E-scrap Recycling Global Market Report 2023
Major players in the e-scrap recycling market are JX Nippon Mining & Metals Corporation, Enviro-Hub Holdings Ltd., Umicore N.V, Tetronics Environmental Waste Treatment, Stena Metall AB, DOWA HOLDINGS Co, ERI and Sims Metal Management Limited, Boliden Group, Aurubis AG, Ecoreco Ltd.
New York, March 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "E-scrap Recycling Global Market Report 2023" - https://www.reportlinker.com/p06426373/?utm_source=GNW
, Electronic Recyclers International, MBA Polymers Inc., Grand Metal Corporation, Global Electric Electronic Processing Inc., and Quantum Lifecycle Partners.
The global e-scrap recycling market grew from $7.77 billion in 2022 to $8.71 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The e-scrap recycling market is expected to grow to $13.05 billion in 2027 at a CAGR of 10.6%.
The e-scrap recycling market includes revenues earned by entities by recycling various e-scrap and recover the resources (e.g., electric cookers and radios). E-scrap is short for electronic waste and it is the trash generated from broken, obsolete, and the surplus electronic devices. E-scrap recycling helps recover valuable materials from the electronic products that are either old or no longer used. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
E-scrap recycling refers to reprocessing and re-use of electronic wastes. It is a process that seeks to recover material from the electronic waste and in a way, user can use them in new electronic products.
Europe was the largest region in the e-scrap recycling market in 2022. The regions covered in the e-scrap recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The various products involved in e-scrap recycling are IT and telecom equipment, small household appliances, large white goods, consumer electronics, and others.IT and telecom equipment mean computer hardware, software, servers and ancillary equipment, telephones and other telecommunications products, office products such as photocopiers and fax machines, or other technology or equipment that is used in the creation, conversion, or duplication of data or information.
The different processed materials include metal, glass, plastic, and others that are used in several applications such as dealing materials, and recycling materials.
The growing usage of electronic products is expected to propel the e-scrap recycling market growth going forward.Electronic product means any manufactured product or device or part of such a product or device that has an electronic circuit.
The need for electronic equipment has increased significantly as a result of technological improvements which makes tons of electronic scraps or electronic waste which can be recycled to reduce carbon footprints and better environmental condition.Computer monitors, motherboards, cell phones and chargers, CDs, headphones, television sets, air conditioners, and refrigerators are examples of common electronic garbage (e-waste).
For instance, according to Invest India, an India-based national investment promotion and facilitation agency that helps investors looking for investment opportunities and options in India, in 2020, the global market for electronic devices was worth $2.9 Tn. Furthermore, The Consumer Technology Association (CTA), a US-based standard and trade organization representing 1,376 consumer technology companies in the United States, projected that the consumer technology industry to generate over $505 billion in retail sales revenue for the first time, the projection also represents a 2.8% revenue increase from the 2021’s impressive 9.6% growth over 2020. Therefore, the growing usage of electronic products is driving the growth of the e-scrap recycling market.
Technological Advancements are a key trend gaining popularity in the e-scrap recycling market.Major companies operating in the e-scrap recycling market are focused on developing new technological solutions to strengthen their position.
For instance, in September 2022, ANDRITZ, an Austria-based technology group that provides plants, systems, equipment, and services for various industries, launched shredder technology that enables sustainable recycling of e-scrap.The new ADuro G-1600S granulator is equipped with additional wear protection for a higher lifetime.
The machine can be maintained easily, reducing downtimes to a minimum and thus achieving higher production. The granulator replaces the existing machine from another supplier.
In February 2022, Quantum Lifecycle Partners LP, a Canada-based I.T. asset disposition (ITAD) and electronics recycling service provider acquired TechReset, for an undisclosed amount. Through this acquisition Quantum is poised to deliver greater value, leading to a more sustainable future through the additional reuse and recycling of electronics along with increased end-user asset sales. This is acquisition expected to further bolsters Quantum’s position in the Canadian ITAD space, paving the way for accelerated growth. TechReset is a Canada-based company that specializes in safe e-waste disposal and computer recycling.
The countries covered in the e-scrap recycling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The e-scrap recycling market research report is one of a series of new reports that provides e-scrap recycling market statistics, including e-scrap recycling industry global market size, regional shares, competitors with e-scrap recycling market share, detailed e-scrap recycling market segments, market trends, and opportunities, and any further data you may need to thrive in the e-scrap recycling industry. This e-scrap recycling market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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