The electronic waste recycling market is projected to grow to $66.33 billion by 2029
From GlobeNewswire: 2024-12-06 07:30:00
The Electronic Waste Recycling Market is set to grow from USD 48.41 billion in 2024 to USD 66.33 billion by 2029, with a CAGR of 6.5%. This process involves collecting, disassembling, and processing discarded electronic devices to recover valuable materials and reduce environmental impact. Key players include Dell, Umicore, and Quantum Lifecycle Partners.
Drivers for growth include increasing consumer electronics production, while challenges include economic viability and high establishment costs. Opportunities lie in circular economy initiatives, with the metals segment expected to have the highest CAGR. The IT & Telecommunication sector is also projected to exhibit significant growth in the market.
Metals, such as gold, palladium, tin, lead, and nickel, dominate the materials segment due to their high value. Recycling these metals from electronic waste helps prevent environmental degradation associated with mining and processing raw materials, supporting the principles of a circular economy. The market is expected to see growth in the coming years due to the increasing demand for precious materials in various industries.
North America leads the market in electronic waste recycling, with a focus on IT & Telecommunication and household appliances as key sources. Companies like Dell Inc. and ERI are implementing innovative technologies to meet the growing demand for responsible recycling practices. The region’s demand is driven by stringent environmental regulations and increasing consumer awareness.
Overall, the global electronic waste recycling market is projected to witness significant growth in the coming years, driven by the need to recover precious materials and reduce environmental impact. Key segments include IT & Telecommunication, metals, and lithium battery recycling, with North America leading the market in terms of volume and value. Companies are focusing on innovative technologies to meet the rising demand for electronic waste recycling.
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