Electronics Recycling Market

Electronics Recycling Market Outlook (2023 to 2033)

The global electronics recycling market is projected to expand at an impressive CAGR of 13.1% and touch a valuation of US$ 120 billion by 2033, up from US$ 35 billion in 2023.

The production of electronic devices has increased dramatically as technology has advanced. When electronic devices stop working and can no longer be fixed, they are discarded.

These devices are subsequently referred to as electronic waste or e-waste. The disposal of e-waste into the environment directly can be detrimental to both the environment and all living beings in the long term. As such, the recycling of such e-waste is strongly needed.

Electronic equipment and technologies are constantly improving and expanding in number. These technologies have become essential to people's lives and the rising economy. Nevertheless, with technological innovation comes the increased problem of protecting human health and the environment from the potentially harmful impacts of improper e-waste management and disposal.

For proper collection and disposal of e-waste, the government and different government-affiliated agencies have established strict rules and guidelines.

• For example, in 2016, the Indian government documented e-waste management rules that apply to every manufacturer, consumer, bulk consumer, collection center, e-retailer, refurbisher, dismantler, and recycler engaged in manufacture, sale, purchase, storage, transfer, collection, and processing of e-waste or electronic and electrical equipment.

Moreover, the amount of e-waste in developed and developing countries is growing at an astonishing rate each year. Improper recycling of this growing e-waste causes environmental and health risks. Furthermore, certain recyclable materials are wasted as a consequence of this since they are dumped as trash.

Several governments have started to take action, pushing electronic product manufacturers to develop internal e-waste management initiatives or to outsource these activities to third-party organizations.

Significant volumes of e-waste are generated throughout R&D and production operations, and businesses are taking the necessary steps to recover the right components from this rubbish. Moreover, numerous electronic item manufacturers are now aware of the financial advantages of processing and recycling e-waste. Mobile phones have valuable metals, such as silver, gold, and palladium, that can be recovered after recycling. Consequently, many of the world's leading mobile manufacturers have established their own programs to recover old phones from users looking to upgrade their technology.

Furthermore, the global market is expected to witness tremendous growth in the near future due to the use of artificial intelligence (AI) in electronics recycling. Waste management companies use sensors linked to the internet of things (IoT) to track the state of trash cans in the area.

Consequently, businesses can improve their waste collection timings, routes, and frequencies. Deep learning algorithms are used to analyze waste or new things detected by AI utilizing cameras. AI can detect subtle differences between items made of the same material and those made of different materials.

As a result of all of the factors, Fact.MR, a market research and competitive intelligence provider, predicts that global demand for electronics recycling will skyrocket over the next ten years.

Report Attributes	Details
Electronics Recycling Market Size in 2023	US$ 35 Billion
Projected Market Value (2033)	US$ 120 Billion
Global Market Growth Rate (2023 to 2033)	13.1% CAGR
Asia Pacific Market Growth Rate (2023 to 2033)	8.5%
Consumer Electronics Segment Share (2022)	40%
Key Companies Profiled	Aurubis AG; Enviro-Hub Holdings Ltd; Boliden Group; Clean Earth, Inc; Dlubak Glass Company; Cerebra Integrated Technologies Ltd; Exitcom Recycling GmbH

Why Has Electronics Recycling Become So Important?

“Decreasing Life Span of Electronic Devices”

Rapid technological improvement and frequent product innovations increase the sales of electronic items. Mobile devices, computer devices, and televisions, in particular, are witnessing rapid expansion around the world. With growing spending power and increasing disposable income, sales of such electronics are constantly rising. Furthermore, new product introductions with updated features and added services entice users to replace their old items with new products. This has shortened the device's life span to around 3 to 4 years.

As a result, e-waste is increasing at an alarming rate, prompting market participants to extend their operations and establish a broad network for e-waste collection and processing facilities.

In the coming years, the continued sales of electronic items, particularly in developing nations, will provide a suitable environment for e-waste management. Moreover, rapid technological breakthroughs and continual product improvements enable companies in the electronic industry to launch new items regularly, resulting in a decrease in the life of all white goods. Furthermore, as disposable income increases, customers can afford higher-priced electronic equipment, which stimulates demand for these items.

Which Factor Can Slow the Growth of the Electronic Waste Recycling Market?

“Inadequate E-waste Collection Facilities”

A shortage of e-waste collection facilities and costly processing procedures has caused challenges with electronics recycling. Due to the absence of such a system, many outmoded products are discarded or stored in storerooms or warehouses. The lack of waste collection zones impedes the present state of recycling programs. Customers are also unaware of these pickup zones, causing waste to be disposed of inconveniently, for example, by burning it in traditional techniques. This causes pollution and health problems.

Country-wise Insights

How are Japan & South Korea Assisting Asia Pacific's Dominance?

“High Sales of Electrical & Electronic Equipment”

Asia Pacific is leading the global market. The regional market is projected to expand at a CAGR of 8.5% during the forecast period. Sales of electronic equipment such as computers, mobile phones, and refrigerators have surged in the last ten years, resulting in a rise in the amount of electronic waste in the region. Furthermore, developed countries such as the United Kingdom and the United States export a considerable amount of e-waste to Asian countries, which is boosting the regional market.

Japan and South Korea are supporting regional market growth. The volume of e-waste is increasing in these countries due to rising electrical and electronic equipment sales. Electronic and electrical equipment account for a considerable portion of the total waste generated in Japan and South Korea. As a result, the demand for electronics recycling is growing in these countries.

What Makes the United Kingdom & Germany Lucrative Markets for Electronics Recycling?

“Rising Pollution and Limited Land for Waste Disposal”

The European market is expanding swiftly. Electronic waste, which comprises mobile phones, computers, and refrigerators, is one of the EU's rapidly growing waste streams. Due to the enormous growth in electrical and electronic equipment waste, a scarcity of important metals, and high mining prices, e-waste recycling is critical.

Europe has built severe environmental protection regulatory frameworks since it has the least amount of land available for landfills compared to other continents. All of these factors are driving the growth of the regional market.

Moreover, the United Kingdom and Germany have enacted stricter regulatory restrictions due to increasing pollution levels and limited land for waste disposal. As a result, the situation has improved due to attention being dedicated to managing this trash to prevent the illegal shipment of e-waste to developing countries.

What is the Growth Outlook for Electronics Recycling in the United States?

“Increasing Implementation of Domestic E-waste Recycling Initiatives”

Even though the United States is currently the world's leading exporter of e-waste, efforts are being made to expand domestic recycling facilities. The National Center for Electronics Recycling is a non-profit organization established in the United States dedicated to expanding the domestic e-waste recycling market.

The United States exported a significant amount of its e-waste in 2017, although this is changing as the country develops a domestic recycling sector. Implementing domestic e-waste recycling initiatives will minimize the amount of e-waste exported to developing countries while reducing the negative environmental and health implications linked with disposal in those countries.

Category-wise Insights

Why is Consumer Electronics the Leading Equipment Type?

“Extremely High Usage of Consumer Electronics”

Consumer electronics held 40% of the global market in 2022. These constitute a sizable portion of worldwide e-waste. The increased usage of consumer electronics and the influx of next-generation items ranging from smart TVs and smartphones to refrigerators and displays has resulted in massive amounts of e-waste.

As a result, extensive measures are required to deal with the enormous volume of e-waste. Certain nations mandate manufacturers and importers to recover electronic products for end-of-life management. Electronic waste can be sold for reuse or recycled by other industries.

• For example, consumers in Japan must deliver equipment such as air conditioners, smartphones, televisions, refrigerators, and washing machines to stores that will recycle them under the Home Appliances Recycling Law. These policies are assisting in the creation of a favorable environment for e-waste recycling.

Competitive Landscape

The global market for electronics recycling is reasonably consolidated and competitive, with the presence of regional and multinational players. Key players in the electronics recycling market are concentrating on new developments to strengthen their position. Furthermore, several start-ups are entering the market with innovative offerings, which is expected to intensify competition in the coming years.

• EnviroLeach Technologies, a Canadian start-up, creates EnviroLeach, an environmentally friendly recycling technique for discarded printed circuit boards (PCBs). The start-up's technology allows for the efficient extraction of target metals such as lead, copper, and aluminum from PCBs. EnviroLeach employs a hydrometallurgical extraction method that also minimizes CO2 emissions.
• Recy-Call, a Belgian start-up, offers e-waste recycling solutions to African countries. The start-up recovers and recycles end-of-life electronics such as smartphones to create value while maintaining a positive long-term environmental and social impact. Recy-Call's mining tactics also enable the creation of green and safe jobs for waste collectors in low-income countries.
• RECONO.ME, a British start-up, collects, refurbishes, and recycles used electronic gadgets and IT equipment. At the time of collection, the start-up utilizes sanitization software to delete all data from the devices. RECONO.ME sells these reconditioned items to consumers at a discounted price, helping to reduce e-waste in circulation.
• ERI, a prominent recycler of electronics and cybersecurity-intensive hardware destruction company, and Redrock Environmental Group partnered with the County of Madera in July 2022. This agreement is intended to give citizens of Madera County a proper means to discard unwanted consumer electronics.

Key Segments of Electronics Recycling Industry Research

• By Material:

  • Metals
  • Plastics
  • Other Materials

• By Equipment Type:

  • Consumer Electronics
  • IT & Telecom
  • Other Equipment Types

• By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific & China
  • Middle East & Africa