. Without the newest technologies, it seemed impossible to survive the viral lockdowns. Due to the pandemic, more video game consoles, electric ovens, cell phones, and laptops were used, which increased the consumption of electronic and electrical equipment and the subsequent production of e-waste. A considerable increase in the use of electronic equipment and therefore, escalation in e-waste production.

LATEST TRENDS

"Partnership between SLS and Dutch Datacenter Association to Regulate Technological Changes "

Sims Lifecycle Services (SLS) became a partner member of Dutch Datacenter Association in December 2020. The company's standing as a top-tier provider of data center services was strengthened by its membership in this illustrious organization for the Dutch data center industry. SLS is essential for regulating technological changes in data centers. For retired data center equipment, the business provides onsite data destruction, resale, and recycling services.

ELECTRONIC WASTE RECYCLING MARKET SEGMENTATION

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• By Type

Based on type, the market is distributed into Metal, Plastic and Other

• By Application

Based on application, the market is divided into Enterprise, Government & NGO and Other

DRIVING FACTORS

"Increase in Electronic Waste across the World aids in Growing the E-Waste Market"

Even though these products' useful lives have shrunk, the global market for electronic waste recycling has grown significantly in recent years. Policymakers are faced with additional issues as more of these products are disposed of in landfills and recycling facilities. The vast majority of people are uninformed of the possibly negative effects of the increased use of monitors, televisions, and computers. These products' toxic components pose a health risk when they are dumped in landfills. Electrical devices have the potential to harm the environment if they are disposed of improperly. Environmental toxins are expected to spread more widely as landfills accept more e-waste, raising the risk of neurological diseases. Most electronic goods have a relatively short lifespan, which is a major factor in the expanding electronic waste recycling problem. The majority of developing nations lack the waste management systems and technical capacity required to assure secure handling of hazardous waste. E-waste in these nations has been linked to a number of health problems.

"Use of AI Technology and Sensors to Curb Issues of E-waste Generation and Environmental Problems."

Because a variety of hazardous elements that might damage the environment and have an adverse impact on human health are not closely regulated, electronic waste is one of the world's most urgent environmental problems. Electronic waste recycling companies use internet of things (IoT) sensors to keep track of the condition of trash cans all over the area. This makes it possible for businesses to enhance garbage collection schedules, frequency, and routes. AI is used to scan rubbish or new things with cameras and evaluate them using deep learning algorithms. AI is able to discern between objects made of different materials as well as minor differences between objects made of the same material. A better approach for efficient recycling and trash management is to integrate AI into the operations of rubbish sorting and disposal. Consequently, many sensors and AI are employed.

RESTRAINING FACTOR

"Lack of Recycling Infrastructure and Legal Regulations Hinder in the Growth of this Market"

These electronic devices are rapidly replaced by newer models because of the rapid advancement of technology and the production of newer electronic equipment. Consequently, there is now exponentially more e-waste being produced. Product life spans have decreased and users are more likely to update to newer versions. An increasing environmental problem, particularly in developed countries, is e-waste. As a result of manufacturing activities, the world currently faces numerous environmental problems. But instead of being recycled, a lot of the e-waste is shipped to developing countries. The worldwide electronic waste recycling market growth is severely constrained by the absence of recycling infrastructure and a legal environment for recycling in poorer nations. For e-waste collection from the generator to the treatment facility, there are no designated collection pathways in these countries.

ELECTRONIC WASTE RECYCLING MARKET REGIONAL INSIGHTS

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"Asia Pacific to Lead during the Forecast Period due to Increase in Recycling of Electronic Trash"

Over the length of the prediction, the Asia Pacific region will lead the electronic waste recycling market share for recycling electronic trash. Increased per capita income across many nations, increased sales of electronic devices like refrigerators, mobile phones and computers, increased sales of electrical and electronic devices, reluctance to repair faulty devices, the export of e-waste from developed regions to developing nations like Pakistan, China, and India, growing environmental concerns, and new product developments for ongoing innovation and price reduction of electronic goods are just a few of the factors contributing to these trends.

KEY INDUSTRY PLAYERS

"Increase in E-Waste and Employment Opportunities lead to Substantial Expansion during the Forecast Period"

Due to an increase in electronic trash globally and more employment possibilities in emerging nations, the market for recycling electronic garbage has seen substantial expansion during the predicted period. The electronic waste recycling market is dominated by a number of local, regional, and international players who are all competing for a sizable portion of the market.

List of Market Players Profiled

• SIMS Recycling Solution (U.S.)
• Stena TechnoWorld (Germany)
• Kuusakoski (Finland)
• Umicore (Belgium)
• environCom (U.K.)
• WASTE MANAGEMENT (U.S.)
• Electronic Recyclers International (California)
• GEEP (Canada)
• CIMELIA Resource Recovery (Singapore)
• Veolia (France)
• Gem (India)
• Dongjiang (China)

REPORT COVERAGE

This report covers the electronic waste recycling market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.