SEATTLE (Scrap Monster): The latest study report published by The Insight Partners foresees rapid growth to global e-scrap recycling market during the period until 2028. The market is projected to touch $8.199 billion by 2028, as compared with $3.222 billion in 2021, thus growing at a CAGR of 14.3% during the forecast period.
The report identifies several factors driving the growth of e-scrap recycling market in Asia Pacific (APAC) region countries. The collection as well as sorting and disassembly of electronic waste is mainly carried out by informal sector players. However, the threats posed by informal sector handling end-processing could lead to growth of organised players in the market. Several countries in the region have issued strict guidelines to ensure sustainable and environment-friendly end-processing of electronic waste.
As per report, more than 5 million metric tons of future e-waste were prevented during the Covid-19 pandemic era. However, present day market trends suggest that the halt in e-waste trade is likely to be transitory and will return to pre-pandemic levels at the earliest.
During the Covid-19 pandemic period, the use of electronic devices by various sectors has registered tremendous rise, thus resulting in huge volumes of electronic waste. This in turn will boost e-scrap recycling market growth in the forthcoming years, the report noted.
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