PUNE, India, Dec. 22, 2020 (GLOBE NEWSWIRE) -- The Global E-scrap Recycling Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global E-Scarp Recycling Market was worth 50 million metric tons in 2019 and is expected to witness a CAGR of 3.1% through 2030. Rapid urbanization fueled by industrialization has accelerated the adoption of advanced technologies across wide range of industrial processes globally. Electronic devices have become an integral part of consumer and industrial applications owing to the ease of execution offered by these products. Increased investment in development of advanced electronic products has led to intense competition in designing, development and manufacturing of efficient electronic devices. This has provided the consumers with wide range of electronic devices to choose from to meet individual requirements. Additionally, increased disposable income has contributed towards the growth of electronic devices per capita across major parts of the world. With continuous technology development in electronic devices and adoption of advanced or next generation devices, the e-waste or e-scrap has increased significantly. This has fueled the growth of e-scrap recycling industry to tackle the rising environment concerns and efficiently manage the rising electronic waste. Proliferation of IoT and integration of technology updates to existing devices is anticipated to generate high volume of e-scrap in coming years, thereby fueling the growth of the global e-scrap recycling market.
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High penetration of plastic in electronic devices and increasing e-waste to drive the growth of plastic e-scrap recycling
The global e-scrap recycling market is segmented based on material, source, and geography. Based on material, the global e-scrap recycling market is segmented into metal, plastic, glass, others. The metal segment is further sub-segmented into copper, steel, aluminum, and others. The metal e-scrap segment held the largest share of the global e-scrap recycling market in 2019 owing to presence of metals across majority electronic devices such as PCBs, smartphones, metal solders and so on. The plastic e-scrap recycling is anticipated to witness significant growth during the forecast owing to high penetration of plastic across wide range of consumer and industrial electronic devices.
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Increasing quantum of electronic device waste from consumer sectors to drive the growth of e-scrap recycling market
Based on source, the global e-scrap recycling market is segmented into industrial electronics, consumer electronics, and others. The industrial electronics segment is sub-segmented into IT & telecommunication equipment (datacenters, networking cards/equipment, digital boards, others), medical equipment (monitoring and control equipment, and others), and others. Similarly, the consumer electronics segment in sub-segmented into home appliances (refrigerator, television, and others), portable electronic devices (smartphones, tablets, wearables, and others), IT accessories & equipment (keyboards, USD memory sticks, laptops, netbooks, and others), PCBs and others. The consumer electronic segment contributed the largest share to the global e-scrap recycling market owing to increased number of electronic wastes generated from consumer segment across the globe. Industrial electronic segment is expected to grow significantly during the forecast period owing to rising adoption of advanced computing devices and process control devices as a replacement to aged devices.
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Based on geography, the global e-scrap recycling market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific contributed a dominating share to the global e-scrap recycling market in 2019 and is estimated to be a dominating geography during the forecast period. Increased disposable, proliferation of electronic device manufacturing across Asia countries, and rising import of e-waste form major countries across the globe for recycling are the key attributes driving the growth of the Asia Pacific e-scrap recycling market. North America contributed a prominent share to the global e-scrap recycling market and is expected to grow at a steady rate during the forecast period.
Major players active in the global e-scrap recycling market include Desco Electronic Recyclers, Electronic Recyclers International, Inc., Electronic Waste Management, Enviro-Hub Holdings Ltd., E-waste Harvesters, Inc., E-waste Systems, Inc., MRI (Australia) Pty Ltd., Sims Recycling Ltd., Tetronics (International) Limited, Umicore S.A., and Waste Management, Inc.
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