ELECTRONIC SCARP RECYCLING MARKET ANALYSIS

Electronic scrap recycling is the process of recycling used electrical and electronic devices such as laptops, TVs, computers, air conditioners, mobile phones, DVDs, oven, etc. The purpose of electronic scrap recycling is to reduce the environmental impact and safely extract raw materials such as glass, plastic, metals, and mercury, and reuse these extracted materials and devices.

Global electronic scrap recycling market was valued at US$ 2345.0 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.09% during the forecast period (2022 to 2030).

Drivers

Increasing use of electronic products around the globe is leading to the generation of electronic waste on landfill. This is a prime factor fueling the market growth of electronic scrap recycling. According to Eurostat's, with 1.9 Billion tons, large household appliances accounted for 51.8% of the total waste electrical and electronic equipment collected in the EU in 2019. Thus, the growing use of electronic products is projected to drive the market growth of the electronic scrap recycling.

The growing need for saving energy and reduce the burden on mining ores for primary metals is propelling the market growth of electronic scrap recycling. The increasing use of recycling of e-waste for the recovery of various metals is essential for saving energy. For instance, electronic recycling helps in extraction of metals that require significant energy consumption for extraction and are seen in low concentrations in primary ores. Moreover, e-waste is a highly rich source than for from where precious metals can be extracted.

The outbreak of COVID-19 across regions has resulted in the lockdown of cities, border restrictions, and breakdown of transportation networks. This is projected to have a significant impact on the energy industry, international trade, and manufacturing operations across the world. The control of the COVID-19 and restrictions on business operations travel, and the manufacturing sector has a considerable impact on waste management. Especially during the COVID-19 epidemic, waste management is crucial to human growth and health consequences. The consumption of game consoles, cell phones, electric ovens, and laptops increased due to COVID-19 adding to the consumption of electronic and electrical equipment, and hence future e-waste generation. While global sales of small electronic devices like cell phones, laptops, and gaming consoles did in fact rise due to COVID-19, this was more than compensated by declining sales of larger equipment, including desktop monitors, TVs, lamps, and home appliances. As a result, numerous experts predict a significant increase in the usage of electrical and electronic equipment and a corresponding increase in e-waste generation

Figure 1. Global Electronic Scrap Recycling Market Value Share (%), By Region, 2021

Market Restraints

High costs associated with the recycling process is a major factor hindering the market growth of electronic scrap recycling. Recycling of e-waste, includes various challenges such as collection, transportation, installation of integrated refining and smelting facilities, and the liberation of metal fractions. All these involve the price of electronic scrap recycling.

Lack of integrated smelting and refining plants across emerging regions is also projected to restrict the market growth. Additionally need for advanced technology and high maintenance requirement are again restricting the market growth of electronic scrap recycling.

 Market Trends

An increase in the trans-boundary movement of e-scrap is one of the emerging trends in the market. Moreover, growing awareness regarding the value of precious metals have increased the adoption of advanced tracking systems and technology such as phone trackers, international traces, and Basel Action Network (BAN) deployed traces. Thus, growing trans-boundary movement of e-scrap and adoption of this high-end tracking system is expected to stimulate the market growth over the forecast period.

Growing initiatives by electronic products manufacturer for e-waste recycling is one of the emerging trends in the industry and this ongoing trend is projected to escalate the market growth. For instance in 2019, Cerebra Integrated Technologies Limited has undertaken 15,000 MT of EPR commitment of Samsung as its EPR client to collect and recycle e-waste. The company has undertaken the commitment of collecting and recycling consumer electric and electronics waste (TVs, Refrigerators, and Washing machines).

 Figure 2. Global Electronic Scrap Recycling Market Value Share (%), By Types of Metals, 2021

On the basis of types of metals, the others (plastics and others) segment held dominant position in the market and accounted for 54.76% share in the global electronic scrap recycling market in 2021.                    

Recent Developments

• InApril 2022, DOWA HOLDINGS CO., LTD. signed a collaboration agreement with Tohoku University to develop and expand research efforts for resource recycling and the provision of superior technology and materials. The purpose of this collaborative effort is to develop advanced technology that will contribute to delivering resource recycling and superior materials and technologies, while also responding to sustainability challenges such as carbon neutrality and population decreases.
• In September 2021, Umicore, a multinational materials technology company headquartered in Brussels, Belgium announced equity investment in Solid Power, leading developer of next-generation solid state batteries. With this Umicore will be able to expand its product portfoilio in electronics market.
• In February 2021, Quantum Lifecycle Partners, an E-waste recycling company expanded its reach by acquiring GEEP Costa Rica facilities, providing reuse and recycling solutions to its increasing customer base in Latin America and the Caribbean.

Competitive Section

Major players operating in the global electronic scarp recycling market include, Umicore N.V., Dowa Holdings, Co., Ltd., Ultromex Ltd., LS-Nikko Copper Inc., Glencore Xstrata PLC., Enviro-Hub Holdings Ltd., Outotec Oyj, JX Holdings, Inc., Mitsui & Co., Ltd., and Boliden Group