Among various segments, metal is projected to dominate the market.
SEATTLE (Scrap Monster): The e-scrap recycling market is projected to grow at a significant pace during the ten-year period from 2022 to 2031. The market will more than double to touch $7.2 billion by 2032, when compared to the valuation of $3.6 billion in 2021, said a new research report published by Transparency Market Research (TMR). This translates to a CAGR growth of 7.6% during the forecast period.
The technological advancements across the world has resulted in substantial increase in demand for electronic and electrical equipment. The rapid product innovations lead to increased generation of e-scrap, which is projected to witness further exponential growth in the upcoming years. The stricter e-waste recycling regulations by various countries are also seen as a major driver of e-waste recycling market.
Among various segments, metal is projected to dominate the market. Also, plastic segment is gaining sizable share of market, on account of their increased use in consumer electronics. By product type, large white goods continue to dominate the market, the report noted.
The global e-scrap recycling market was dominated by Europe in 2021, followed by Asia Pacific and North America. The surge in electronic waste export from western countries has helped Asia Pacific to emerge as a major market during recent years.
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