E Waste Recycling Market Share, Opportunities, Industry 2031

Report Description

The e-waste recycling market size was valued at USD 29.98 Billion in 2022  and is projected to reach USD 115.79 Billion by 2031 , expanding at a CAGR of around 5.57% during the forecast period, 2023 – 2031. The growth of the market is attributed to increase in electronic waste around the world, as well as an increase in employment prospects in emerging countries.

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Any discarded goods containing a plug or battery is known as e-waste. Any electronic gadget that has reached the end of its useful life is referred to as e-waste. Small and large appliances, as well as heating and cooling equipment, comprise the majority of e-waste. E-waste can be hazardous to the environment if not disposed of properly, hence recycling and recovery initiatives are essential. Small businesses produce a tiny percentage of the e-waste that the world must jointly handle as compared to multinational corporations. E-waste is a global crisis that is rapidly escalating into its own problem. The procurement of new technology to help employees shift to remote work during the epidemic has raised concerns about data security as well as e-waste. COVID-19 resulted in a waste of short-term technology investment, putting data at risk across a wide range of devices.

Market Trends, Drivers, Restraints, and Opportunities

• Electronic gadgets are being used in almost every human activity owing to technologies such as the Internet of Things (IoT), which is driving the market.

• Growing environmental impacts and the need to extract precious metals from e-waste are estimated to fuel the market during the forecast period.

• Government measures as well as the establishment of e-waste collecting zones around the world are expected to boost the market during the projected period.

• Increasing awareness about the importance of recycling e-waste is expected to propel the market in the coming years.

• Lack of recycling infrastructure is projected to hinder the market growth.

• Decrease in the life cycle of electronic devices is expected that useable electronic items will be discarded as e-waste, which is projected to create immense opportunities for the market players.

• Integration of AI in e-waste recycling is anticipated to offer lucrative opportunities for the market growth during the forecast period.

Scope of the Report

The report on the global e-waste recycling market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

The consumer electronics segment accounted for a major market share in 2021

Based on sources, the market is segregated into industrial electronics, medical equipment, it & telecommunication, consumer electronics, household appliances, and others. The industrial electronics segment is further fragmented into medical equipment and IT & telecom equipment. The consumer electronics segment is further segregated into PCBs, IT equipment, IT accessories, handheld electronic devices, and household appliances. The consumer electronics segment accounted for a major market share in 2021 and is projected to maintain its dominance during the forecast period. The widespread adoption of the aforementioned devices in the household and business sectors has been the primary factor driving the segment. The industrial electronics segment is projected to expand at a high CAGR during the forecast period. Growth of the segment is attributed to rising establishment rate of IT and telecom solution providers, as well as the developing healthcare sector worldwide.

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The metal segment is projected to expand at a high CAGR during the forecast period

On the basis of materials, the market is fragmented into glass, plastics, metals & chemicals, and others. The others segment is sub-segregated into ceramics, concrete, plywood, wood, and rubber. The metal segment is projected to expand at a high CAGR during the forecast period. Metal solders, metal tracks, and conductive metals are among the components used in electronic and electrical equipment. Metals are utilized in almost every component, including microcontrollers and printed circuit boards (PCBs), thus the segment is expected to increase during the projected period. The plastics segment is estimated to grow at a rapid pace during the forecast period due to increased use of plastic in a variety of electronic gadgets, such as telephones, lawnmowers, kettles, computers, and food processors.

Asia Pacific dominated the global market in 2021

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market is Asia Pacific dominated the market in 2021 owing to increasing disposable income in emerging and developed nations, combined with an increased adoption of electronic gadgets. Furthermore, industrialized countries such as the UK and US export a considerable amount of e-waste to Asian countries, which is expected to boost the regional market during the projected period. The market is Middle East & Africa is projected to expand at a high CAGR during the forecast period due to unauthorized dumping of e-waste from developed economies, as well as increased government legislation for the organized recycling and collection of electronic waste in the region.

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