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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.
The global electronic scrap recycling market is estimated to be valued at US$ 23.45 Billion in 2021 and is expected to exhibit a CAGR of 5.1 % over the forecast period (2021-2028).
Recent Developments:
Figure 1. Global Electronic Scrap Recycling Market Value (US$ 21.11 Mn), by Region, 2020
Asia Pacific 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. Asia Pacific is followed by North America and Europe.
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 2017. 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. Also, e-waste is a highly rich source than for from where precious metals can be extracted.
Market Opportunities
Untapped regions such as the Middle East, Africa, South America, and other parts of Asia Pacific have potential market opportunities for electronic scrap recycling. The increasing number of smelting and recycling in the market is also expected to contribute to the market growth of electronic scrap recycling. Thus, these untapped areas are expected to provide potential business benefits for the players entering into electronic scrap recycling over the forecast timeframe.
Increasing use of smartphones due to the penetration of the internet is projected to offer immense growth opportunities over the forecast period. As per the estimates by International Telecommunication Union at the end of 2019, 53.6 percent of the global population, or 4.1 billion people, were using the Internet. Moreover, expansion of online retail industry due to growing online transaction coupled with the emerging economies such as China and India is again driving the market growth of the electronic scrap recycling.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2020 | Market Size in 2021: | US$ 23.45 Bn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR: | 5.1% | 2028 Value Projection: | US$ 31.67 Billion |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
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 |
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| Restraints & Challenges: |
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Market Trends
An increase in the trans-boundary movement of e-scrap is one of the emerging trends in the market. Also, 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, 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 Share, By Types of Metals, 2020
Key Takeaways of the Graph:
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 developing 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.
Competitive Section:
Company Names
Recent Developments
In November 2019, MG Motor India announced that it has partnered with Umicore for the recycling of end-of-life batteries of the ZS EV.
Electronic scrap is the term given to electronic waste that can be recycled. Electronic waste or e-Waste refers to discarded electronic or electrical devices disposed of through public curbs, landfills, and incinerators. Common electronic devices include computers, printers, cell phones, faxes, television sets, music players, and other devices that are in need of replacement or repair. Used electronic equipment that is destined for re-sale, recycling, reprocessing through electronic material recovery or other disposal is also regarded as e-waste. Electronic scrap is a by-product of electronic devices that cannot be used or sold.
Market Dynamics:
Increasing demand for electronic products is a prime factor fostering growth of the global electronic scrap recycling market. According to the India Brand Equity Foundation, the Indian appliance and consumer electronics (ACE) market reached Rs. 76,400 crore (US$ 10.93 billion) in 2019. Appliances and consumer electronics industry is expected to double to reach Rs. 1.48 lakh crore (US$ 21.18 billion) by 2025. Moreover, increasing use of recycling of e-waste for the recovery of various metals which can be beneficial in saving energy is again augmenting growth of the market.
However, the lack of integrated smelting and refining plants across developing regions is expected to restrict growth of the electronic scrap recycling market
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
The global electronic scrap recycling market size is estimated to be valued at US$ 23.45 Billion in 2021 and is expected to exhibit a CAGR of 5.1% between 2021 and 2028.
Growing demand for electronic products and rising need to save energy are the factors fuelling growth of the market.
The plastic and others product type segment is the leading component segment in the market.
Lack of integrated smelting and refining plants is expected to hinder growth of the market.
Major players operating in the 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
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