Electronic Waste Recycling Market expected to grow and reach USD 94.2 billion by 2032

Right now the Electronic Waste (E-Waste) Recycling Market is going through a period of rapid growth and this is being driven by an increase in environmental awareness. The other factor driving this increase is the rapid rate at which the volumes of discarded electronic devices are growing, across the globe.

It was in 2023 when the market was valued at USD 30.4 billion and currently this is expected to increase from USD 34.5 billion in 2024, to USD 94.2 billion in 2032. This displays an annual growth rate of 13.40% throughout this forecasted period.

Within the Electronics Waste Recycling market, several of the key companies include, Umicore SA (Belgium), Quantum Lifecycle Partners (Geep Inc.) (Canada), Enviro-Hub Holdings Ltd (Singapore), Stena Technoworld AB (Sweden), Tetronics International Limited (UK), Electronics Recyclers International Inc. (US). In this list there is also, Sims Limited (US), Aurubis AG (Germany), Boliden AB (Sweden), Attero Recycling Pvt. Ltd (India), Great Lakes Electronics Corporation (US), E-Parisaraa Private Limited (India), Greentec (Canada), Cleanaway (Australia), Veolia Environment SA (France) along with many others.

Due to this increase, a lot of research has been put into determining what the causes of this increase are. This research has shown that it is factors such as, a growing electronic waste generation, stringent regulations and environmental awareness, valuable materials in e-waste and finally, rising awareness about the environmental impact.

The issue of a growing electronic waste generation mainly stems from an increase in the consumption of electronic devices, along with consumers continuously upgrading their devices at a frequent rate. This has led to Governments and regulatory bodies enforcing stricter regulations for proper disposal and recycling of e-waste. On this note, Extended Producer Responsibility (EPR) laws are urging manufacturers to take responsibility for both the recycling and the disposal of their products, when they come to the end of their life cycle. On top of this, it is well-known that there are a lot of valuable materials within E-waste and these include precious metals such as gold, silver, and palladium and even materials such as copper and rare earth elements. This means that recycling E-Waste can become tricky, however proceeding with this process is now strongly encouraged, because it reduces the need to mine for these materials and it aids in conserving natural resources. Highlighting all these benefits means that recycling these materials has the potential to become an excellent option for a lot of companies, as well as governments. Finally, raising awareness about the environmental impact e-waste is having, plays a large role within this industry as well. It has been made clear that if e-waste is not disposed of properly then it can become harmful to the environment and to human health. This information pushes consumers and companies to adopt eco-friendly disposal and recycling methods, with the intention of minimizing environmental harm.

In order to help with the drive towards more responsible disposal, categories for recycling different kind of e-waste have been created. These are, ‘By Type of E-Waste’, ‘Small Household Appliances’, ‘IT and Telecommunications Equipment’ and finally, ‘Consumer Electronics.’ Another way of improving the e-waste recycling system, is to sort items by the best process to recycle them. The various options include demanufacturing, material recovery, refurbishing and reuse, composing and waste treatment. Other methods include, ‘By End-Use Industry’ and finally, ‘By Region.’

As it stands, research has shown that The Electronic Waste Recycling Market is due to continue to expand and it will be supported by all the factors mentioned above. Plus, as e-waste proves to be a valuable source of raw materials and concerns around sustainability increase, the demand and need for efficient recycling processes will also continue to grow.