Global E-waste Recycling Market Insights and Forecast to 2028

E-Waste Recycling Market Statistics 2028
The global E-waste Recycling market size is estimated to be worth US$ 17260 million in 2022 and is projected to reach US$ 27240 million by 2028 with a CAGR of 7.9% during the review period. Key drivers of the e-waste recycling market include the growing consumption of electronic goods worldwide leading to a faster obsolescence rate. The ban on improper disposal of e-waste by government authorities due to environmental hazards will propel the growth of the e-waste recycling market during the forecast period. Metals such as gold, palladium, gallium, silver, and indium have augmented the need for metal-based gadget recycling for reduced costs and less greenhouse gas emissions. This will further boost the market growth in the coming years.

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E-Waste Recycling Market Trends
Rapid consumption of electronic products

The demand for consumer electronics like TV, refrigerators, air conditioners, washing machines, mobiles, laptops, computers, etc has skyrocketed in the last few years. The rapid urbanization, rising income levels, and e-commerce boom have increased the consumption of electronic gadgets tremendously. This is creating huge heaps of e-wastes as newer and better devices replace the existing ones. Electronic items have a lesser shelf life and become obsolete quickly with revamped versions being available easily. These factors are expected to propel the growth of the e-waste recycling market during the forecast period.

Government ban on improper disposal of e-waste

A major portion of e-waste generated worldwide ends up in landfills or incinerators. This puts vulnerable and poor workers at risk of exposure to harmful carcinogenic substances such as lead, mercury, etc. Harmful chemicals from the gadgets get mixed up into the soil and groundwater polluting our food supply systems. Hence government authorities and other related stakeholders are enacting legislation and bans on improper disposal of electronic wastes. This will create lucrative opportunities for recycling manufacturers thereby driving the growth of the e-waste recycling market in the coming years.

Extraction of precious metals from recycling centers

Metals such as gold, silver, palladium, indium, copper are scarce and have high costs. They are found in e-waste materials and are the basic raw materials in IT, communication, and electronic appliances. The metals in e-waste are collected, dismantled, and segregated from hazardous materials. The precious minerals are extracted and reused in electronic items. This reduces the costs for electronic manufacturers and also leads to a reduction in greenhouse gases. This will increase the demand for recycling centers thereby driving the growth of the e-waste recycling market during the forecast period.

E-Waste Recycling Market Share Analysis
Based on type, home appliances are expected to dominate in the e-waste recycling market share during the forecast period with 55%.

Based on region, Europe is expected to grow the highest with 30% in the e-waste recycling market share followed by China and North America with a total of 35%.

E-Waste Recycling Market By Type
Infocomm Technology (ICT) Equipment
Home Appliances
Other Types
E-Waste Recycling Market By Application
Refrigerator
TV Set
Air Conditioner
Washing Machine

SIMILAR REPORT

https://reports.valuates.com/market-reports/ALLI-Auto-1Z4/e-waste-management

https://reports.valuates.com/market-reports/QYRE-Auto-17V8881/global-e-waste-recycling-and-reuse-services

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