Press release
What is the Predicted Growth Rate for the Global Electronics Recycling Market
Electronics Recycling Market
Electronic equipment, by definition, becomes obsolete or needs repair from time to time. It is cheaper to replace an electrical gadget than to repair it. As a result, customers are more likely to purchase new products rather than repair existing ones. This higher rate of obsolescence is now generating a significant amount of e-waste.
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Key Takeaways from Market Study
By 2023, the global electronics recycling market is expected to be worth $35 billion.
During the forecast period (2023-2033), global demand for electronics recycling is expected to grow at a 13.1% CAGR.
The market is expected to be valued at US$ 120 billion by 2033.
The Asia Pacific market is expected to grow at an 8.5% CAGR from 2023 to 2033.
Consumer electronics accounted for 40% of the global market in 2022.
Competitive Landscape
The global market for electronics recycling is moderately consolidated and competitive, with both regional and multinational competitors. Key participants in the electronics recycling market are focusing on new developments to improve their positions. Furthermore, new start-ups are entering the market with unique products, which is projected to increase competition in the next years.
EnviroLeach Technologies, a Canadian start-up, developed an environmentally friendly recycling method for old printed circuit boards. The start-up's method enables the efficient extraction of target metals including lead, copper, and aluminum from PCBs. EnviroLeach uses a hydrometallurgical extraction technique that reduces CO2 emissions.
Recy-Call, a Belgian startup, provides e-waste recycling solutions to African countries. The start-up recovers and recycles end-of-life gadgets like cellphones to generate value while also having a positive long-term environmental and social impact. Recy-Call's mining strategies also enable the creation of environmentally friendly and safe jobs for garbage collectors in low-income countries.
RECONO.ME, a British startup, collects, refurbishes, and recycles obsolete electronics and IT equipment. At the time of collecting, the startup uses sanitization software to remove all data from the devices. RECONO.ME sells reconditioned items to consumers at a discount, hence reducing e-waste in circulation.
In July 2022, ERI and Redrock Environmental Group joined with the County of Madera to recycle electronics and destroy cybersecurity-intensive gear. This agreement is intended to provide inhabitants of Madera County with an appropriate manner of disposing of unwanted consumer electronics.
Key Companies Profiled
Aurubis AG
Enviro-Hub Holdings Ltd
Boliden Group
Clean Earth, Inc
Dlubak Glass Company
Cerebra Integrated Technologies Ltd
Exitcom Recycling GmbH
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Key Segments of Electronics Recycling Industry Research
By Material :
Metals
Plastics
Other Materials
By Equipment Type :
Consumer Electronics
IT & Telecom
Other Equipment Types
By Region :
North America
Latin America
Europe
Asia Pacific & China
Middle East & Africa
Regional Analysis
Asia Pacific dominates the global market. Japan and South Korea are supporting market development in Asia Pacific. Europe and North America are trailing Asia Pacific in terms of economic growth. The United Kingdom and Germany are contributing significantly to the European market.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global electronics recycling market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market on the basis of material (metals, plastics, other materials) and equipment type (consumer electronics, IT & telecom, other equipment types), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
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