Global Electronics Recycling Market to Witness Remarkable Growth Until 2033

SEATTLE (Scrap Monster): The latest research report published by Fact.MR foresees remarkable growth to global electronics recycling market over the next decade. The market is expected to grow at a CAGR of over 13% to touch $120 billion by 2033. This compares with the market which was valued at $35 billion in 2023.

The production of electronic devices have witnessed significant surge with the advancement of technology. The older, non-functional or irreparable devices are most often discarded by users, thus leading to mountains of electronic waste. The proliferation of smartphones, laptops and other modern electronic devices has resulted in tremendous accumulation of e-waste, the report said.

The rising volumes of e-waste poses serious threat to the environment and human health, especially due to the presence of toxic materials contained in them, including lead, mercury and cadmium. In response to the above threats, governments, businesses and consumers have increasingly begun to recognize the need for responsible disposal and efficient recycling of these devices.

The surge in electronics recycling facilities have been driven by advancements in recycling technologies. The extraction and reuse of valuable components from discarded electronics has resulted in conservation of valuable resources and reduced environmental impacts.

YOU MAY ALSO BE INTERESTED IN:

Best Buy's New Mail-In Program to Boost E-Waste Recycling

e-Stewards Warns Against Illegal Electronics Plastics Scrap Shipments