Electronic Waste Recycling Market

Posted 2023-08-23 06:35:39

Electronic Waste Recycling Market Scope

Globally, the size of the Electronic Waste Recycling Market is expected to reach USD 99.67 billion at a CAGR of 16.2% during the forecast period 2022-2030 driven by Increasing Electronic Waste Across the Globe and o Rise in Employment Opportunities in Developing CountriesThe electronic waste recycling market has seen significant growth as recycling e-waste is being witnessed as a growing trend across the globe and has initiated to protect human and environmental health mainly due to the widespread environmental pollution impacts of e-waste.

The market is driven by the increasing volume of electronic waste generated annually. Concerns over the effects of e-waste and depleting resources of minerals can drive the market demand. Waste management companies are going ahead and creating mobile applications for the convenience of customers and providing payment as incentive to boost responsible e-waste management. Entrepreneurs in Africa are procuring electronic equipment in large quantities to extract rare minerals and rebuild gadgets. Development of power banks made using recycled minerals is likely to favor the market growth.

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Market Segmentation

The Electronic Waste Recycling Market is segmental into the electronic waste reusing market is completed based on material, source, and district. Based on sources, the Electronic Waste Recycling Market is sectioned into modern gadgets and purchaser hardware. In light of the material, the Electronic Waste Recycling Market comprises of plastics, glass, metals and synthetic compounds, and others like pressed wood, concrete, wood, elastic, and ceramics. Based on the areas, the Electronic Waste Recycling Market is fragmented into Africa, Europe, North America, the Middle East, Asia-Pacific, and South America.

COVID-19 Impact

The COVID-19 pandemic can have a negligible impact on the global electronic waste recycling market owing to consumer electronic products taking a hit in 2020. Shutdown of factories and restrictions placed on ecommerce firms and physical stores have led to the downfall. According to the report by the U.N., nearly 5 million tons of waste was avoided during 2020.

Industry News

In October 2018, one of the main organization Tetronics presented a Plasma Metal Recovery System (PMRS) which is made uncommonly to handle calcined gadgets waste and car and synthetic catalysts.

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Regional Analysis

According to the market analysis the worldwide Electronic Waste Recycling Market is segmented into different regions. Europe is projected to lead the e-waste recycling advertise and hold its portion during the evaluation time frame because of the quickly rising execution of electronic waste reusing programming, arrangements, stages, and frameworks across industry verticals like security, auto, medical services, IT and Telecommunication, agribusiness, retail, and assembling. Besides, there is an ascent in the reception of electronic waste reusing innovation for picture and discourse acknowledgment and information mining which drives the Electronic Waste Recycling Market Growth.

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