Major Force in the Circular Economy Market 2025: Rising Electronic Waste Drives Expansion Of The Circular Economy Market

How Will the Circular Economy Market Grow, and What Is the Projected Market Size?
The size of the circular economy market has experienced a swift expansion in the past few years. Its growth is projected to increase from $463.07 billion in 2024 to $517.79 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.8%. The surge in growth during the historic period can be credited to the rise in urban mining, increased corporate social responsibility, the proliferation of e-commerce, the advent of circular business models, and the development of smart cities.

The market size for the circular economy is anticipated to experience a significant surge in the upcoming years. The value is predicted to reach $798.3 billion in 2029, with an impressive compound annual growth rate (CAGR) of 11.4%. The reasons for this growth in the predicted period include the expanding pressure on landfills and waste management, a growing worldwide population, the emergence of e-commerce, the proliferation of digital resale platforms, an escalating need for supply chain resilience, increased focus on research and development, and heightened environmental concerns. Key trends to look out for during this period include advances in technology, recycling technology, digital tech, eco-design, and the use of blockchain for traceability.

What Key Elements Are Boosting Growth in the Circular Economy Market?
The increased quantity of discarded electronic items is predicted to stimulate the expansion of the circular economy market in the future. Electronic junk, also known as e-waste, encompasses undesired or end-of-life electrical or electronic devices such as personal computers, mobile phones, and home appliances. The escalating amount of e-waste is linked to constant and quick product improvements, reduced gadget longevity, and heightened consumer interest in the most recent electronic gizmos. This results in more rapid obsolescence and discarding of obsolete devices. The quest to handle e-waste in a sustainable manner spurs innovative breakthroughs in recycling methods, inspires the creation of enduring and repairable products, triggers novel business concepts, and instigates regulatory and customer-led transformations. Altogether, these elements aid in propelling the circular economy by generating options and advances in e-waste handling and resource recovery. For instance, a report by the International Telecommunication Union, a digital technology specialty organization based in Switzerland, revealed in March 2024 that approximately 62 million metric tons of e-waste was produced in 2022. Since e-waste creation increases by 2.6 million metric tons per year, it is anticipated to amount to 82 million metric tons by 2030, signifying a 33% increase compared to 2022. Consequently, the mounting quantity of electronic trash is advancing the expansion of the circular economy market.

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Who Are the Major Industry Players Fueling Circular Economy Market Expansion?
Major companies operating in the circular economy market are Nestlé S.A., Braskem S.A., Sony Group Corporation, Unilever PLC, Panasonic Holdings Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Veolia Environnement S.A., Honeywell International Inc., Holcim Group, SAP SE, Adidas AG, H&M Hennes & Mauritz AB, Waste Management Inc., Remondis SE & Co. KG, Eastman Chemical Company, Assurant Inc., The Savola Group, Levi Strauss & Co., Hitachi Zosen Corporation, UL Solutions Inc., Renewi plc, Daiseki Co. Ltd., Ragn-Sells Group AB, Patagonia Inc., Sims Lifecycle Services, TerraCycle Inc., ECOR Global Inc., Cloverly Inc., Madewell

Who Are the Major Industry Players Fueling Market Expansion?
Top-tier corporations active within the circular economy market are prioritizing the creation of inventive products and solutions, primarily in recycling, to boost resource efficiency and sustainability. Recycling encompasses the gathering, handling, and transformation of waste materials into fresh products, ensuring potentially valuable materials aren't wasted. For example, Braskem S.A., a chemical and polymer firm based in Brazil, unveiled Wenew in October 2022. This new worldwide circular economy ecosystem will mark its polymers and chemical products that contain recycled components under the Wenew brand. Wenew exhibits technologies aiding Braskem's shift towards a circular economy, including sophisticated recycling techniques, and novel solutions for changing industrial procedures. Wenew epitomizes Braskem's dedication to sustainability, based on four central tenets, namely, products, education, technology, and circular design. This endeavor is directed towards propelling Braskem towards a more circular future, by joining forces with society and the production chain to construct an incrementally circular and ecologically sound world.

How Is the Segmentation of the Circular Economy Market Defined?
The circular economy market covered in this report is segmented -

1) By Type: Clothing And Textile Waste, Electronic Waste, Food Waste, Glass Waste, Plastic Waste, Wood Waste
2) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
3) By Industry Vertical: Manufacturing Industry, Consumer Goods, Waste Management And Recycling, Construction And Building Materials, Automotive And Transportation, Food And Agriculture, Other Industry Verticals

Subsegments:
1) By Clothing and Textile Waste: Recycled Textiles, Upcycled Clothing, Textile Waste For Insulation
2) By Electronic Waste: E-Waste Recycling, Refurbished Electronics, Component Recovery
3) By Food Waste: Composting Solutions, Anaerobic Digestion, Food Recovery Programs
4) By Glass Waste: Recycled Glass Products, Glass Bottles And Containers, Glass For Construction Materials
5) By Plastic Waste: Recycled Plastic Products, Biodegradable Plastics, Plastic Waste For Fuel Production
6) By Wood Waste: Reclaimed Wood Products, Wood Waste For Biomass Energy, Wood Recycling For Furniture And Flooring

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What Is the Leading Region in the Circular Economy Market?
Europe was the largest region in the circular economy market in 2024. The regions covered in the circular economy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Circular Economy Global Market Report?

- Market Size Analysis: Analyze the circular economy Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the circular economy market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall circular economy market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the circular economy market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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