The global e-scrap recycling market is on an upward trajectory, projected to grow from $8,619.33 million in 2023 to $13,944.51 million by 2028, driven by a compound annual growth rate (CAGR) of 10.10%.
The e-scrap recycling market is set to reach a staggering $23,602.96 million by 2033, propelled by a CAGR of 11.10% from 2028 onwards. One of the primary factors contributing to this robust growth is the increasing industrialization across various regions.
Rising Industrialization Drives Advances in E-Scrap Recycling
Industrialization has significantly impacted the e-scrap recycling industry by advancing recycling technologies, increasing processing capacities, and improving overall efficiency and cost-effectiveness. As nations ramp up their industrial output, the demand for efficient and sustainable e-waste management solutions has surged. For instance, India’s Index of Industrial Production (IIP) recorded a growth of 11.7% in October 2023, up from 5.1% in December 2022. Similarly, industrial production in the USA rose at an annual rate of 4.3% in the second quarter of 2024.
This industrial growth has led to the development of cutting-edge recycling infrastructure, which is crucial for managing the escalating volumes of electronic waste. Countries like Australia have also seen an increase in industrial production, further boosting the e-scrap recycling market.
Technological Innovations to Support Sustainability
In addition to industrialization, technological advancements are playing a pivotal role in transforming the e-scrap recycling landscape. Leading market players are focusing on developing innovative recycling techniques to enhance the recovery of valuable materials from e-waste. These advancements are not only improving material recovery rates but also promoting sustainability and reducing environmental impacts.
For example, ANDRITZ, an Austria-based technology group, introduced the ADuro G-1600S granulator in September 2022. This advanced shredder technology enables more sustainable recycling of e-scrap by offering higher lifetime wear protection and reduced downtimes, thus ensuring higher production rates.
E-Scrap Recycling Market Segmentation
The e-scrap recycling market is segmented by product, processed material, and application:
- By Product: The market is divided into IT and Telecom Equipment, Small Household Appliances, Large White Goods, Consumer Electronics, and Other Products.
- By Processed Material: The market includes segments like Metal, Glass, Plastic, and Other Processed Materials.
- By Application: The market is segmented into Dealing Materials and Recycling Materials.
These segments reflect the diverse range of e-waste types and recycling processes that are driving growth in the market.
Regional Insights and Future Outlook
Western Europe led the e-scrap recycling market in 2023, accounting for 30.21% of the total market value, followed by North America and Asia-Pacific. Looking ahead, the Asia-Pacific and Africa regions are expected to experience the fastest growth in the e-scrap recycling market, with projected CAGRs of 11.59% and 11.34% respectively.
As the global e-waste problem continues to escalate, the e-scrap recycling market is poised for significant expansion. The combination of increasing industrialization and ongoing technological innovations will be key drivers of this growth, offering more effective and sustainable solutions for managing electronic waste.
Where to Learn More
The E-Scrap Recycling Global Market Report 2024 by The Business Research Company offers a detailed analysis of e-scrap recycling market trends, highlighting key drivers, challenges, and competitive benchmarking of top players.
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