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Electronic Scarp Recycling Market Was Valued at US$ 2345.0 Mn in 2021

Electronic Scarp Recycling Market Was Valued at US$ 2345.0 Mn in 2021 - Coherent Market Insights

Publish In: Dec 12, 2022

Global Electronic Scarp Recycling market was valued at US$ 2345.0 million in 2021, According to Electronic Scarp Recycling Market Report, 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)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights

Global electronic scarp recycling market  was valued at US$ 2345.0 Million in 2021.Electronic Scarp Recycling market is expected to register a CAGR of  6.09 % over the forecast period (2022–2030), to reach US$ 3982.0 Million by 2030.

Electronic scrap recycling is recycling of waste generated due to the dispose of electronic products in landfills. Scrapped electronic products can be used in manufacturing new and advanced electronic devices and also helps in reducing the environmental impact. Electronic scrap recycling consider one of the feasible solution for the elimination of harmful effects on the environment.

The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on electronic scrap recycling market.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/electronic-scrap-recycling-market-4822

Browse 50 market data tables* and 40 figures* on "Global Electronic Scrap Recycling Market” - Forecast to 2030.

Key Trends and Analysis of the Global Electronic Scrap Recycling Market:

  • Increasing disposable income and changing lifestyles of the consumers is driving demand for electronic products. The growing population around the globe is another major factor fueling the market growth of electronic products which is driving demand for electronic scrap recycling in order to reduce the accumulation of waste in the landfill. According to the United Nations in 2020, the world’s population is expected to increase by 2 billion persons in the next 30 years, from 7.7 billion in 2020 to 9.7 billion in 2050.
  • Increasing manufacturing of products for recycling purposes is gaining traction in the market. For instance, in May 2019, Samsung Electronics, Seoul, South Korea, was recognized by the U.S. Environmental Protection Agency (EPA), Washington, for its sustainably designed products and processes, as well as diverting electronics from landfill. In December, the company won the Gold Tier award in the EPA’s Sustainable Materials Management Electronics Challenge for diverting nearly 276,000 tons of electronics from landfills to e-Stewards certified recyclers.

Key Takeaways of the Global Electronic Scrap Recycling Market: 

  • According to Coherent Market Insights in 2021, among regions, Asia Pacific region held largest revenue share of 40.00% in the global electronic scrap recycling market in 2021, followed by North America and Europe. 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. 
  • Key players operating in the global electronic scrap recycling market are focusing on various strategies such as online platforms in order to strengthen their market presence and expand their product portfolio. For instance, in October 2020, Cleanaway, a provider of sustainable total waste management service acquired Grasshopper Environmental, a waste management services provider in Sydney, Blue Mountains, Illawarra, and Central Coast regions. Grasshopper Environmental provides waste management services in the building, demolition, and infrastructure, as well as commercial and industrial sectors.
  • New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the electronic scrap recycling are key strategies adopted by players in the global electronic scrap recycling market. For instance, in July 2022, ERI, one of the leading recyclers of electronic and cyber security intensive hardware destruction companies, and Redrock Environmental Group collaborated with the County of Madera. With this collaboration the residents of Madera County will be provided with appropriate way to recycle undesirable consumer electronics.

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