[Research Report] The E-scrap Recycling market is projected to reach US$ 8,199.04 million by 2028 from US$ 3,222.13 million in 2021; it is expected to grow at a CAGR of 14.3% during 2021–2028.
An expected life cycle of any electronic product is the duration entailing its introduction, maturity in demand, and disposal or recycling phases. These products reach the recycling stage due to the end of their functional life, upgrades in associated technologies, and changes in consumer demands. With technological innovations, new products with updated features and additional service back-up replace the products enabled with older technologies, which results in the generation of massive e-waste volumes. Mobile devices, televisions, and computer devices are among the fast-growing electronic segments that undergo frequent upgrades. There is a continuous increase in the sales of these electronics with a surge in purchasing power with the rise in disposable income of people. The life expectancy of these gadgets has been lowered to ~3–4 years; as a result, the volume of e-waste produced is rapidly increasing, compelling e-waste recycling industry players to establish a more accessible e-waste collection and processing network in the E-scrap recycling market. The continued sale of electronic items, particularly in emerging markets, will present a lucrative environment for e-waste management in the coming years. For instance, in the smartphone industry, the manufacturers are continuously upgrading their models year-on-year, which is leading the customers to scrap their existing models, resulting in increase in e-scrap volume. This parameter is positively impacting the growth of the e-scrap recycling market.
In addition, the household appliance manufacturers are also introducing newer models to attract customers. The new product launches are leading to scrap the existing household appliances, which is benefitting the e-scrap recycling market players. This is again catalyzing e-scrap recycling market. Further, as the technological advancements are taking place rapidly across the globe, the manufacturers of consumer electronics or household appliances with limited lifecycle. This helps the manufacturers to enable the customers to upgrade their technologies over a time period, resulting in increase in volume of electronic scrapyard, which is ultimately driving the e-scrap recycling market.
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E-scrap Recycling Market: Strategic Insights
Market Size Value in US$ 3,222.13 million in 2021 Market Size Value by US$ 8199.04 Mn by 2028 Growth rate CAGR of 14.3% from 2021 to 2028 Forecast Period 2021- 2028 Base Year 2021
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– E-scrap Recycling Market
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E-scrap Recycling Market: Strategic Insights
| Market Size Value in | US$ 3,222.13 million in 2021 |
| Market Size Value by | US$ 8199.04 Mn by 2028 |
| Growth rate | CAGR of 14.3% from 2021 to 2028 |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on E-scrap Recycling Market
Europe is a key manufacturing and industrial hub for several sectors, such as healthcare, aviation, manufacturing, automotive, and energy & power. Due to COVID-19, many businesses in this region faced financial challenges as their activities were substantially reduced due to a lack of workforce, government-imposed restrictions, and decreasing sales. COVID-19 boosted the use of gaming consoles, mobile phones, electric ovens, and laptops, resulting in a rise of 0.3 Mt in electronic and electrical equipment consumption and, consequently, e-waste generation. Primarily, high-income countries are to blame for this rise.
As a result of the increased usage of consumer electronics, the pandemic is expected to support the e-scrap recycling market over the next few years.
Lucrative Regions for E-scrap Recycling Market
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Market Insights – E-scrap Recycling Market
The limited availability of rare metals, combined with their ever-increasing demand, has resulted in a rapid rise in their costs. Silver, gold, palladium, platinum, indium, and gallium are among the unique and precious metals found in e-waste. These rare elements are frequently employed in consumer electronics and IT and communication systems. Procuring such metals from e-waste and reusing them for another process is a Industrial major stream of revenue for players in the metals and other associated industries. For example, ~250 kg of silver, 24 kg of gold, may be recovered from one million mobile phone garbage. This would also benefit manufacturers by allowing them to build electrical gadgets at lower costs and gain a cost advantage over their competitors in the E-scrap recycling market.
The increasing demand for recycled metals is highlighting the need for reuse, refurbishment, and recycling of metal-based gadgets. This would also benefit countries in terms of reducing greenhouse gas emissions, which would assist in mitigating the threat of global warming. This is because, the carbon footprint of electronics, including smartphones, is about 3.7% of global greenhouse emissions, around 14 ounces of carbon dioxide per person each year. Electronic equipment tends to become outmoded or require repair from time to time, which is a crucial contributor to e-waste generation. Replacing an electronic gadget is less expensive than having it fixed. As a result, there has been an increasing trend toward purchasing new products rather than repairing old ones. This necessitates the creation of an extensive network of collection zones for that electronic garbage that needs to be reused, refurbished, and recycled in the E-scrap recycling market.
Product Type-Based Insights
Based on product type, the e-scrap recycling market is segmented IT & telecom equipment, small household appliances, large white goods, consumer electronics, and others. The large white goods segments accounted for the largest share in the global e-scrap recycling market in 2020. The growth in the E-scrap recycling market is attributed by the increase in adoption of appliances such as refrigerators, freezers, washing machines, tumble driers, dishwashers, and air conditioners across households of both developed and developing countries. The consumer electronics segment on the other hand is expected to grow with the highest CAGR over the forecast period.
The global e-scrap recycling market is segmented based on product type and processed material, and geography. Based on product type, the e-scrap recycling market is segmented IT & telecom equipment, small household appliances, large white goods, consumer electronics, and others. Based on processed material, the e-scrap recycling market is segmented metal, glass, plastic, and others. Based on geography, the global e-scrap recycling market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). Aurubis AG, Umicore, Boliden Group, Stena Metall AB, and Tetronics Environmental Waste Treatment, are among the top five market players operating in the global e-scrap recycling market.
Players operating in the E-scrap Recycling market are mainly focused on the development of advanced and efficient products.
- In 2022, Quantum Lifecycle Partners LP, Canada's leading I.T. Asset Disposition (ITAD) and Electronics Recycling service provider, has announced the acquisitions of REfficient and TechReset. Efficient specializes in reusing telecom equipment and serves customers in Canada and 14 countries. TechReset, on the other hand, is an ITAD firm with a significant presence in Canada and the United States.
- In 2022, Stena Recycling GmbH's German refrigerator recycling business is being sold as part of the Group's strategic assessment. Stena Recycling's activities in Germany will focus on expansion in the collecting, processing, and recycling of batteries in the future.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Processed Material Type Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Kingdom, United States
Frequently Asked Questions
New technology, such as microscopic piping, is currently being employed to improve mineral extraction. The pipe in a microfluidic device is less than a millimeter in diameter. Moreover, the recycling companies can continuously, automatically, and swiftly examine diverse combinations of characteristics by integrating analysis methods (X-rays, infrared, and sensors). This would simplify their recycling process and would help them to increase the volume of recycling, which would ultimately drive their businesses as well as the e-scrap recycling market.
The APAC e-scrap recycling market is expected to grow at the highest CAGR over the forecast period of 2021-2028. Over the years, the region has experienced huge growth in the uptake rate of consumer electronics and small and large home appliances. The growing disposal income of the population and frequent product innovation by consumer electronics manufacturers contribute to the high adoption and regular up-gradation of electronics, leading to a massive increase in the volume of e-waste generated by the region annually.
Mobile devices, televisions, and computer devices are among the fast-growing electronic segments that undergo frequent upgrades. There is a continuous increase in the sales of these electronics with a surge in purchasing power with the rise in disposable income of people. The life expectancy of these gadgets has been lowered to ~3-4 years; as a result, the volume of e-waste produced is rapidly increasing, compelling e-waste recycling industry players to establish a more accessible e-waste collection and processing network. The continued sale of electronic items, particularly in emerging markets, will present a lucrative environment for e-waste management in the coming years. For instance, in the smartphone industry, the manufacturers are continuously upgrading their models year-on-year, which is leading the customers to scrap their existing models, resulting in increase in e-scrap volume. This parameter is positively impacting the growth of the e-scrap recycling market.
Based on product type, the e-scrap recycling market is segmented IT & telecom equipment, small household appliances, large white goods, consumer electronics, and others. The large white goods segments accounted for the largest share in the global e-scrap recycling market in 2020. The growth is attributed by the increase in adoption of appliances such as refrigerators, freezers, washing machines, tumble driers, dishwashers, and air conditioners across households of both developed and developing countries. The consumer electronics segment on the other hand is expected to grow with the highest CAGR over the forecast period.
Asia Pacific countries have launched several programs to achieve the environmentally sound management (ESM) of e-waste. However, various challenges hamper the success and effectiveness of these programs. A lack of infrastructure and financial resources are the major challenges faced by Asia Pacific countries while complying with the requirements stated under such programs. Identifying relevant players and encouraging cooperation are the keys to addressing these difficulties. Collecting, sorting and disassembly, and end-processing are the three stages of e-waste recycling. These procedures are conducted by informal garbage recycling businesses in Asia Pacific countries, lacking expertise and professional treatment. The formal e-waste recycling sector is severely limited in these countries. The informal sector could handle the first two steps of e-waste recycling with minimal environmental and health consequences. However, if it performs the end-processing, it could significantly degrade the surrounding environment.
The widespread use of electronic products and appliances in the consumer sector has necessitated the efficient disposal of these gadgets. Rigorous rules governing safe disposal and e-scrap recycling management are driving the e-scrap recycling market. Precious metals, such as silver, gold, palladium, platinum, indium, and gallium, are found in e-waste. These unique elements are regularly used for manufacturing consumer gadgets and IT and communication systems. The prices of these metals are high, owing to their scarcity. This has increased the demand for metal-based devices that can be reused, reconditioned, or recycled. This also aids countries in reducing greenhouse gas emissions and limiting global warming's consequences.
The List of Companies - E-scrap Recycling Market
- DOWA HOLDINGS CO., LTD
- Ecoreco ltd
- Electronic Recyclers International, Inc
- Enviro-Hub Holdings Ltd
- JX Nippon Mining & Metals Corporation
- Sims Metal Management Ltd
- Stena Metall Ab
- Tetronics
- Umicore
- Quantum Lifecycle Partners
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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