PUBLISHER: The Business Research Company | PRODUCT CODE: 1563203
PUBLISHER: The Business Research Company | PRODUCT CODE: 1563203
E-scrap recycling, also known as electronic scrap or electronic waste recycling, involves the process of recovering valuable materials from discarded electronic devices and components. This process aims to extract and reuse metals, plastics and other materials from electronic products. E-scrap recycling helps reduce environmental pollution by diverting hazardous substances from landfills and minimizing the need for raw material extraction.
The e-scrap recycling market consists of revenues earned by entities (organizations, sole traders and partnerships) by providing e-scrap recycling services that are used for collecting, sorting, dismantling and processing of electronic scrap to extract reusable materials.
The global e-scrap recycling market was valued $6,273.05 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 6.0%.
Increased Disposable Income
Increased disposable income propelled the growth of the e-scrap recycling market in the historic period. Increased disposable income boosted consumer spending on new electronic devices, such as smartphones, laptops and appliances. disposable income supports the growth of e-scrap recycling by increasing the volume of e-waste generated, enabling investment in recycling infrastructure and services, promoting sustainable practices and fostering technological innovation. Higher disposable income levels contribute to more effective and widespread e-waste management and recycling efforts. For example, in July 2023, according to the Department of Statistics Malaysia (DOSM), median household income in urban areas increased by 3.3% from 6,561 ringgit ($1,489.27) in 2019 to 7,243 ringgit ($1,644.08) in 2022. In rural areas, median household income rose by 2.2%, from 3,828 ringgit ($868.91) to 4,094 ringgit ($929.29). Additionally, mean household income in urban areas grew by 2.9% from 8,635 ringgit ($1,960.05) in 2019 to 9,428 ringgit ($2,140.05) in 2022. Additionally, according to the Bank of Korea, a South Korea-based central bank, disposable personal income in South Korea increased to 2,191,418.90 KRW billion ($1,696.84 billion) in 2022 from 2,099,125.20 KRW billion ($1625.38 billion) in 2021. Therefore, increased disposable income supported the growth of the e-scrap recycling market during the historic period.
Strategic Partnerships And Collaborations Among Market Players
Companies in the e-scrap recycling market are focusing on strategic partnerships and collaborations for enhancing the effectiveness and sustainability of electronic waste management. Collaborations between e-waste recycling companies, manufacturers and other stakeholders facilitate the sharing of resources and expertise. This synergy allows partners to streamline processes, improve operational efficiency and enhance the overall effectiveness of e-waste management systems. For example, in February 2024, Closing the Loop, a Netherlands-based company that offers a closed loop service for mobile phones, partnered with Refimet, an Italy-based company that recovers and refines precious metals, goldsmith, dental and industrial scraps. This partnership has caught the attention for its approach to recycling used mobile phones and laptops from African countries, such as Nigeria, Ghana and Cameroon. Further, in February 2023, FCNT, a researcher, developer, seller and repair services provider for mobile terminal systems, information processing and simple notification service (SNS), partnered with Closing the Loop and ITOCHU, a Japanese trading company, to help finance the collection of phones in a number of African countries, where the scrap devices are purchased, aggregated and eventually shipped to Europe for final metals recovery.
The global e-scrap recycling market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 22.12% of the total market in 2023.
E-Scrap Recycling Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global e-scrap recycling market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for e-scrap recycling? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The e-scrap recycling market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider e-scrap recycling market; and compares it with other markets.