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E-scrap Recycling Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Processed Material Type and Geography

·6-min read

According to the new research report titled “E-scrap Recycling Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 8,199.

New York, April 21, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "E-scrap Recycling Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Processed Material Type and Geography" -
04 million by 2028, registering a CAGR of 14.3% from 2021 to 2028.

Transferring voice, data, text, sound, and video are the major operations undertaken in the telecommunications industry.The number of electronic and electrical components required is enormous, from transmitters and receivers to power amplifiers, antennas, cables, DSL equipment, satellites, telephones, mobile devices, routers, modems, and mainframes.

All of these devices can be broken down into recyclable commodities.Regardless of whether these devices are operating or not, adequate administration is essential to ensure regulatory compliance and secure data erasure.

Electronic waste is responsible for 70% of the harmful compounds found in landfills, such as lead, cadmium, and mercury.If telecommunications e-waste is disposed of rather than recycling, harmful compounds may seep into the environment with the decomposition of garbage.

These chemicals can damage groundwater, soil, and food chain. People who encounter these poisons are at a significant risk of developing health problems, including respiratory issues, reproductive, developmental, and neurological system issues. Thus, the increasing need to recycle telecommunication equipment fuels e-scrap recycling market growth.

White goods are major consumer durables or household appliances previously exclusively accessible in white.Even though these items are now available in various colors, they are still referred to as white goods.

Washing machines, air conditioners, stoves, refrigerators, and other appliances are among them.One of the best methods to make something useful out of scrap or products that might otherwise end up in landfills is to recycle white goods.

To recover recyclable elements, white goods can be repaired or deconstructed.Materials that cannot be recycled will be disposed of in an environmentally friendly manner.

To safely recycle white goods, remove any hazardous items from the device, such as heavy metals, chemicals, or gases. White-goods metal can be recycled multiple times to create new items. White items are crushed and shredded for recycling during the recycling process. Copper, steel, and polymers are all recycled and treated to create new metal and plastic products. Thus, the above mentioned factors are driving the growth of e-scrap recycling market for white goods.

Glass is another commonly used material in electronics such as smartphones, televisions, laptops, and microwaves.The rising adoption of such consumer electronics and small & large household appliances is triggering the generation of glass e-waste worldwide which will also impacts the e-scrap recycling market to some extent.

The glass waste disposed of across landfills can be dangerous for humans handling this waste. Such factors have led to the rise in investments by private companies in the recycling of glass e-waste, thereby contributing to the E-scrap recycling market.

COVID-19 Impact on E-Scrap Recycling Market

North America is among the worst-hit regions by the COVID-19 pandemic.The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients.

COVID-19 has negatively impacted manufacturing businesses in the region in four critical areas: Supply chain/operations, workforce, 2020 investments, and product offering. In the first 9 months, overhead costs, including expenses for sales, research & development (R&D), and administration of various providers, declined due to severe measures taken during the pandemic.

Post lockdown, the E-scrap recycling market witnessed increasing demand for digital devices.With a favorable infrastructure that supports high-speed internet services, North America has surfaced as the leading region to adopt smart or IoT-based devices.

The COVID-19 outbreak impacted electronics manufacturing facilities significantly as production capacities were lowered.As the demand for electronics remained constant, it helped the E-scrap recycling market recover.

Electronic waste is one of North America’s fastest-growing waste sources due to rapid technological advancements that encourage the production of new goods and the replacement of obsolete equipment. The increased use of electronic devices during the epidemic is likely to help the North America e-scrap recycling market rise rapidly during the forecast period.

The key countries facing the economic consequences of COVID-19 in the Middle East and Africa (MEA) are Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait, presenting major challenges for all sectors.The pandemic wreaked havoc on the local recycling economy, forcing many small businesses to close.

Many of the enterprises that survived were only able to resume operations in May 2021, when the national lockdown was at Level 4, while others opened in June or July 2021. Some larger corporations were forced to reduce employees and salaries by up to 35%.

The e-scrap recycling market is a low-margin, high-cost, high-volume enterprise.Due to the pandemic’s supply-side impact, the companies’ margins decreased as the volume dropped.

The UAE government is thus promoting the uptake of advanced technology across the industries to increase efficiency among them. Thus, the increasing initiatives across the region to lower the impact of COVID-19 in the service industry are anticipated to ensure medium to low impact on the e-scrap recycling market over the years.

The global e-scrap recycling market is segmented based on product type and processed material, and geography.Based on product type, the e-scrap recycling market is segmented IT & telecom equipment, small household appliances, large white goods, consumer electronics, and others.

Based on processed material, the e-scrap recycling market is segmented metal, glass, plastic, and others.Based on geography, the global e-scrap recycling market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).

Aurubis AG, Umicore, Boliden Group, Stena Metal AB, and Tetronics Environmental Waste Treatment, are among the top five market players operating in the global e-scrap recycling market.

The overall e-scrap recycling market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the e-scrap recycling market size.

The process also serves the purpose of obtaining an overview and forecast of the e-scrap recycling market size with respect to all the e-scrap recycling market segments.Also, multiple primary interviews have been conducted with industry participants to validate data and gain more analytical insights.

The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the e-scrap recycling market.
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