Recyclers are tapping new revenue generation opportunities in an electronics market that is expected to grow to US$ 7.3 billion (EUR 6.9 billion) by 2031, according to a report from Transparency Market Research.
The analysts expect a compound annual growth rate of nearly 8% during the decade while global e-scrap generation is set to reach 59 million tonnes by the end of this year, up from 54 million tonnes in 2019.
They recognise the waste management sector’s significant social, economic, and environmental contributions. ‘Top e-waste management companies have lucrative prospects to recover valuable metals and other materials, particularly in emerging markets,’ the report says.
Key findings include:
- Metals are projected to dominate the market but with plastics gradually gaining a larger market share. In consumer electronics, for example, expanded polystyrene (EPS) is already widely used.
- The e-scrap recycling market is dominated by large white goods, notably refrigerators and dishwashers.
- The global e-scrap recycling market is driven by increased use of electronic items and shorter lifecycles of products. A rise in disposable income, urbanisation, and industrialisation in most parts of the world is expected to drive growth.
- Europe leads the e-scrap recycling market, followed by Asia and North America. Waste exports are shaping new recycling markets, especially in Asia and emerging markets.