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The electronic waste recycling market size is estimated to grow at a CAGR of 15.67% between 2022 and 2027. The market size is forecast to increase by USD 16,004.9 million. The growth of the market depends on several factors, such as stringent government regulations for e-waste management, an increase in industrial activities globally, and a growing focus on the adoption of circular economy initiatives.
This report extensively covers market segmentation by material (metals and chemicals, plastic, and glass), source (household appliances, entertainment, consumer electronics, IT and telecom, medical equipment, and others), and geography ( Europe, APAC, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
E-waste Recycling Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
There has been an increase in demand for consumer electronics and automobiles across the world due to the increase in consumer spending. Additionally, there has been significant growth in the automotive sector in Southeast Asia due to the rise in manufacturing and production activities over the years.
Thus, the increase in demand from consumers has fuelled the production and sales of consumer electronics. As a result, it has led to the generation of more e-waste. Thus there is an increase in demand for e-waste management across end-user industries which is positively impacting the electronic waste recycling market. Hence, such factors are expected to drive market growth during the forecast period.
In order to improve e-waste recycling, several associations and private organizations across the world are arranging various programs and conferences. For example, in October 2021, Swiss Vault, a consortium for Zero Waste Data storage systems, carried out a program in support of the European Commission's GHG program. The team leveraged nanosensor technology to design data storage hardware in order to enhance the recycling and recovery of valuable metals and materials.
Additionally, in April 2023, SERI announced its partnership with the 2023 E-Waste World Conference. The institute offers its expertise to facilitate the shift from a traditional e-waste recycling agenda to a whole-lifecycle approach to avoid waste generation. Thus, such developments are positively impacting the electronic waste recycling market. Hence, such factors are expected to drive market growth during the forecast period.
There are serious health risks that can be caused due to improper waste disposal. For instance, the utilization of processes like open-air burning and acid baths to recover valuable materials from electronic components makes workers prone to harmful substances. Additionally, there are also increasing chances of toxic materials leaching into the groundwater.
Thus, such kinds of practices can make workers vulnerable to high levels of contaminants, including lead, mercury, cadmium, and arsenic, resulting in irreversible health effects, such as cancer, miscarriages, neurological damage, and retarded development in children. Thus, it is expected to negatively impact the e-waste recycling market. Hence, such factors are expected to hinder market growth during the forecast period.
The metals and chemicals segment is estimated to witness significant growth during the forecast period. Factors such as the increasing need to recover different metals and chemical materials during the e-waste recycling process are significantly contributing to the growth of this segment. Some of the types of toxic metals and chemicals which are in e-waste include lead, cadmium, mercury, and nickel, and organic compounds, such as flame retardants, chlorofluorocarbons, polycyclic aromatic hydrocarbons, polybrominated diphenyl ethers, polychlorinated dibenzo-p-dioxins, and furans.
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The metals and chemicals segment was the largest segment and was valued at USD 2,763.03 million in 2017. The increasing focus on the adoption of circular economy concepts and making e-waste recycling more efficient both in developed and developing countries are fuelling the growth of this segment. Additionally, the production of electronic and electrical equipment highly relies on raw materials such as iron, copper, silver, gold, aluminum, and manganese, among others. Additionally, the rate of extraction of such types of materials for producing consumer electronics, appliances, and other electronic devices is higher than their availability in nature. Thus, the availability of such materials is expected to be fuelled by e-waste collection and management. Hence, such factors are expected to fuel the growth of this segment which, in turn, will drive the market growth during the forecast period.
Source Segment Analysis:
Based on the source, the segment is classified into household appliances, entertainment, and consumer electronics, IT and telecom, medical equipment, and others. Factors such as the increasing adoption of household appliances, shorter lifecycles, and limited options for repair are fuelling the growth of this segment. Some of the key appliances which produce most e-waste include refrigeration appliances, air conditioners, and washing machines. Hence, the increasing use of air conditioners and refrigerators is fuelling the need for recycling such appliances due to their shorter lifecycles and limited repair options. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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Europe is estimated to contribute 43% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Some of the key countries which have significantly contributed to the growth of the global e-waste recycling market in Europe include Germany, the UK, France, and Russia, among others as these countries produce huge volumes of e-waste due to large-scale consumption of consumer electronics, household appliances, and medical equipment, among others.
Additionally, there are several regulations enforced by the government authorities for the management of e-waste. For example, the EU Waste from Electrical and Electronic Equipment (WEEE) Directive mandates safe and responsible collection, recycling, and recovery procedures for all types of e-waste. Furthermore, there is an increasing focus on e-waste management in the Circular Economy Action Plan, promoting the sustainable utilization of resources by both European businesses and consumers. This has led to the launch of several initiatives to ensure efficient waste management in the region. Hence, such factors are expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global e-waste recycling market witnessed a significant slowdown due to the disruption in the supply chain in terms of e-waste management in Europe. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the reopening of business activities and increasing demand for consumer electronics. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aurubis AG: The company offers e-waste recycling for electronic devices, recovering copper and precious metals from the delivered electrical and electronic scrap with environmentally sound methods.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
ALBA Group Plc and Co. KG, Boliden AB, E Parisaraa Pvt. Ltd., Egyptian Electronics Recycling Co., Electrocycling GmbH, Enviro Hub Holdings Ltd., Global Ewaste Solutions, Good Point Recycling, Kuusakoski Oy, MBA Polymers Inc., Sembcorp Industries Ltd., Sims Ltd., Stena Metall Group, TES Singapore Pte Ltd., Tetronics, Umicore SA, Veolia Environnement SA, Waste Management Inc., and Electronic Recyclers International Inc.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The e-waste recycling market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
E-waste Recycling Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.67% |
Market growth 2023-2027 |
USD 16,004.9 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
14.41 |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
Europe at 43% |
Key countries |
US, China, Japan, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ALBA Group Plc and Co. KG, Aurubis AG, Boliden AB, E Parisaraa Pvt. Ltd., Egyptian Electronics Recycling Co., Electrocycling GmbH, Enviro Hub Holdings Ltd., Global Ewaste Solutions, Good Point Recycling, Kuusakoski Oy, MBA Polymers Inc., Sembcorp Industries Ltd., Sims Ltd., Stena Metall Group, TES Singapore Pte Ltd., Tetronics, Umicore SA, Veolia Environnement SA, Waste Management Inc., and Electronic Recyclers International Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by Source
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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