Definition of Market/Industry:
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).
- On 15 October 2021, Umicore signed the long-term lithium supply agreements with Ganfeng Lithium Co., Ltd. and Vulcan Energy Resources. Both contracts have an initial duration of five years and can be extended upon mutual agreement.
- On 21 September 2021, Umicore announced equity investment in Solid Power, leading developer of next-generation solid state batteries.
- On 7 June 2021, Umicore’s Supervisory Board has appointed Mathias Miedreich to succeed Marc Grynberg as CEO of the Group in the 4th quarter of this year. Marc and Mathias will work together to ensure an optimal onboarding of Mathias and a smooth transition of leadership.
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.
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.
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.
Electronic Scrap Recycling Market Report Coverage
||Market Size in 2021:
||US$ 23.45 Bn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 31.67 Billion
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, ASEAN, South Korea, Australia, and Rest of Asia Pacific
- Middle East & Africa: Middle East and Africa
- By Product Type: IT, Office Equipment and Handheld Devices, Major Home Appliances, Small Home Appliances
- By Types of Metals: Ferrous Metals, Non-ferrous Metals, Precious Metals, Others (Plastics + Other)
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
- Increasing demand for electronic product
- Growing need to save energy
|Restraints & Challenges:
- Lack of integrated smelting and refining plants
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:
- 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 2020. The segment is expected to reach US$ 17.31 billion in 2028. The new smartphones with advanced features and technologies are introduced in the market, they are replacing the old phones which leads to an increase in e-waste every year.
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.
- 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.
- Boliden Group
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.