The Asia Pacific market is expected to expand at a CAGR of 8.5% during the forecast period 2023-2033

Rockville, Jan. 27, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the worldwide electronics recycling market is anticipated to garner US$ 120 billion by 2033, expanding at a high-value 13.1% CAGR from 2023 to 2033.

Electronic equipment, by nature, becomes obsolete or requires repair from time to time. It is less costly to replace an electronic device than to repair it. As a result, people are more likely to acquire new products rather than repair old ones. This increased rate of obsolescence is currently generating a considerable volume of e-waste.

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Key Takeaways from Market Study

• The global electronics recycling market is worth US$ 35 billion in 2023.
• Worldwide demand for electronics recycling is projected to surge at a CAGR of 13.1% during the forecast period (2023 to 2033).
• The market is estimated to hit a valuation of US$ 120 billion by 2033.
• The Asia Pacific market is predicted to expand at a CAGR of 8.5% from 2023 to 2033.
• The consumer electronics segment accounted for 40% share of the global market in 2022.
  

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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 Companies Profiled

• Aurubis AG
• Enviro-Hub Holdings Ltd
• Boliden Group
• Clean Earth, Inc
• Dlubak Glass Company
• Cerebra Integrated Technologies Ltd
• Exitcom Recycling GmbH
  

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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
    

Regional Analysis

Asia Pacific is dominating the worldwide market. Japan and South Korea are complementing market development in Asia Pacific. Europe and North America are following Asia Pacific in terms of growth. The United Kingdom and Germany are making significant contributions to the European market.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global electronics recycling market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.

The study divulges essential insights on the market on the basis of material (metals, plastics, other materials) and equipment type (consumer electronics, IT & telecom, other equipment types), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

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