According to the new research report titled "E-scrap Recycling Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the e-scrap recycling market is expected to reach US$ 8,199.04 million by 2028, registering a CAGR of 14.3% from 2021 to 2028.

The e-scrap recycling market is driven by the need for efficient disposal and management of electronic products and appliances in the consumer electronics sector. The stringent regulations for safe disposal of e-waste are also contributing to the growth of this market. According to the United Nations, the global e-waste volume increased by 21% during 2004-2019, with only 17.4% of the 53.6 million metric tons dumped in 2019 being recycled. This trend highlights the need for e-scrap recycling.

E-waste contains precious metals like silver, gold, palladium, platinum, indium, and gallium, which are crucial elements in the manufacturing of consumer gadgets, IT, and communication systems. Due to their scarcity, the prices of these metals are high, leading to increased demand for metal-based devices that can be reused, reconditioned, or recycled.

Improper disposal of e-waste in the environment is hazardous, as it can contain toxic substances like lead, which can leak into the earth's surface, making the soil infertile. Additionally, large volumes of e-waste are transported from developed countries to developing countries, resulting in negative environmental impacts and health risks to those involved in transportation. For instance, in 2019, 3.75-10.72 million MT of e-waste was shipped to China. Therefore, the growth of the e-scrap recycling market is crucial to address these issues.

The Asia-Pacific (APAC) region was responsible for generating 24.9 million metric tons of e-waste in 2019, which accounts for 46.46% of the global e-waste volume, according to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). In addition to producing a significant amount of e-waste, countries like China also import e-waste from developed nations such as the US. However, government initiatives to reduce the environmental impact of e-waste are driving the growth of the e-scrap recycling market in the region. For instance, the Singaporean government has installed over 300 e-waste recycling bins across the country, providing home pick-up services for large household appliances and collecting waste on a quarterly basis. These measures are expected to boost demand for e-waste recycling and create profitable opportunities for e-scrap recycling market players in the region.

The e-scrap recycling market is categorized into three segments: product type, processed material, and geography. The product type segment includes IT and telecom equipment, small household appliances, large white goods, consumer electronics, and others. The processed material segment includes metal, glass, plastic, and other materials.

Key Findings of Study:

Recycling electronic waste involves the separation of materials, molecules, or chemical components to sell as raw materials for the creation of new products. The process of dismantling, sorting, grinding, and incinerating electronic devices and components is necessary for separating the materials and applying appropriate chemical treatments. Due to the varying forms and mixtures of electronic waste, sorting is required to manage the chemical complexity and unpredictability. Sorting can be performed at different levels, including device, module, electronic component, or powder.

Innovative technologies such as microscopic piping are being used to improve mineral extraction in e-scrap recycling. Microfluidic devices have pipes with a diameter of less than a millimeter, enabling e-scrap recycling market players to analyze various combinations of characteristics using analysis methods like X-rays, infrared, and sensors. This technology can simplify the recycling process and increase recycling volume, driving businesses and the overall e-scrap recycling market.  

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