Global – The value of the global e-scrap recycling market will climb to US$ 34.32 billion by 2022, a report from Transparency Market Research has predicted. This would represent an annual growth rate surge of more than 15%, with Europe maintaining its position as market leader.
In 2014, Europe accounted for around 29% of the overall electronic scrap recycling market. However, the Asia-Pacific region is expected to witness the fastest growth during the forecast period. ‘Especially countries like China, Japan, South Korea, India, Australia and Singapore offer several growth opportunities for the electronic scrap recycling market,’ it is suggested.
The report concludes that large white goods accounted for the biggest volume share (roughly 50%) of the e-scrap generated worldwide in 2014. However, the small home appliances market is expected to experience the most growth by 2022. Transparency Market Research believes that the precious metals segment will record a compound annual growth rate of 11.2% and that smelting and refining companies such as Boliden Group, Umicore and Mitsubishi Materials USA Corporation will significantly increase their e-scrap processing capacities.
The report highlights that as much as 50 million tonnes of e-scrap is generated annually around the world.