Electronic Waste Recycling Market worth $66.33 billion in 2029, at a CAGR of 6.5%, says MarketsandMarkets™

/EIN News/ -- Delray Beach, FL, Dec. 06, 2024 (GLOBE NEWSWIRE) -- The Electronic Waste Recycling Market is projected to grow from USD 48.41 billion in 2024 to USD 66.33 billion by 2029, at a CAGR of 6.5% during the forecast period, as per the recent study by MarketsandMarkets™. Electronic waste recycling, or e-waste recycling, refers to the process of collecting, disassembling, and processing discarded electronic devices to recover valuable materials while minimizing the environmental impact. The recycling process begins with the collection of e-waste from various sources, followed by sorting and dismantling to extract metals (such as gold, silver, and copper), plastics, and glass. These materials are then processed for reuse in manufacturing new products, contributing to a circular economy. E-waste recycling plays a crucial role in preventing hazardous substances from contaminating the environment, thereby promoting responsible disposal practices and resource recovery.

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201 - Market Data Tables
52 – Figures
260 - Pages

List of Key Players in Electronic Waste Recycling Market:

1. Dell Inc. (US)
2. Umicore SA (Belgium)
3. Quantum Lifecycle Partners (Canada)
4. Enviro-Hub Holdings Ltd. (Singapore)
5. Kuusakoski Oy (Finland)
6. Stena Metall AB (Sweden)
7. Call2Recycle Inc., (US)
8. Aurubis AG (Germany)
9. E-Parisara Pvt. Ltd. (India)
10. ERI (US)
11. Boliden Group (Sweden)
12. Attero Recycling Pvt. Ltd. (India)
13. Veolia (France)
14. SIMS Ltd. (Australia) 

Drivers, Opportunities and Challenges in Electronic Waste Recycling:

1. Drivers: Growing production of consumer electronics
2. Restraint: Economic viability and high establishment cost
3. Opportunity: Circular economy initiatives by recyclers
4. Challenge: Disproportionate handling capacity to actual waste generation

Key Findings of the Study:

1. Metals segment is expected to grow with highest CAGR in Electronic Waste Recycling Market during the forecasted period.
2. IT & Telecommunication is expected to grow with highest CAGR in Electronic Waste Recycling Market during the forecasted period.
3. Lithium Battery Recycling technology segment is expected to have largest share during forecasting period in terms of value.
4. Asia Pacific region is expected to registered highest CAGR both in terms of value and volume during forecasted period

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During the forecast period, the global electronic waste recycling is expected to grow in the coming years, the demand for recovery of materials is on the rise due to its growing need for precious materials in various applications in numerous industries.

Based on Source, the electronic waste recycling market has been segmented into household appliances, consumer electronics, IT & Telecommunication, mobile computing devices, and other sources. The other sources include medical, industrial, and automotive electronics.

In terms of value the IT & Telecommunication segment held the largest market share in terms of value in 2023. The constant evolution of technology in the IT & Telecommunications sectors leads to frequent equipment upgrades. This results in substantial number of outdated devices, such as servers, routers, switches, and mobile phones, being discarded. 

Based on materials, the electronic waste recycling market has been segmented into glass, metals, plastics, and other materials. The other materials include chemicals and composites.

Metals subsegment dominated the materials segment of electronics recycling market in 2023, owing to the high worth and price for extraction of precious metals, such as gold, palladium, tin, lead, and nickel from the electronic components.

Recovering metals from electronic waste helps mitigate environmental degradation associated with mining and processing raw materials. The recovery of metals aligns with the principles of circular economy, where materials are reused and recycled rather than discarded.

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Based on technology, electronic waste recycling market has been segmented into electrostatic separation, pyrometallurgical process, hydrometallurgical process, lithium battery recycling, and other technologies. The other technologies include chemical recovery, shredding, and incineration.

In 2023, the lithium battery recycling dominated the technology segment of electronics recycling market in terms of value in 2023. The process significantly reduces environmental risks associated with improper disposal. Additionally recycling lithium batteries lowers manufacturing costs. Using recycled materials requires less energy compared to producing new materials from raw sources, leading to reduced carbon emissions and a smaller environmental footprint.

Based on Region, North America accounted for the largest market share of the electronic waste recycling market due to the large volumes of electronic devices discarded from IT & Telecommunication, and household appliance sources. The leading electronic waste recyclers such as Dell Inc. (US), Quantum Lifecycle Partners (Canada), Call2Recycle, Inc. (US), and ERI (US) are working towards various innovative technologies to contribute towards regional market share. The demand for electronic waste recycling is rising in North America region due to stringent environmental regulations, government initiatives, and growing consumer awareness.

Electronic Waste Recycling Market key players are active in North America, Europe and Asia Pacific regions, tapping in the requirements of clients to recycle and comply with regulations in the region. These companies have well established market presence with robust business strategies. These companies are currently establishing their logistical channels in the regions they operate to increase the supply of electronic scraps, either through direct pick-up points or indirect method through established electronic retailers in those regions.

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