The electronic waste recycling is projected to grow USD 48.41 billion in 2024 and is projected to reach USD 66.33 billion by 2029, at a CAGR of 6.5%, in terms of value, from 2024 to 2029. During the forecast period, the global electronic waste recycling is expected to grow in the coming years, the demand for recovery of materials is on the rise due to its growing need for precious materials in various applications in numerous industries. The applications of these recovered materials are diverse and crucial in various industries including electronics, metal production, chemicals, oil & gas, medical & healthcare, and food & beverages. The market is also expected to benefit from technological advancements in electronic waste recycling processes.
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Based on Source, the electronic waste recycling market has been segmented into household appliances, consumer electronics, IT & Telecommunication, mobile computing devices, and other sources. The other sources include medical, industrial, and automotive electronics.
In terms of value the IT & Telecommunication segment held the largest market share in terms of value in 2023. The constant evolution of technology in the IT & Telecommunications sectors leads to frequent equipment upgrades. This results in substantial number of outdated devices, such as servers, routers, switches, and mobile phones, being discarded.
Based on materials, the electronic waste recycling market has been segmented into glass, metals, plastics, and other materials. The other materials include chemicals and composites.
Metals subsegment dominated the materials segment of electronics recycling market in 2023, owing to the high worth and price for extraction of precious metals, such as gold, palladium, tin, lead, and nickel from the electronic components.
Recovering metals from electronic waste helps mitigate environmental degradation associated with mining and processing raw materials. The recovery of metals aligns with the principles of circular economy, where materials are reused and recycled rather than discarded.
Based on technology, electronic waste recycling market has been segmented into electrostatic separation, pyrometallurgical process, hydrometallurgical process, lithium battery recycling, and other technologies. The other technologies include chemical recovery, shredding, and incineration.
In 2023, the lithium battery recycling dominated the technology segment of electronics recycling market in terms of value in 2023. The process significantly reduces environmental risks associated with improper disposal. Additionally recycling lithium batteries lowers manufacturing costs. Using recycled materials requires less energy compared to producing new materials from raw sources, leading to reduced carbon emissions and a smaller environmental footprint.
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Based on Region, North America accounted for the largest market share of the electronic waste recycling market due to the large volumes of electronic devices discarded from IT & Telecommunication, and household appliance sources. The leading electronic waste recyclers such as Dell Inc. (US), Quantum Lifecycle Partners (Canada), Call2Recycle, Inc. (US), and ERI (US) are working towards various innovative technologies to contribute towards regional market share. The demand for electronic waste recycling is rising in North America region due to stringent environmental regulations, government initiatives, and growing consumer awareness.
Major players operating in the electronic waste recycling include Dell Inc. (US), Umicore SA (Belgium), Quantum Lifecycle Partners (Canada), Enviro-Hub Holdings Ltd. (Singapore), Kuusakoski Oy (Finland), Stena Metall AB (Sweden), Call2Recycle Inc., (US), Aurubis AG (Germany), E-Parisara Pvt. Ltd. (India), ERI (US), Boliden Group (Sweden), Attero Recycling Pvt. Ltd. (India), Veolia (France), SIMS Ltd. (Australia), EERC (Egypt), African Trades Shading Company (South Africa), Ash Recyclers (India), Techwaste Recycling LLC (US), Tetronics Environmental Technology Company (UK), Ecoverva (India), Global EWaste Solutions (Canada), Greentek Solutions LLC (US), and Great Lakes Electronic Corporation (US), among others. [SS1] [GD2] These companies are active in North America,, Europe and Asia Pacific regions, tapping in the requirements of clients to recycle and comply with regulations in the region. These companies have well established market presence with robust business strategies. These companies are currently establishing their logistical channels in the regions they operate to increase the supply of electronic scraps, either through direct pick-up points or indirect method through established electronic retailers in those regions.
