PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550766
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550766
The electronic scrap recycling market is estimated to be valued at USD 32.56 Bn in 2024 and is expected to reach USD 52.62 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 32.56 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 7.10% | 2031 Value Projection: | US$ 52.62 Bn |
The electronic scrap or e-scrap recycling market has seen substantial growth over the past decade due to rising awareness about the ethical disposal of electronic waste. Rapid advancements in consumer electronics have led to shorter product life cycles and higher obsolescence rates. Growing volumes of outdated or damaged electronic devices such as computers, mobile phones, televisions, and various home appliances have increased the need for responsible recycling processes that extract valuable materials for reuse instead of dumping components in landfills. Stringent environmental regulations in developed markets related to hazardous materials and proper waste management have also driven more companies to establish closed loop recycling programs. With environmental consciousness rising globally, the electronic scrap recycling market is well positioned for continued expansion to process increasing amounts of e-waste.
The electronic scrap recycling market is primarily driven by the burgeoning volumes of end-of-life electronic products that require sustainable processing. Rapid developments in consumer electronics have led to shorter product life cycles and higher obsolescence rates, exacerbating the flow of outdated devices that enter the waste stream each year. Stringent environmental regulations regarding the disposal of electronic waste and banning of toxic materials in numerous countries also compel electronics manufacturers and consumers to ensure their old devices get recycled properly through authorized recyclers. Additionally, the demand for recovered precious metals like gold, silver, copper, and platinum from discarded electronics provides a major incentive for recycling activities. However, the presence of hazardous materials in some e-waste components and the complexity of separating different substances pose challenges. Illegal exports of e-waste to developing countries with lax regulations also undermine regulated recycling.
Detailed Segmentation-