E-scrap recycling market value to surpass $34 billion by 2022

SPOKANE (Scrap Monster):  The latest report by Transparency Market Research predicts that the value of global e-scrap recycling market is likely to post robust growth of 15% per annum during the period until 2022. The value of worldwide e-scrap market is expected to cross US $34.32 billion by 2022, the report forecasts.

The report also predicts that Europe will continue to remain as the leading market for electronic scrap recycling. In 2014, European region accounted for 29% of the global electronics scrap recycling market. The Europe’s share will continue to lead other regions in 2022 as well. Among other regions, the e-waste recycling market in Asia-Pacific region is expected to record fastest growth. This growth will be lead mainly by countries like China, Japan, South Korea and India. Australia and Singapore offers significant growth opportunities in e-scrap recycling market.

According to the report, small home appliances market is likely to post fastest growth by 2022. This is in contradiction to the situation that prevailed in 2014, where majority of e-scrap recycling market was constituted by large white goods. The shift to latest technology has reduced the size of electronic devices.

The precious metals segment is expected to post CAGR growth of over 11%. The smelting and refining majors including Boliden Group, Umicore and Mitsubishi Materials USA Corporation are likely to announce big expansion to their e-scrap processing capabilities in order to handle rising volume of discarded electronics. Some of them have already upgraded their facilities in anticipation. For instance, Boliden Group has more than doubled the capacity of its Roennskaer smelting facility.

The report titled "Electronic Scrap Recycling Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022", notes that nearly 50 million tonnes of electronics scrap is generated worldwide every year.