Electronic waste recycling companies are dedicated to responsibly disposing of and recycling electronic waste (e-waste) components and devices to reduce environmental impact. These services are critical in managing the disposal of obsolete electronic equipment.
*Disclaimer: List of key companies in no particular order
Competitive Landscape of Electronic Waste Recycling Market
The global electronic waste (e-waste) recycling market is a burgeoning giant, propelled by the relentless march of technological advancements and growing environmental consciousness. But within this fertile terrain lies a complex competitive landscape, where established players clash with nimble newcomers, all vying for a piece of the ever-growing pie. To successfully navigate this intricate ecosystem, understanding the competitive landscape is crucial.
Some of the Electronic Waste Recycling companies listed below:
Strategies Adopted by Key Players:
Factors for Market Share Analysis:
Assessing market share in the e-waste recycling market requires a multifaceted approach. While traditional metrics like revenue and processing volume play a role, other crucial factors must be considered:
New and Emerging Companies:
The e-waste recycling market is witnessing the emergence of new players alongside established giants. Startups and tech-driven companies are challenging traditional methods with innovative solutions:
Latest Company Updates:
The BPCL launches the E-Waste Management Initiative in 2023 to strengthen the SDGs even more. In order to effectively manage their organization's e-waste, including prompt disposal in accordance with the law, they have issued a directive on the subject. As part of its sustainability initiatives for the reduction and recycling of e-waste, Bharat Petroleum Corporation Limited (BPCL), a "Maharatna" and Fortune Global 500 Company, today announced the launch of a special project called "Sound Management of Waste Disposal (SMWD)."
Dialogue Axiata PLC, one of its product responsibility initiatives, began the e-Kunu programme in 2023 with the goal of revolutionising e-waste management in Sri Lanka by collecting and sustainably recycling electronic waste through Dialogue Customer Experience Centres island-wide. e-Kunu expands beyond mobile waste to include a wide range of electronic items, building on the success of Dialog's National "mWaste" Project, which started in 2008 and eventually became a part of the National E-waste Programme in 2014.
The start of the Sustainable Tech Recycling programme for enterprises has been announced by electronic waste and tech recycling company Zolo for 2023. The programme, according to Zolo, is a reflection of the business's dedication to environmental sustainability and efforts to lessen its carbon footprint. The Sustainable Tech Recycling programme for businesses has been launched by Zolo, a firm that prides itself on balancing profit and purpose. This initiative reflects the company's dedication to environmental sustainability and its attempts to lower its carbon footprint.
Electronic Waste Recycling Market Size was valued at USD 30.4 billion in 2023. The Electronic Waste Recycling market industry is projected to grow from USD 34.5 billion in 2024 to USD 94.2 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.40% during the forecast period (2024 - 2032). Electronic waste recycling has become increasingly important in recent years due to a combination of environmental and economic factors. One of the driving factors of the Electronic Waste Recycling Market is the rapidly increasing amount of electronic waste generated worldwide. With the proliferation of electronic devices, including smartphones, laptops, tablets, and other electronic gadgets, the volume of electronic waste is expected to continue to rise in the coming years
FIGURE 1: ELECTRONIC WASTE RECYCLING MARKET SIZE 2018-2032 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The global market for electronic waste recycling has increased tremendously in recent years, even as the lifespan of these items has shortened. As more of these products end up in landfills and recycling facilities, policymakers face a new challenge. The majority of individuals are unaware of the potentially harmful consequences of the rising usage of computers, monitors, and television. The hazardous elements in these goods represent a health concern when they are disposed of in landfills or destroyed. When electrical items are disposed of improperly, they have the potential to harm the environment. As more e-waste is disposed of in landfills, environmental pollutants are anticipated to become more prevalent, increasing the risk of neurological illnesses. The short lifespan of most electronic products—less than two years for computers and cell phones—is a key contributor to the growing e-waste problem. The majority of developing countries lack the waste removal infrastructure and technical capabilities needed to ensure safe hazardous waste disposal. In these countries, e-waste has been connected to several health issues.
Based on the material, the market has been segmented into metals and chemicals, plastics, glass, and others. The metals and chemical material segment hold the largest market share and is expected to retain its dominance throughout the projected period. This can be attributed to the presence of various metals in electronic devices. Metals are a good conductor of electricity and are used in electronic devices to maintain their functionality. Various types of metals and chemicals are used in electronic devices such as copper, silver, gold, steel, palladium, zinc, lead, and mercury due to their high conductivity, durability, and other properties. Copper and steel are the largest materials that can be recovered from electronic waste and have a good value in the market. The major stakeholders benefit from the high recovery rate of metals from electronic wastes compared to other materials. Recycled metals are also profitable as it reduces the cost of buying new raw material and reduce the harmful effect caused by them. Furthermore, chemicals present in the electronic wastes can also be recycled and extracted materials can be reused for various purposes. Some of the major chemicals/semimetals extracted from the electronic wastes are bromic and arsenic.
FIGURE 2: ELECTRONIC WASTE RECYCLING MARKET SHARE BY MATERIAL 2022 VS 2032 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Based on the sources, the market has been segmented into household appliances, entertainment & consumer electronics, IT & telecommunication, medical equipment, and others. Household appliances have always been the major source of electronic wastes recycling for the past few years. This can be attributed to the significant sales of household devices across the globe. The increased disposable income coupled with the surge in affordability has driven its sales worldwide. Moreover, a considerable decline in the prices of household appliances also has boosted its sales and end-use penetration among the consumers.
Online shopping acts as the catalyst for household appliances sales across every corner of the world. With increased sales, its e-waste is also growing at an exponential rate from the past few years. Household appliances such as washing machines, refrigerators, air conditioners, dishwashers, fans, coolers, microwave ovens, small kitchen appliances (mixers, grinders, cutters, coffee makers, toasters, blender, food processor, electric grill, induction, among several others) are the wastes generating in millions of tons each year. Every year millions of new household devices are sold, and older ones are generated as wastes. The recovered material volume from the household appliances is significantly high and is expected to grow at a phenomenal growth during the projected period.
FIGURE 3: ELECTRONIC WASTE RECYCLING MARKET SHARE BY SOURCE 2022 VS 2032 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Europe holds the largest market share in 2022. In sophisticated waste management systems in Europe, the majority of ICT trash is formally recycled and handled. As a result, garbage is collected and handled in a regulated manner, and any dangerous emissions are dealt with. Before incineration, as much as feasible is recycled, and the remainder is disposed of in supervised landfills. At formal recycling, any harmful emissions are controlled both throughout the recycling process and in the official landfill. However, Europe continues to export hazardous waste; around 10% of the ICT trash from the nations surveyed is exported. Western Europe's trash is mostly sent to Eastern Europe, West Africa, and Asia. In addition, Europe's regulated waste management systems address foreign trash, primarily from North America.
The WEEE Directive governs the bulk of e-waste in Europe. The European Union and Norway have adopted this rule. Similar laws exist in Iceland, Switzerland, and several Balkan nations, notably Serbia and Bosnia & Herzegovina. For all six types of e-waste, the WEEE Directive established collection, recycling, reuse, and recovery objectives. The European Union has a well-developed compliance e-waste management infrastructure that allows private operators to collect e-waste in shops and towns and recover recyclable components and dispose of residuals in a compliant and ecologically sound way. This is supported by the relatively long history of EU e-waste regulation, which dates back to early 2003.
FIGURE 4: ELECTRONIC WASTE RECYCLING MARKET SHARE BY REGION 2022 VS 2032 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market for electronic waste recycling has been witnessing significant growth over the forecast period owing to the growing adoption of electronic waste recycling in various sectors. The e-waste recycling industry is rapidly expanding as the demand for improved technologies and critical equipment grows. The tremendous expansion and popularity of home electronics, ranging from laptops to smartphones to flat-screen televisions, has transformed this area into a multibillion-dollar worldwide market with a quick turnaround. The advent of a flourishing e-waste recycling business has emerged as a potential answer. It was created in response to the rising popularity of consumer electronics as well as the growing disfavor of these items in landfills.
The electronic waste recycling market is characterized by several companies operating globally. The growth of these vendors depends upon the market conditions, the impact of macroeconomic factors on the market competition, government support, and industry development. The industry is expected to remain competitive with frequent acquisitions and strategic alliances adopted by the key players as a part of their business strategy to increase the industry presence. During the study, MRFR has analyzed some of the major players in the Electronic Waste Recycling Market who have contributed to the market growth. These include Umicore SA (Belgium), Quantum Lifecycle Partners (Geep Inc.) (Canada), Enviro-Hub Holdings Ltd (Singapore), Stena Technoworld AB (Sweden), Tetronics International Limited (UK), Electronics Recyclers International Inc. (US), Sims Limited (US), Aurubis AG (Germany), Boliden AB (Sweden), Attero Recycling Pvt. Ltd (India), Great Lakes Electronics Corporation (US), E-Parisaraa Private Limited (India), Greentec (Canada), Cleanaway (Australia), and Veolia Environment SA (France).
October 2021 Umicore has joined the Global Alliance for Trade Facilitation in Geneva, including some of the world's biggest manufacturers, merchants, and logistics companies. Umicore joins Alliance in supporting the World Trade Organization's Trade Facilitation Agreement, which aims to make cross-border trade easier, faster, and less expensive.
October 2021 Umicore has inked a long-term lithium supply agreement with Ganfeng Lithium Co. Ltd, China and Vulcan Energy Resources, Australia, bolstering its lithium supply capabilities as demand for electric vehicle batteries grows. These long-term agreements will provide Umicore with a more sustainable and regional supply of this critical raw material to address the growing demand for cathode materials from its global automotive customers as the transition to electromobility accelerates in key regions. The long-term agreement is signed for five years, with the option of an extension if both parties agreed. The arrangement with Vulcan, a German-Australian lithium producer, will go into force in 2025. It will cover a portion of Umicore's lithium hydroxide requirements in Europe, allowing the company to purchase between 28,000 and 42,000 tonnes over the contract's duration.
July 2021 Umicore and ENGIE, France, have inked a long-term corporate power purchase agreement (PPA) to deliver renewable electricity to Umicore's greenfield project in Nysa, Poland. It will be Europe's first plant to create cathode materials and essential components of rechargeable Li-ion batteries used in electric vehicles. ENGIE will generate green electricity at its 100 percent-owned wind farm near Pgów, Poland's Opole district. The PPA will allow ENGIE to ensure the wind park's economic viability after the existing subsidy arrangement expires. At the same time, the PPA will help Umicore achieve its goal of carbon neutrality by 2035 by ensuring a long-term renewable energy supply for the Nysa plant.
Electronic Waste Recycling Market Highlights:
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