Consumer Electronics Segment is Expected to be the Fastest Growing During Forecast Period
According to The Insight Partners market research study on “MEA E-Scrap Recycling Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Processed Material” is expected to reach US$ 63.95 million by 2028 from US$ 27.39 million in 2021. The market is estimated to grow at a CAGR of 12.9% from 2021 to 2028. The report provides trends prevailing in the MEA e-scrap recycling market along with the drivers and restraints pertaining to the market growth. Technological enhancement in e-scrap recycling services is the major factor driving the growth of the MEA e-scrap recycling market. However, issues associated with the complexity and toxicity associated with process hinder the growth of MEA e-scrap recycling market.
The MEA e-scrap recycling market is segmented based on product type, processed material and country. Based on product type, the market is segmented into IT & telecom equipment, small household appliances, large white goods, consumer electronics, and others. The large white goods segment dominated the market in 2020 and consumer electronics segment is expected to be the fastest growing during the forecast period. Based on processed material, the market is segmented into metal, glass, plastic, and others. The metal segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on country, the MEA e-scrap recycling market is classified into the South Africa and Rest of MEA.
DOWA HOLDINGS CO., LTD; Enviro-Hub Holdings Ltd; JX Nippon Mining & Metals Corporation; Sims Metal Management Ltd; Stena Metall Ab; Tetronics; and Umicore are among the leading companies in the MEA e-scrap recycling market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, DOWA ECO-SYSTEM CO., LTD., a subsidiary of DOWA HOLDINGS CO., LTD., has secured permission for a hazardous waste detoxifying incinerator at its Indonesian subsidiary, which will commence operations in December 2021. In addition, the business plans to build a new waste treatment facility in East Java, complete with a secure landfill that can receive hazardous waste, and begin operations in the second half of 2022. It would allow the DOWA Group to improve its complete waste management service in Indonesia while also preparing a system for adequately handling a more significant volume of garbage and satisfying the need for encouraging recycling.
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