ID: MRFR/SEM/1913-CR | February 2020 | Region: Global | 122 pages
The Electronic Waste Recycling Market is expected to expand at 13.03% CAGR to reach a market value of 39,498.81 million in 2024. E-waste is an electronic and electrical waste that is growing at a significant rate due to the increasing usage of electronic gadgets and electrical appliances across several countries in the world. Due to the improper handling and unsafe disposal of e-waste, threats are caused to the environment and humans. The E-waste recycling process can recycle all the electronic and electrical devices like air conditioners, TVs, computers, mobile phones, laptops, DVDs, ovens, microwaves, fans, heaters, and toasters.
This recycling process is to safely extract raw materials like metals, plastic, glass, and mercury to reuse these materials and devices. Electronic accessories like laptops, smartphones, routers, PCs, gaming devices, and more are frequently changed or upgraded by individuals which results in a huge volume of e-waste. However, rising electronic waste around the globe is the major factor for the growth of the electronic waste recycling market. In Asia, in 2019, nearly 24.9 million metric tons of e-waste were generated. But only 12 % of waste was documented and recycled properly.
The COVID-19 shows a positive impact on the electronic waste recycling market. Due to the lockdowns and shut off the business sectors, and to maintain social distancing, most of the businesses prefer work from home process to continue their business without interruption. The adoption of work from home policies leads to an increase in demand for mobile computing devices which reduces the usage of stationary desktops and devices. But the companies are having more number of desktops in offices which are not useful in this current pandemic situation. So, to reduce the operational cost, companies are preferring recycling these desktops and invest in mobile computing devices. Hence, this recycling of systems propels the growth of the market. Apart, several companies are investing in e-waste management to bring a safe, hassle-free product in India by reducing e-waste.
Increasing electronic waste across the globe is one of the major factors that drive the growth of the E-waste recycling market. Growing employment opportunities in developing countries is the other factor that increases the growth of the e-waste recycling industry. E-waste contains precious metals like gold, silver, platinum, palladium, indium, and gallium which are scarce elements.
These are widely used in the production of consumer electronics and IT & Communication devices and these products are high in price. Due to this high price, manufacturers of the electronic industry are preferring the raw materials from recycling which rises the growth of the E-waste recycling plant. Apart, the major advantage of electronic e-waste and recycling is to reduce greenhouse gas emissions and helps in avoiding the hazards of global warming. According to the Central Pollution Control Board, the products that are harmful to the globe should be recycled and reuse.
Lack of regulatory and recycling infrastructure is one of the restraints of the E-waste recycling market. Apart, the high cost of recycling is restricting e-waste management and fewer waste collection zones are the factors that hamper the growth of the E-waste recycling market. Uncontrolled disposal, dismantling, and burning of e-waste are hindering the growth of the market.
Artificial intelligence in e-waste recycling is the opportunity of the E-waste recycling plant. The advanced Technologies, Faster replacement cycles, and greater availability of recycled and new devices are the major opportunities of the market.
The prevalence of Informal E-waste recycling sites is a challenge to the electronic waste recycling market. Complying with federal, managing logistics of e-waste programs, managing & auditing of e-waste recyclers and downstream processors, state & local laws, and data security.
Study Objectives -
The global E-waste recycling market has been divided into segments based on the material, source, and region.
Based on Material
Based on Source
Based on Region
Regional Analysis -
The global electronic waste recycling market is regionally segmented into Europe, North America, South America, Asia-Pacific, and the Middle East & Africa. Europe is projected to lead the e-waste recycling market and retain its share during the assessment period due to the rapidly rising implementation of electronic waste recycling software, solutions, platforms, and systems across industry verticals like security, marketing, automotive, healthcare, IT & Telecommunication, agriculture, retail, and manufacturing. Moreover, there is a rise in the adoption of electronic waste recycling technology for image and speech recognition and data mining which drives the growth of the market in this region.
For the electronic recycling industry analysis, the Asia-Pacific region is divided into Japan, China, India, and the rest of the Asia-Pacific. During the forecast period, Asia-Pacific is expected to register the highest CAGR of 15.25%. Japan is predicted to be a leading country-level market and reach a value of the highest CAGR of 12.75%. Moreover, India is expected to be the fastest-growing country-level market and is predicted to register a significant CAGR in the coming years for the growing population in this region. Apart, increasing awareness regarding e-waste recycling and government initiatives also increases the growth of the market in this region.
The prominent key players in the electronic waste recycling market trends are the following:
This global electronic waste recycling market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market dynamics include the electronic waste recycling market drivers, restraints, challenges, and opportunities. The electronic waste recycling market forecast segments are material, source, and region.
Globally, the electronic waste recycling market outlook has been segmented based on the material, source, and region.
|Market Size||USD 39,498.81 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Source|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Umicore S.A (Belgium), GEEP Inc (Canada), Enviro Hub Holdings Ltd (Singapore), Stena Technoworld AB (Sweden), Tetronics International Limited (Wiltshire), Electronic Recyclers International Inc. (US), Sims Metal Management Limited (US), Aurubis AG (Germany), Boliden AB (Sweden), and Attero Recycling Pvt. Ltd (India)|
|Key Market Opportunities||Growing implementation of electronic waste recycling software, solutions, platforms, and systems across industry verticals such as security, marketing, automotive, healthcare, IT & telecommunication, retail, agriculture, and manufacturing.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global Electronic Waste Recycling Market is predicted to grow at a 13.03% CAGR between 2018-2024.
The Electronic Waste Recycling Market is predicted to reach USD 39,498.81 million by 2024.
Europe will lead the global electronic waste recycling market.
Rise in employment opportunities and increasing electronic waste worldwide are the key factors driving the global electronic waste recycling market growth.
Key contenders profiled in the global electronic waste recycling market include Umicore S.A (Belgium), GEEP Inc (Canada), Enviro Hub Holdings Ltd (Singapore), Stena Technoworld AB (Sweden), Tetronics International Limited (Wiltshire), Electronic Recyclers International Inc. (US), Sims Metal Management Limited (US), Aurubis AG (Germany), Boliden AB (Sweden), and Attero Recycling Pvt. Ltd (India).