Electronics Recycling Market: By Source of E-Waste (Household Appliances, Consumer Electronics, Medical Equipment, Industrial Equipment, and Information Technology & Telecommunication Equipment), Material Type (Glass, Metals, Plastics, and Chemicals), Processing Type (Formal Recycling, and Informal Recycling), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) and Forecast to 2030

Electronics Recycling Market was valued at USD 42,134.2 million in 2023 and is projected to grow at a CAGR of 12.9% from 2024 to 2030. The global electronics recycling market is projected for significant growth due to the ever-increasing generation of electronic waste (e-waste) and growing environmental concerns along with environmental, economic, and technological factors. As reliance on electronics continues to climb, so does the generation of electronic waste (e-waste), creating a pressing need for responsible and sustainable management solutions. The primary driver is the ever-increasing volume of e-waste generated globally. The rapid obsolescence of electronic devices, coupled with an insatiable appetite for the latest gadgets, leads to a constant stream of discarded electronics. Factors like shorter product lifespans, design trends towards thinner and lighter devices, and the increasing adoption of mobile technology contribute significantly to this e-waste mountain. In addition, growing environmental awareness regarding the harmful effects of improper e-waste disposal is driving the market towards responsible recycling practices. E-waste contains hazardous materials like lead, mercury, and flame retardants, which can leach into the environment if not handled properly. Moreover, the extraction of raw materials for new electronics depletes natural resources. Recycling e-waste helps recover valuable materials like metals, plastics, and rare earth elements, reducing our reliance on virgin resources and promoting a circular economy. Furthermore, consumers are becoming increasingly aware of the environmental impact of e-waste and are demanding responsible options for discarding their old electronics. This growing awareness fosters a sense of producer responsibility, pushing manufacturers to design more sustainable products and take back programs for end-of-life electronics. However, informal recycling in developing countries often involves hazardous and environmentally harmful practices. Addressing these practices through education, infrastructure development, and stricter regulations is crucial.

Recent Market Developments:

• In April 2022, the companies in e-waste management, ERI, partnered with Call2Recycle and Cellblock FCS to form One Drum, an innovative battery collection solution. With One Drum, users may transport large quantities of consumer disposable and rechargeable batteries in a single container of their choice, doing away with the need to bag the battery terminals individually or classify the batteries by chemistry.
• In February 2022, A purchase agreement was bang by SK Eco plant, a South Korean construction company, and TES, an e-waste and IT Asset Disposal (ITAD) company. A 100% stake in TES was purchased by SK Eco plant for about $1 billion USD.
• In May 2019, Aurubis AG acquired Metallo Group, a reprocessing and refining company based in Belgium. Aurubis AG’s recycling portfolio is predicted to be expanded following its acquisition. Aurubis AG’s recycling strategy will be enhanced by the Metallo Group’s innovative technical solutions.