The global electronics recycling market will be worth around US$ 8 billion (EUR 7.4 billion) by 2028, new research reveals.
The e-scrap sector topped US$ 3 billion in 2021, and continues to thrive. Market analysts cite a compound annual growth rate of over 14% during the 2021-2028 forecast period.
In terms of product type, the large white goods segment had the largest market share in 2020. Meanwhile, analysts predict the consumer electronics segment will see the biggest growth.
The e-scrap recycling boom is driven by strong sales, short product lifecycles and the scarcity of precious metals. Besides, a higher standard of living in emerging countries is resulting in more sales and consequently more e-scrap, too.
On the positive side, technological advancements in e-scrap recycling services continue to emerge to tackle this fast-growing waste stream.