The E-scrap recycling market size is projected to reach US$ 11910.71 million by 2031 from US$ 4092.32 million in 2023. The market is expected to register a CAGR of 14.3 % during 2023–2031. An increase in transboundary movement of e-scrap is likely to remain a key trend in the market.
Household appliance manufacturers are also offering newer models to attract customers. The new product launches precede scrapping the existing household appliances, which is benefitting the e-scrap recycling market players. This is again transforming the e-scrap recycling industry. Furthermore, as technological advancements are advancing rapidly across the globe, the manufacturers of consumer electronics or household appliances with limited lifespans. This helps the manufacturers to increase their technologies over some time, resulting in a decrease in the amount of electronic scrapyards, which is ultimately driving the e-scrap recycling market.
E-waste recycling is the method of extracting valuable items after removing the e-waste into tiny pieces that could be recycled in a new electronic appliance. E-waste recycling has all kinds of benefits, including the protection of the environment and human health. Most of the materials that make up smartphones and computers are derived from non-renewable minerals; recycling these materials can avert the supply of consumer goods that become inevitable in lives from being suspended until substitutions are discovered.
The governments of various countries are taking initiatives for E scrap recycling. The Government has carried out a number of steps to formalise the e-waste recycling sector of the various country. The E-Waste (Management) Rules provide for mandatory authorization of the demolishing and recycling units from the involved State Pollution Control Boards (SPCBs)/ Pollution Control Committees (PCCs). CPCB has issued guidelines for the processing of e-waste. The CPCB and SPCBs have been observing the units, and necessary measures have been taken to enhance and modernize the recycling industry with the help of the Ministry of Electronics and Information Technology. Therefore, the growing government initiatives are driving the E-scrap recycling market.
Consumers are highly satisfied with products made from recycled materials that are also ecological at the end of their lifespan. In a survey of a company, a large majority assumed that products made from recycled materials are superior to those made from virgin materials. Consumers globally have become progressively concerned about packaging waste and leakage into the environment, and governments have begun answering to public sentiment with robust action along accelerated timelines, so the demand for recycled materials is increasing, which is creating more opportunities for the market.
Key segments that contributed to the derivation of the E-scrap recycling market analysis are component, protocol, and application.
The geographic scope of the E-scrap recycling market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
APAC dominates the E-scrap recycling market. Various factors are driving the APAC E-scrap recycling market, such as growing government initiatives, increasing demand for recycled materials and more. Therefore the market is significantly growing in the region.
The regional trends and factors influencing the E-scrap Recycling Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses E-scrap Recycling Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 4092.32 Million |
| Market Size by 2031 | US$ 11910.71 Million |
| Global CAGR (2023 - 2031) | 14.3 % |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The E-scrap Recycling Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the E-scrap Recycling Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The E-scrap recycling market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the E-scrap recycling market are listed below:
The “E-scrap Recycling Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The expected CAGR of the global E-scrap recycling market is 14.3 %.
The global E-scrap recycling market is expected to reach US$ 11910.71 million by 2031.
An increase in transboundary movement of e-scrap is anticipated to play a significant role in the global E-scrap recycling market in the coming years.
The key players holding majority shares in the global E-scrap recycling market are DOWA HOLDINGS CO., LTD, Ecoreco Ltd, Electronic Recyclers International, Inc., Enviro-Hub Holdings Ltd, JX Nippon Mining & Metals Corporation, Sims Metal Management Ltd, Stena Metall Ab, Tetronics, Umicore, and Quantum Lifecycle Partners.
Growing government initiatives and increasing demand for recycled materials are the major factors that propel the global E-scrap recycling market.
APAC dominates the E-scrap recycling market.