Electronic Waste Recycling Market Size, Share, Growth, Trends, and Global Industry Analysis: By Material (Metal, Plastic, Glass, Others), By Source (Electronic Utilities, Home Appliances, Communication and Information Technology Devices, Medical Equipment, Others), By Application (Disposal, Recycle) and Region Forecast 2019-2030

The electronic waste recycling market size was valued at US$ 28,315.5 million in 2023 and is projected to reach US$ 1,05,064.3 million by 2030, at a CAGR of 20.6% from 2024-2030. Moreover, the U.S. Electronic Waste Recycling Market is projected to grow at 25% of CAGR over the forecast period.

The market focused on the appropriate disposal and recycling of electronic equipment such as computers, cell phones, and household appliances, with the goal of recovering valuable metals and carefully handling hazardous compounds. This market is expected to grow due to higher e-waste volumes from expanding electronic usage and shorter product lifespans. Growing environmental concerns, combined with stringent government laws on e-waste disposal, are major causes. The public's understanding of the environmental and health concerns connected with incorrect e-waste handling has increased demand for long-term recycling solutions.

The industry offers numerous potentials, particularly with improvements in recycling technologies that enable more efficient material recovery. Emerging economies with increasing electronics usage are projected to enact stronger rules, accelerating industry growth. Furthermore, enterprises are increasingly valuing sustainability, resulting in collaborations with recycling companies. The push for a circular economy promotes the growth of a secondary raw materials market in which recycled metals and plastics are reintroduced into manufacturing, hence aiding industries with sustainability aims.

Key Players:

The global market includes several electronic waste recycling companies such as Boliden AB, Greentec, Umicore SA, Tetronics International Limited, Enviro-Hub Holdings Ltd, Attero Recycling Pvt.Ltd, Cleanway, Veolia Environment SA, Stena Tecnoworld AB among others.

List of Instances in Electronic Waste Recycling Industry

• In July 2021, Umicore and France's ENGIE signed a long-term corporate power purchase agreement (PPA) to provide renewable electricity to their greenfield project in Nysa, Poland. It will be Europe's first plant to manufacture cathode materials and other components for rechargeable Li-ion batteries used in electric vehicles.
• In March 2023, Bharat Petroleum Corporation Limited (BPCL) introduced Sound Management of Waste Disposal (SMW), a sustainable development project to reduce e-waste through effective recycling.

Facts & Figures

• In January 2023, over 59 million tons of e-waste were generated worldwide, with just 17.4% officially recognized as collected and recycled.
• The United States discards an estimated 416,000 cell phones per day, which contributes significantly to e-waste.
• Europe has the greatest documented e-waste recycling rate, at 42.5% as of February 2023.
• In October 2022, China created 10 million tons of e-waste, making it one of the world's greatest generators.
• Recycling one million laptops saves enough energy to power nearly 3,500 households in the United States for a year.

Key Developments

In October 2023, Veolia North America, a leading provider of environmental services in the US and Canada, announced the acquisition of U.S. Industrial Technologies. Since 1996, U.S. Industrial Technologies, headquartered in Michigan, has played an important role in managing industrial waste streams for automakers, major manufacturers, small enterprises, and government entities. This acquisition strengthens Veolia's ability to provide comprehensive trash and recycling solutions, boosting its service offerings in the industrial sector.

Electronic Waste Recycling Market Segmentation

By Material: Within the materials area of the market, metal is the most significant contributor, driven by the high recovery value of metals such as steel, copper, and precious metals such as gold and silver. Metals are among the most valuable components of e-waste, owing to their widespread use in electronic circuits, wiring, and other structural elements. Copper, a highly conductive metal, is particularly sought after since it is widely utilized in electronic components and wiring and has a high recycling value due to its endurance and conductivity. Steel, commonly found in electronic casings and frames, is also a main material in e-waste recycling since it is totally recyclable without loss of quality, reducing the requirement for primary manufacture and thereby conserving natural resources.

Demand for the metals in electronics manufacture, combined with severe primary mining rules and a push for sustainable practices, are significant drivers of the metal recycling segment's growth. The recovery of important metals also acts as a critical economic incentive, reducing the demand for raw resource exploitation while offering an environmentally acceptable source of these essential commodities. Advanced sorting technologies, notably AI-driven and robotic sorting systems, are improving metal recovery procedures and increasing the profitability and efficiency of the e-waste recycling sector.

By Source: Communication and Information Technology (IT) Devices are the leading source of electronic trash generation in the recycling market. This group includes products like cell phones, computers, laptops, tablets, and servers, all of which have high turnover rates due to rapid technical improvements and regular upgrades. As newer versions are introduced, previous gadgets become obsolete, resulting in higher discard rates. The communication and IT devices category contains high-value recoverable materials, such as precious metals (gold, silver, and palladium), rare earth elements, and critical metals, which are required to manufacture new electronic components. This makes recycling these gadgets both commercially and environmentally advantageous.

The rise in digitization, remote work patterns, and increased consumer demand for connectivity have hastened the creation and disposal of IT equipment. Recycling communication and information technology devices reduces environmental consequences by reducing the demand for raw metal mining and lowering greenhouse gas emissions connected with primary manufacture. Furthermore, numerous regions are enacting legislation to control IT device disposal and promote responsible recycling, making this sector a key point for recycling programs. Improved sorting and metal extraction technologies are increasing recycling efficiency in this leading market, boosting environmentally friendly e-waste management methods.

By Application: Recycle is the key driver of growth in the electronic waste recycling industry, owing to rising legal and environmental pressures, as well as the economic value of recovered materials. Recycling electronic waste enables the extraction and reuse of rich metals like gold, copper, and rare earth elements, which can be expensive and environmentally harmful to mine. The recycling process helps to reduce the demand for raw materials, save resources, and minimize environmental damage caused by mining activities. Furthermore, recycling electronic waste keeps dangerous elements like lead, mercury, and cadmium from seeping into the environment, lowering possible public health hazards and environmental damage.