E-Waste Recycling Market Size Worth $130.84 Billion by 2033; Rising Concerns for Sustainability & Environmental Conservation to Propel Growth

The global E-waste recycling market size is anticipated to grow from USD 25 billion to USD 130.84 billion in 10 years. The market will experience rapid growth due to the supportive regulatory framework during the forecast period.

Newark, May 21, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 25 billion in 2023 global E-waste recycling market will reach USD 130.84 billion in 2033. E-waste is the term used to describe electronic waste. It includes abandoned electronic items, such as computers and smartphones, as well as home appliances. E-waste recycling is the appropriate disposal and processing of these gadgets to recover valuable materials and reduce their negative environmental effects. E-waste is collected from various sources, such as homes, companies, and electronic manufacturers, to start recycling. After being collected, e-waste is classified according to its type and condition before disassembling. Following disassembly, precious materials are recovered using shredding, sorting, and melting techniques. These materials include metals (gold, silver, and copper), plastics, and glass. After that, these materials are transferred for additional processing so they can be used to make new items. E-waste recycling, done correctly, reduces pollution, preserves natural resources, and keeps dangerous materials out of the environment. Recycling e-waste helps preserve resources by lowering the need for virgin materials to make gadgets. Recovering precious metals and other parts from abandoned gadgets lowers the energy used in mining and manufacturing while also contributing to preserving natural resources.

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Scope of Global E-waste Recycling Market

Report CoverageDetails
CAGR        18% from 2024 to 2033
Market Size in 2023USD 25 Billion
Market Size by 2033USD 130.84 Billion
Largest MarketEurope 
Base Year2023
Forecast Year2024 to 2033
Historical Year2020-2022
Segments CoveredMaterial, Source, Regions
Regions Covered        North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Key Insight of the Global E-waste Recycling Market

Europe will dominate the Market during the forecast period.

One of the main pieces of EU legislation, the Waste Electrical and Electronic Equipment (WEEE) Directive, requires that e-waste be collected, treated, recycled, and recovered properly. EPR guidelines force producers and manufacturers to handle e-waste, encouraging spending on recycling infrastructure. Complementing the extensive network of collection locations and recycling facilities across Europe, retailers are responsible for accepting old appliances and convenient take-back programmes. Increased participation rates and better e-waste segregation at the source are the outcomes of public awareness campaigns informing the public about the value of recycling and the effects of electronic waste on the environment. Furthermore, Europe is committed to implementing a circular economy to reduce waste output, which emphasizes resource reuse, repair, and recycling. Recycling of e-waste is essential to this plan.

In 2023, the metals and chemicals segment dominated the Market, with a 39% market share and revenue of 9.75 billion.

The material segment is divided into metals and chemicals, plastic, and glass. In 2023, the metals and chemicals segment dominated the Market with a 39% market share and revenue of 9.75 billion.

In 2023, the household appliances segment dominated the Market with the largest market share of 45% and revenue of 11.25 billion.

The source segment is divided into household appliances, entertainment and consumer electronics, IT and telecom, medical equipment, and others. In 2023, the household appliances segment dominated the Market with a 45% market share and revenue of 11.25 billion.

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Advancement in Market

To address the urgent e-waste problem in India, the Technology Development Board (TDB) formed a significant relationship with startup Remine India. The joint venture aims to build a cutting-edge commercial facility in Uttarakhand that will recycle lithium-ion batteries and electronic garbage, or "e-waste." The Ministry of Science and Technology reports that TDB has allocated Rs 75 million towards the Rs 150 million project, providing significant financial support for this undertaking.

Market Dynamics

Driver: The rising use of electronics and the corresponding increase in e-waste.

Electronic devices become outdated and undergo repeated upgrades due to the constant cycle of invention and product development driven by technological advancement. The amount of e-waste produced is increased due to users being encouraged to replace outdated technology with newer products through planned obsolescence. In addition, the tendency is further supported by the declining cost of technology and the growth of the throwaway consumer culture. The demand for electronics is also fueled by the widespread use of electronic gadgets, especially in developing nations that are going through fast economic and urbanisation growth. The rate at which electronic devices are replaced increases as more individuals access them due to rising earnings and improved technological infrastructure. The expansion of internet-connected gadgets and the digitization of numerous businesses also fuel consumption, reducing the lifespan of electronic devices. These elements work together to generate a significant and rising demand for recycling e-waste. Thus, rising electronics use and corresponding increases in e-waste will fuel the expansion of the worldwide e-waste recycling market.

Restraints: The high upfront investment costs.

Infrastructure for recycling e-waste must be established and maintained, requiring a substantial initial investment in buildings, machinery, and transportation systems. Recycling businesses incur additional financial burdens from ongoing operational costs, such as labour, energy, and maintenance expenditures. Consequently, the financial difficulties in starting, operating, and sustaining an e-waste recycling business impede the sector's expansion.

Opportunities: supportive regulatory framework.

Regulations push producers to be responsible for managing and disposing of their products. This promotes eco-design strategies that prioritise recycling, which in turn drives the creation of simpler electronics to dismantle, fix, and recycle. Laws prohibiting the export or landfilling of e-waste encourage the development of domestic recycling facilities and using environmentally friendly disposal techniques. E-waste recycling projects are further supported by financial incentives and subsidies, which fund the construction of recycling facilities and the investigation of cutting-edge recycling technologies. Programmes for raising awareness and educating the public about the value of managing e-waste responsibly inspire people and companies to take part in recycling initiatives and make wise decisions about the use and disposal of electronics. Circular economy programmes promote a comprehensive response to e-waste. Campaigns for the circular economy encourage an all-encompassing strategy for managing e-waste. Therefore, throughout the projected period, the market's expansion will be supported by the strict legal framework that supports the recycling of e-waste.

Challenges: Lack of infrastructure

a lack of recycling facilities, limited collection infrastructure, logistical complexities in transportation, inadequate storage and handling capabilities, and regulatory compliance issues are significant factors challenging the Market's growth. The scarcity of recycling facilities hampers the proper disposal and processing of electronic waste. Insufficient collection infrastructure further exacerbates the problem by impeding the efficient gathering of e-waste from various sources. Additionally, logistical challenges in transportation, such as poor connectivity and long distances between collection points and recycling facilities, increase costs and delay processing times. Inadequate storage facilities and insufficient training can compromise safety and regulatory compliance in handling hazardous materials. Therefore, the lack of infrastructure will challenge the Market's growth.

Some of the major players operating in the global E-waste recycling market are:

• Capital Environment Holdings Limited
• Electronic Recyclers International
• Enviro-Hub Holdings Ltd.
• MRI Technologies
• SembCorp Industries
• TES Amm
• Tetronics Technologies Limited
• Umicore
• Veolia
• WM Intellectual Property Holdings, LLC

Key Segments Covered in the Market:

By Material

• Metals and Chemicals
• Plastic
• Glass

By Source

• Household Appliances
• Entertainment and Consumer Electronics
• IT and Telecom
• Medical Equipment
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The Market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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